A Lease Licence is commonly used in Singapore when parties seek a flexible arrangement for property use without the commitments of a traditional lease. This document type is particularly relevant for temporary space usage, pop-up stores, or shared workspace arrangements. The agreement defines the terms of use, duration, fees, and obligations while complying with Singapore's property laws and regulations. It offers greater flexibility in termination and typically involves fewer statutory protections than a formal lease, making it suitable for short-term or specific-purpose arrangements.
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Key Requirements PROMPT example:
Lease Licence
"I need a Lease Licence agreement for a pop-up retail space in Singapore's Orchard Road area, starting from March 2025 for 6 months, with an option to extend for another 3 months if successful."
1. Parties: Details of licensor and licensee
2. Background: Context and purpose of the license agreement
3. Definitions: Key terms used throughout the agreement
4. Grant of License: Specific terms of the license being granted
5. License Period: Duration and renewal terms
6. License Fee: Payment terms and schedule
7. Permitted Use: Allowed usage of the premises
8. Licensee Obligations: Responsibilities and commitments of the licensee
9. Termination: Conditions for ending the agreement
1. Fit-out Works: Details of permitted alterations and modifications to the premises
2. Security Deposit: Terms and conditions relating to security deposit requirements
3. Utilities: Provisions regarding responsibility for utility payments and connections
4. Insurance: Specific insurance requirements and coverage obligations
1. Schedule 1: Property Details: Detailed description of licensed premises including location and specifications
2. Schedule 2: License Fee Schedule: Breakdown of fees, payment dates and payment terms
3. Schedule 3: House Rules: Building regulations and guidelines for use of premises
4. Appendix A: Floor Plan: Detailed drawings and plans of the licensed area
5. Appendix B: Inventory List: Comprehensive list of included fixtures, fittings and equipment
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