Commercial Property Estate Agency Terms and Conditions (Assignment of Lease)
These Commercial Property Estate Agency Terms and Conditions (Assignment of Lease) are for use by estate agents, surveyors or property managers handling the assignment (otherwise known as the sale) of a commercial lease on behalf of a Tenant.
The Terms & Conditions specify the responsibilities of the Agency and the Tenant respectively and provide for commission to be paid to the Agency. The Terms and Conditions should be used in conjunction with the Commercial Property Estate Agency Appointment Form (Assignment of Lease) to create a contract between the Agency and the Tenant.
Clause 1 contains definitions and in some cases refers to information contained in the Appointment Form.
Clause 2 covers the appointment of the Agent.
Clause 3 sets out the duties of the Agent. These include preparing particulars, dealing with enquiries and viewings and liaising with solicitors.
Clause 4 sets out the duties of the Tenant. These include obtaining any consents that may be required from the Tenant’s landlord or mortgage company.
Clause 5 deals with termination of the contract between the Agent and the Tenant.
Clause 6 makes reference to the Agent’s complaints handling procedure. If the agent belongs to a redress scheme (which is good practice, but not compulsory, for commercial property agents) details can be included here.
Clauses 7 to 11 contain standard legal interpretation wording and provisions regarding the service of notices and VAT.
Optional phrases / clauses are enclosed in square brackets. These should be read carefully and selected so as to be compatible with one another. Unused options should be removed from the document.
These Commercial Property Estate Agency Terms and Conditions (Assignment of Lease) are in open format. Either enter the requisite details in the highlighted fields or adjust the wording to suit your purposes.
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