The Vendor Space Rental Agreement is a crucial document used in Singapore's commercial property sector when leasing space to vendors for business operations. This agreement type is particularly important in Singapore's highly regulated property market, where compliance with URA, NEA, and other regulatory requirements is essential. The document covers key aspects including rental terms, security deposits, permitted use, maintenance obligations, and operational requirements, while ensuring compliance with Singapore's property laws and regulations. It's commonly used in shopping centers, food courts, markets, and other commercial spaces where vendors require dedicated operating areas.
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1. Parties: Identification of landlord/property manager and vendor, including registration details and addresses
2. Background: Brief context of the rental arrangement and property details
3. Definitions: Key terms used throughout the agreement
4. Premises: Detailed description of the rental space, including measurements and location
5. Term and Renewal: Duration of rental period and renewal conditions
6. Rental Fees and Payment Terms: Rental amount, payment schedule, and payment methods
7. Security Deposit: Amount, terms of holding and return conditions
8. Permitted Use: Specified activities allowed in the space
9. Maintenance and Repairs: Responsibilities of each party regarding upkeep
10. Termination: Conditions for early termination and notice requirements
1. Utilities and Services: Terms for utility payments and provided services when not included in main rental fee
2. Trading Hours: Specified operating hours for retail or F&B spaces
3. Fit-out Works: Terms for renovation and modifications when vendor is permitted to modify the space
4. Common Areas: Rules for shared space usage in shopping centers or shared facilities
5. Marketing Requirements: Participation in promotional activities for shopping centers or markets
1. Floor Plan: Detailed layout of the rental space
2. Inventory List: List of provided fixtures and fittings
3. House Rules: Property management rules and regulations
4. Payment Schedule: Detailed breakdown of payments and due dates
5. Operating Guidelines: Specific operational requirements and standards
6. Insurance Requirements: Detailed insurance coverage requirements
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