A simple commercial lease is a document which outlines, in a cogent and comprehensive manner, the basis of framing such a lease. It is affected between two parties who agree to use a particular item for commercial purposes for a certain period of time. It is a legal document and hence it must be written cautiously after considering all contingent factors. The document must be written after legal consultation.
Sample Simple Commercial Lease:
The following document attests to the agreement finalized between Inchon Pvt. Ltd and Techtronic Inc., henceforth referred to as the lessor and the lessee respectively, regarding the hiring of a piece of real estate currently owned by the lessor, by the lessee for a duration of ten years. The following points pertaining to the simple commercial lease document must be noted:
- The date of commencement of the simple commercial lease is 1st July 2011
- The date of termination of the simple commercial lease is 1st July 2021
- The simple commercial lease can be renewed at the discretion of the lessor after the initial tenure of ten years has expired.
- In case of any breach of contract, disputes may be submitted to the jurisprudence of New York State Civil Court.
- In case of the breach of contract, the case must be filed by the victim of malpractice.
- The details of payments to be made are included in the overleaf and must be strictly adhered to.
- The property to be leased houses tenements, and these, as well as any new construction done on the area, must be sued for commercial purposes only.