When it comes to leasing a warehouse in the Philippines, it is important to have a well-written contract in place to protect both the landlord and the tenant. A lease agreement is a legal document that outlines the terms and conditions of the lease. It should clearly define what is expected of both parties and help avoid any misunderstandings or disputes in the future. In this article, we will provide a sample contract of lease warehouse Philippines to give you an idea of what to expect.
Lease Agreement for Warehouse Space
This Lease Agreement for Warehouse Space (“Agreement”) is made and entered into on [date], by and between [Landlord’s Name], with a mailing address of [Landlord’s Address] (“Landlord”), and [Tenant’s Name], with a mailing address of [Tenant’s Address] (“Tenant”).
1. Premises
The Landlord hereby leases to the Tenant and the Tenant hereby leases from the Landlord the warehouse space located at [address of the warehouse] (“Premises”).
2. Term
The term of this Agreement shall commence on [start date of lease] and shall expire on [end date of lease]. The Tenant shall vacate the Premises by the end of the lease term. If the Tenant chooses to remain on the Premises after the expiration of the lease term, the Tenant shall be considered a holdover and shall be subject to the terms and conditions of a new lease agreement, or the Landlord may demand possession of the Premises.
3. Rent
The Tenant shall pay to the Landlord a monthly rent of [rent amount] for the use of the Premises. Rent shall be due and payable on the [due date of rent] of each month. If rent is not paid within [grace period] days of the due date, the Landlord may charge a late fee of [late fee amount] and may terminate this Agreement.
4. Security Deposit
The Tenant shall provide a security deposit of [security deposit amount] to the Landlord upon signing this Agreement. The security deposit shall be returned to the Tenant at the end of the lease term, provided that the Tenant has fulfilled all its obligations under this Agreement, including any damages to the Premises caused by the Tenant.
5. Use of Premises
The Tenant shall use the Premises solely for the purpose of [purpose of warehouse use]. The Tenant shall not use the Premises for any illegal purposes. The Tenant shall comply with all applicable laws, statutes, ordinances, and regulations in the use of the Premises.
6. Maintenance and Repairs
The Tenant shall maintain the Premises in a clean and orderly condition. The Tenant shall be responsible for any damage caused by the Tenant’s negligence or intentional acts. The Landlord shall be responsible for any repairs to the Premises that are not caused by the Tenant.
7. Termination
Either party may terminate this Agreement upon [notice period] days’ written notice to the other party. If the Tenant fails to comply with any of the terms and conditions of this Agreement, the Landlord may terminate this Agreement immediately.
8. Entire Agreement
This Agreement constitutes the entire agreement between the parties and supersedes all prior negotiations and understandings. This Agreement may not be amended or modified except in writing signed by both parties.
9. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the Philippines.
In conclusion, a lease agreement for a warehouse space is a crucial document that sets the framework for a successful tenancy. It is important to carefully review and understand all the terms and conditions of the lease agreement before signing it. With the sample contract of lease warehouse Philippines provided in this article, you can have a basic idea of what to expect in a lease agreement and can tailor it to your specific needs.
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