Heads of Agreement for a Lease Template
This Heads of Agreement precedent is for parties intending to enter into a Lease.
Includes provisions relating to:
- Identification of business
- Identification of property from which the business is operated
- Payment of holding deposit
- Vendor’s costs to be paid from deposit
- Deposit to be returned if lease does not proceed, less costs.
- Terms to be included in contract for sale
- Terms to be included in lease
- No binding agreement until contract formalised.
3 pages long.
Leasing Heads of Agreement
This information is not legal information provided by Precedents Online or it’s Authors. It is for General Information only and to be used accordingly.
A heads of agreement is a short, interim agreement that parties use before negotiating and finalising a formal agreement. They are also known as ‘memorandum of understanding‘ (or ‘MOU‘) and serve much the same purpose as a ‘letter of intent’