Specimen commercial lease (Scotland)

This Commercial Lease is made this [  ] day of [insert month] [insert year] between:

(a)[PARTY 1 NAME] LIMITED, a company incorporated in Scotland with company number [number], whose registered office is at [address] (the “[Short name]”)

(b)[PARTY 2 NAME] LIMITED, a company incorporated in Scotland with company number [number], whose registered office is at [address] (the “[Short name]”)

together herein referred to as the “Parties” or individually as a Party

(A)The Landlord owns the Premises.

(B)The Tenant wishes to take a lease of the Premises for its business.

The Parties agree as follows:

In this Agreement, the following definitions apply:

“Agreement” means this agreement including its Schedule.

“Premises” means the property described in the Schedule.

“Rent” means the rent set out in the Schedule.

“Term” means the term set out in the Schedule.

The Landlord lets the Premises to the Tenant for the Term at the Rent.

The Tenant shall pay the Rent by equal quarterly payments in advance.

The Tenant shall use the Premises only for the permitted use set out in the Schedule.

Any notice under this Agreement shall be in writing and delivered by hand, by pre-paid first-class post or by email to the address of the recipient set out in this Agreement, or such other address as it notifies.

This Agreement constitutes the entire agreement between the parties and supersedes all previous agreements, promises and understandings between them relating to its subject matter.

No variation of this Agreement shall be effective unless it is in writing and signed by or on behalf of each of the parties.

Nothing in this Agreement confers, or is intended to confer, any third-party right on any person under the Contract (Third Party Rights) (Scotland) Act 2017.

This Agreement may be executed in any number of counterparts and by each of the parties on separate counterparts. Where executed in counterparts, this Agreement shall not take effect until each of the counterparts has been delivered in accordance with the Legal Writings (Counterparts and Delivery) (Scotland) Act 2015.

10.1If a dispute arises out of or in connection with this Agreement, the parties shall first attempt to resolve it by negotiation between senior representatives.

10.2If the dispute is not resolved within 30 days, the parties shall attempt to settle it by mediation.

10.3If the dispute is not settled by mediation within 60 days of the mediator's appointment, either party may refer it to the Scottish courts.

This Agreement shall be governed by and construed in accordance with the law of Scotland.

IN WITNESS WHEREOF these presents, consisting of this and the preceding pages together with the Schedule annexed, are executed as follows:

[Details of the commercial lease: parties' particulars, description, price and timetable.]