Lease or licence contracts termination terms
- Tenant/ licensee must pay rent up to date of termination.
- Tenant/ licensee must reinstate premises in accordance with the contract
and deliver vacant possession on or before date of termination. - Landlord/ licensor can offset accrued liabilities against rental deposit and any advance payments but must return any remainder within 4 weeks after termination.
Rental agreements for commercial equipment or commercial vehicles termination terms
- Renter must pay rent up to date of termination.
- Renter must reinstate the equipment / vehicle in accordance with the contract and return the equipment / vehicle on or before date of termination.
- Supplier can offset accrued liabilities against rental deposit and any advance payments but must return any remainder within 4 weeks after termination.
Hire-purchase or conditional sale agreements for commercial equipment or commercial vehicles termination terms
- Hirer must pay all instalments due and payable up to date of termination.
- Hirer must repay the sum of all instalments (less interest) for the remaining period of the contract after the date of termination, less the value of equipment assessed at the time of termination.
- Hirer need not pay any early settlement fees and charges
- Hirer must return equipment / vehicle to owner on or before date of termination.
Supply of goods and services contract termination
- Purchaser must pay seller for goods already supplied, as well as any expenses the seller may have incurred in performing the contract, up to the date of termination (e.g. cost of manufacturing the goods to be delivered after contract termination).
- Seller can offset accrued liabilities against security deposit and any advance
payments but must return any remainder within 4 weeks after termination. - Seller remains liable for any warranty issued in respect of goods supplied or
services performed up to date of termination.
Source: Ministry of Law
For more information on how to file a Notice of Negotation, Notice of Objection, Notice for Compensation and Notice for Revision under Re-Align Framework, please refer to this step-by-step guides.
