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Lease Agreement Tabata Branch-1
Lease Agreement Tabata Branch-1
No : __________
The Office Leasing Agreement (“The Agreement”) is made on the date of ………………, by and
between:
PARTY A:
Name: NDETTY DANIEL KAAYA
Address: P. O. Box 320556, Dar es Salaam
Represented by: NDETTY DANIEL KAAYA
Position: Lessor
Identification Number: 19611023121050000114 (Herein referred to as the “Lessor”)
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2.1 The duration of this Agreement is 5 years but payment will be for one (1) year and comes
into force from the date of signing Hand-over Certificate of Leased Premise by the Parties.
(Party A and party B agreed the maximum time for the handover of the documents is one
Month starting from ………….
2.2 The Agreement will be automatically renewed according to the same terms and conditions if
neither party notifies other party of its intention to terminate the Agreement.
Article 3: Rental and mode and Schedule of payment
3.1 Rental
The rental is 1,420,000 Tsh /month (in words: One Million four hundred and twenty
thousands)
- The above said rental is included all taxes except VAT/fees regulated by the existing laws
arising from leasing excluding charges for using electricity, water supply, telephone,
security, rubbish collection... These charges shall be paid by the Lessee according to the
practical consumption. The Lessee is entitled to deduct withholding tax from the amount of
rent received under the current regulations to be submitted to the Competent Authority, the
lessor shall pay all taxes, charges and other obligations of the Lessor.
- The Rental will not be changed during the lease term. In case of changing the rental due to
renewal (if any), the revision does not exceed 10% of the current rental.
The Lessor shall provide the Lessee an invoice (applied if the Lessor is legal entity) and a
receipt (applied if the Lessor is a personel) for each payment made out to the Lessee’s
address with full information of the Lessor as as stipulated in Article 1.
3.2 Payment schedule
The payment will be done when party ‘A’ completes the handover of the Certificate of Leased
Premise.
Payment schedule Time of Payment
12 Months/Advance payment From 1/09/2020 to 31/08/2021
3.3 Payment mode
The payment will be made by bank transferring to the account of the Lessor as the following:
Payment Bank transfer Cheque
mode
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6.4 If the Lessor unilaterally terminates the Agreement, the Lessor shall send written
notification to the Lessee no later than 6 months about the termination. In that case, the
Lessor shall compensate to the Lessee for all costs of reforming, repairing the leased
premise and an amount equivalent to six-month rental and refund the Lessee for the
advance-paid monthly rentals (if any).
Article 7: Dispute settlement
7.1 All disputes between the Parties in connection with the Agreement shall be settled by
friendly negotiation. In case the dispute cannot be resolved through negotiation under said
amicable arrangement, up on failure parties will prefer the matter to Arbitration.
7.2 In case of arising any disputes, the Agreement in English will be prevailed.
Article 8: General conditions
8.1 This Agreement is governed by the laws of Tanzania.
8.2 All alterations and amendments to this Agreement shall be made in writing by both Parties.
8.3 This Agreement shall be binding on and valid to concerning Parties as well as any successor
entitled of their rights and obligations as provided in the present Agreement.
8.4 This Agreement is made in four (04) originals with the same legal value. The Lessor shall
keep one (01) original; the Lessee shall keep three (03) originals.