Lease Agreement Template Thailand

LEASE AGREEMENT TEMPLATE THAILAND

THIS LEASE AGREEMENT (the "Agreement") is entered into and made effective as of this [Day] day of [Month], [Year] (the "Effective Date"), by and between the following parties:

LANDLORD: [Name of Landlord / Corporate Entity], a corporation/individual duly organized and existing under the laws of [Jurisdiction], having its registered office/principal place of business at [Landlord Address], registered under Tax Identification Number [Tax ID], represented herein by [Name of Representative] in the capacity of [Title] (hereinafter referred to as the "Landlord", which expression shall where the context so admits include its successors in title and permitted assigns); and

TENANT: [Name of Tenant / Corporate Entity], a corporation/individual duly organized and existing under the laws of [Jurisdiction], having its registered office/principal place of business at [Tenant Address], registered under Tax Identification Number [Tax ID], represented herein by [Name of Representative] in the capacity of [Title] (hereinafter referred to as the "Tenant", which expression shall where the context so admits include its successors in title and permitted assigns).

WHEREAS: A. The Landlord is the lawful owner and/or has the lawful right to lease the real property and improvements located at [Property Address, Sub-district, District, Province, Postal Code], Thailand, known as [Building/Estate Name, if applicable], including the fixtures and fittings specified herein (the "Leased Premises"); B. The Tenant desires to lease the Leased Premises from the Landlord, and the Landlord desires to lease the Leased Premises to the Tenant, subject to the terms, covenants, and conditions hereinafter set forth; and C. This Agreement is structured and intended to comply with the Civil and Commercial Code of Thailand, including applicable statutory provisions regarding the lease of immovable property.

NOW, THEREFORE, in consideration of the mutual covenants, promises, and valuable consideration contained herein, the receipt and sufficiency of which are hereby acknowledged, the Parties hereto covenant and agree as follows:

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SECTION 1: OPERATIONAL DEFINITIONS

For the purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires, the following terms shall have the meanings assigned to them below:

1.1. "Agreement" means this Lease Agreement, including all recitals, schedules, exhibits, addenda, and any subsequent written amendments executed by both Parties in accordance with Section 5.2.

1.2. "Business Day" means a day (other than a Saturday, Sunday, or public holiday) on which commercial banks are open for general business in Bangkok, Thailand.

1.3. "Commencement Date" means [Day] day of [Month], [Year], being the date on which the lease term officially begins and the Tenant’s obligations to pay Rent commence.

1.4. "Expiration Date" means [Day] day of [Month], [Year], being the date on which this Agreement terminates by effluxion of time, unless renewed or terminated earlier pursuant to the provisions hereof.

1.5. "Force Majeure" means any event beyond the reasonable control of the affected Party, including acts of God, natural disasters, war, civil commotion, epidemics, pandemics, government restrictions, strikes, or utility failures, which directly prevents a Party from performing its obligations under this Agreement.

1.6. "Leased Premises" means the real property situated at [Property Address], encompassing an area of approximately [Square Meters] square meters, together with the fixtures, furniture, and equipment listed in the Inventory Schedule attached hereto as Exhibit A.

1.7. "Rent" means the monthly financial consideration payable by the Tenant to the Landlord for the use and occupation of the Leased Premises, in the amount of [Currency and Amount] per calendar month.

1.8. "Security Deposit" means the sum of [Currency and Amount], equivalent to [Number] months' Rent, deposited by the Tenant with the Landlord to secure the faithful performance of the Tenant's obligations under this Agreement.

1.9. "Term" means the fixed duration of this Lease Agreement, commencing on the Commencement Date and expiring on the Expiration Date, unless sooner terminated in accordance with Section 4.

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SECTION 2: SUBSTANTIVE TERMS & OBLIGATIONS

2.1. Grant of Lease and Term The Landlord hereby leases to the Tenant, and the Tenant hereby takes from the Landlord, the Leased Premises for the Term, subject to the rents, covenants, conditions, and agreements herein contained. The Term shall be for a period of [Number] years, starting on the Commencement Date and ending on the Expiration Date.

2.2. Rent and Payment Terms (a) The Tenant covenants to pay to the Landlord the monthly Rent of [Currency and Amount] strictly in advance on or before the [Day] day of each calendar month, without any deduction, set-off, or counterclaim whatsoever, into the following designated bank account of the Landlord:

• Bank Name: [Bank Name]
• Account Name: [Account Name]
• Account Number: [Account Number]
• Branch: [Branch Name]

(b) If any payment of Rent or other charges is not received by the Landlord within [Number] days of its due date, the Tenant shall pay a late payment charge calculated at the rate of [Percentage, e.g., 1.5]% per month on the overdue amount, calculated on a daily basis from the due date until the date of actual payment.

2.3. Security Deposit (a) Upon the execution of this Agreement, the Tenant shall deposit with the Landlord the Security Deposit. The Security Deposit shall be held by the Landlord as security for the due and punctual performance by the Tenant of all terms, covenants, and conditions of this Agreement. (b) The Security Deposit shall not bear interest in favor of the Tenant. The Landlord shall refund the Security Deposit (without interest), less any lawful deductions for unpaid rent, utilities, property damage, or breach of contract, to the Tenant within thirty (30) days following the expiration or termination of this Agreement and the handover of vacant possession of the Leased Premises to the Landlord.

2.4. Taxes, Fees, and Registration (a) The Landlord shall be solely responsible for the payment of all property taxes, municipal taxes, and land taxes levied against the Leased Premises. (b) The Parties agree that this Agreement shall be registered at the competent Land Office of Thailand if the Term exceeds three (3) years. The cost of registration fees and specific business taxes/stamp duties associated with such official registration shall be borne equally ([50/50] / [Landlord/Tenant bears X]%) by the Parties.

2.5. Use of Leased Premises The Tenant shall use the Leased Premises exclusively for [Permitted Use, e.g., residential / commercial office] purposes and shall not use, or permit the Leased Premises to be used, for any unlawful, immoral, or hazardous purpose, or in any manner that constitutes a public or private nuisance.

2.6. Maintenance, Repairs, and Alterations (a) Landlord’s Obligations: The Landlord shall maintain and repair the structural elements of the Leased Premises, including the roof, foundation, external walls, and main plumbing and electrical risers, ensuring the structural integrity of the property. (b) Tenant’s Obligations: The Tenant shall, at its own expense, maintain the interior of the Leased Premises in a clean, good, and tenantable condition (fair wear and tear excepted) and shall be responsible for minor repairs costing less than [Currency and Amount] per occurrence. (c) Alterations: The Tenant shall not make any structural alterations, additions, or improvements to the Leased Premises without the prior written consent of the Landlord, which consent shall not be unreasonably withheld. Any unauthorized structural alterations shall become the property of the Landlord or, at the Landlord’s option, be removed by the Tenant at the Tenant's sole expense upon the termination of this Agreement.

2.7. Representations and Warranties (a) The Landlord represents and warrants that: (i) it has full legal right, power, and authority to enter into this Agreement and lease the Leased Premises; (ii) the Leased Premises are free from any encumbrances, claims, or legal disputes that would materially interfere with the Tenant's quiet enjoyment; and (iii) the Leased Premises comply with all applicable laws and regulations of Thailand. (b) The Tenant represents and warrants that: (i) it has the corporate power and authority (or legal capacity) to execute and perform this Agreement; and (ii) funds utilized for payments under this Agreement are derived from legitimate sources.

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SECTION 3: REGISTRATION AND RENEWAL

3.1. Lease Registration Pursudant to Section 538 of the Civil and Commercial Code of Thailand, if the Term exceeds three (3) years, this Agreement is valid only for three (3) years unless registered with the relevant Land Department. Both Parties agree to execute all necessary documents and appear at the Land Office within [Number] days of the Effective Date to complete the official lease registration.

3.2. Option to Renew Provided that the Tenant is not in material breach of any terms, covenants, or conditions of this Agreement, the Tenant shall have the option to renew this Agreement for an additional term of [Number] years upon the expiration of the initial Term, by providing written notice to the Landlord at least ninety (90) days prior to the Expiration Date. The Rent for the renewal term shall be mutually agreed upon by the Parties, provided that such increase shall not exceed [Percentage, e.g., 10]% of the prevailing Rent.

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SECTION 4: DEFAULT, TERMINATION, AND REMEDIES

4.1. Events of Default The occurrence of any of the following events shall constitute a material breach and "Event of Default" under this Agreement: (a) Failure by the Tenant to pay Rent, utility charges, or any other monetary obligation within fifteen (15) days after the due date; (b) Breach by either Party of any non-monetary covenant, representation, or obligation contained in this Agreement; (c) The filing of a petition in bankruptcy, insolvency, or reorganization against the Tenant, or the appointment of a receiver or liquidator for all or substantially all of the Tenant's assets.

4.2. Notice and Cure Period Upon the occurrence of an Event of Default, the non-defaulting Party shall issue a written notice of default specifying the nature of the breach. The defaulting Party shall have a cure period of thirty (30) business days from the date of receipt of such notice to rectify the default (or such longer period as may be reasonably required if the default cannot be cured within thirty days, provided diligent efforts are commenced and continuously pursued).

4.3. Remedies upon Default If the Tenant fails to cure an Event of Default within the specified 30-business-day cure period, the Landlord shall be entitled to exercise any or all of the following cumulative remedies, in accordance with Thai law: (a) Terminate this Agreement with immediate effect by serving written notice to the Tenant; (b) Forfeit the Security Deposit in whole or in part to cover outstanding losses, damages, or unpaid rents; (c) Enter the Leased Premises, take possession thereof, and remove all property of the Tenant, without prejudice to any legal action for damages; (d) Pursue any other legal remedy available under the laws of Thailand, including claims for damages and statutory interest.

4.4. Early Termination by Tenant The Tenant may terminate this Agreement prior to the Expiration Date by providing at least sixty (60) days' prior written notice to the Landlord, subject to the forfeiture of the Security Deposit as agreed liquidated damages, provided that the Tenant is up to date on all rental and utility payments.

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SECTION 5: BOILERPLATE LEGAL PROVISIONS

5.1. Entire Agreement This Agreement constitutes the entire agreement and understanding between the Parties concerning the subject matter hereof and supersedes all prior oral or written agreements, understandings, representations, or warranties relating to the Leased Premises.

5.2. Severability If any provision of this Agreement is held to be invalid, illegal, or unenforceable by a court of competent jurisdiction, such provision shall be modified to the minimum extent necessary to make it valid and enforceable. The remaining provisions of this Agreement shall remain in full force and effect.

5.3. Force Majeure Neither Party shall be held liable for any failure or delay in performing its obligations under this Agreement if such failure arises from a Force Majeure event. The affected Party shall promptly notify the other Party in writing of the occurrence of the Force Majeure event and use reasonable commercial efforts to mitigate its impact. If the Force Majeure event continues for more than sixty (60) consecutive days, either Party may terminate this Agreement upon written notice without liability, save for the refund of unearned rent and deposits.

5.4. Governing Law This Agreement, and any non-contractual obligations arising out of or in connection with it, shall be governed by, construed, and interpreted in accordance with the substantive laws of Thailand.

5.5. Dispute Resolution and Jurisdiction Any dispute, controversy, or claim arising out of, relating to, or in connection with this Agreement, including its formation, breach, termination, or invalidity, shall be submitted to the exclusive jurisdiction of the competent courts of Thailand located in the jurisdiction where the Leased Premises are situated.

5.6. Notices All notices, demands, or other communications required or permitted to be given under this Agreement shall be in writing and shall be deemed duly given if delivered personally, sent by registered mail (return receipt requested), or transmitted by confirmed electronic mail to the addresses set forth in the preamble of this Agreement, or to such other address as a Party may designate by notice to the other.

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SECTION 6: FORMAL EXECUTION BLOCK

IN WITNESS WHEREOF, the Parties hereto have caused this Lease Agreement to be duly executed by their respective authorized representatives as of the Effective Date first written above.

LANDLORD:

[Landlord Legal Entity Name]

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By: [Name of Signatory]
Title: [Title]
Date: [Date]

TENANT:

[Tenant Legal Entity Name]

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By: [Name of Signatory]
Title: [Title]
Date: [Date]

WITNESS / NOTARY:

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Name: [Name of Witness]
Title: [Title/Notary Public]
Date: [Date]