Terms and Conditions

Please note that the Transferor and the Transferee are subjected to the following Terms and Conditions when applying for a transfer of tenancy.

• Administrative Fees
  You shall pay a non-refundable administrative fee prescribed by JTC of up to $500 per allocation (subject to prevailing GST).

If there is a change or extension of use arising from the transfer, an additional non-refundable administrative fee prescribed by JTC of up to $500 per allocation (subject to prevailing GST) is payable.

Online payment is also available for this transaction.

• Deed of Novation
  The Transferor and the Transferee have to execute a Deed of Novation. The stamp duty ($12) required for the Deed of Novation (in duplicate) shall be borne by the Transferor.
  

• Security Deposit
  You will be required to place a security deposit for the tenancy term. The deposit is equivalent to THREE months' rent and service charge. The deposit may be paid in the form of a Banker's Guarantee, Insurance Guarantee or Cash.
  

• Rental Payable
  There is no revision of rental for:

• Inclusion or withdrawal of partners to external parties
• Conversion of legal entity
• Corporate restructuring or transfer to related companies
• Transfer to joint venture or subsidiary company

if the transferor (original tenants) holds at least 51% shareholding.

There is no revision of rental for transfers arising from:

• Inclusion or withdrawal of partners involving immediate family members
• Taking over (buy over) as a going concern regardless of the shareholding percentage by the transferor (original tenants)

Otherwise, the rent will be revised with effect from the date of transfer to prevailing market rate or contracted rent, whichever is higher.

• Date which JTC regards the Transferee as the tenant
  Date of certificate of incorporation for Pte Ltd companies; or
  Date of admission of the new partner(s) into the transferee for inclusion or withdrawal of partners; or
  Date of Sale and Purchase Agreement (if any); or
  Effective date as declared by Transferor (eg. Date of possession etc)
  

• Tenancy Term
  The Transferee will take over the tenancy term and all existing terms and conditions as stated in the Tenancy Agreement by way of a Deed of Novation.
  

• Mode of Payment
  The Transferee will be encouraged to make all payments by  GIRO.
  

• Supporting documents
  Please submit any supporting documents such as sale, purchase agreement, marriage certificate and birth certificate.
  

• Ancillary facilities (e.g. condenser unit)
  All ancillary facilities (eg. cooling tower, condenser unit, store room) tied to the industrial unit and serving that industrial unit will also be transferred.
  

• Change or Extension of Use
  Please ensure that you have obtained the necessary clearances from CBPU and PUB, if applicable.