On 26 June 2020, key representatives from Singapore’s landlord and tenant communities, together with industry experts, formed the Fair Tenancy Pro Term Committee to strengthen collaboration and increase the vibrancy and competitiveness of Singapore’s retail, food & beverage (F&B) and lifestyle sectors. A Code of Conduct for Leasing of Retail Premises in Singapore ("CoC") was developed, based on the principles of transparency, reciprocity and sustainability.
On 3 May 2021, the Fair Tenancy Industry Committee (FTIC) was set up to be the custodian of the Code. The FTIC provides guidance to landlords and tenants of qualifying retail premises so that fair and balanced lease negotiations can be achieved. It is represented by both landlords and tenants, as well neutral parties, to offer a holistic approach when addressing matters related to retail lease agreements.
The FTIC gave an update on its work over the past year on 18 July 2022, including the recent revisions to the CoC. FTIC has also been gathering feedback to aid in fine-tuning the CoC. Taking in the various feedback, FTIC made revisions to the CoC to minimise ambiguity of the clauses and to better cater to the needs of the industry. The revised CoC was published on 15 March 2022 and came into effect on 1 June 2022.
Please visit https://www.ftic.org.sg/ for more information on the FTIC, and the CoC or for filing of joint declaration of deviation.DOWNLOAD THE COC