Post Approval Process

A letter of intent and the proposed lease agreement will be issued to the successful applicant within two (2) weeks of internal approval.

The Letter of Intent will outline the offer being made and will capture the following:

• The lease rate applicable to the space to be occupied
• Any relevant waiver on lease payments
• The premium to be paid
• The applicable common services fee
• General terms and conditions of the proposed lease agreement
• The applicant will be required to sign the Letter of Intent – This must be signed by the applicant within one (1) month from the date of issuance
• Payment of Commitment Fee - When the Letter of Intent is signed, a non-refundable commitment fee, equivalent to one (1) month’s lease rent, must be paid, or the offer will be withdrawn
• Signed Lease Agreement – The applicant must then sign the Lease Agreement within three (3) months of signing the Letter of Intent

Subsequent to signing the Lease Agreement, the prospective tenant will have a specific time frame within which to occupy the assigned space and commence commercial operations:

• Built Development Zone Tenants - three (3) months
• Land-based Tenants - one (1) year

The nature of business operations must remain within the stated economic activity of the proposed business venture. It is the responsibility of the applicant to discuss with E-IDCOT any need to adjust these proposed operations. Should this be agreed to by E-IDCOT, the relevant adjustments will be made to the lease agreement.