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What is Renewal of Contract of Lease about?

This document summarizes the renewal of a lease contract between Philippine National Bank (LESSOR) and Handyware Philippines Inc. (LESSEE). Key details include: 1) The lease of 20,000 square meters located in Las Piñas City is renewed for one year from November 15, 2017 to November 14, 2018. 2) The monthly rental rate is increased to ₱700,000, subject to a 5% annual escalation rate. 3) The lessee will pay a two-month advance rental and security deposit upon signing. 4) Terms include payment of documen

Author

Richard Ivan Dela Cruz

Language

EN