Individual Capcity ¡V The Formal Tenancy Agreement is signed by an individual in his own name and he/she is responsible for performing and observing the terms and conditions of the Tenancy Agreement.

Company Limited ¡V The Formal Tenancy Agreement is signed by a company incorporated in Hong Kong or Overseas as the Tenant. The occupant is usually identified in the Tenancy Agreement. The company is responsible for performing and observing the terms and conditions of the Tenancy Agreement.

Payable in advance on a monthly basis. Rent usually excludes Utilities, Government Rates, Government Rent and Management Fees

The Usual lease term is for a period of 2 years. Occasionally 3years may be obtained.

Initial Deposit - Upon the Landlord's acceptance of the offer, an initial deposit equivalent to 1 month's rent(plus Management fees and Government rates & rent)is usually paid to the Landlord. This deposit becomes the first month's rent when the Formal Tenancy Agreement is signed.

Security Deposit - Usually equivalent to 3 months rent(plus Management fees and Government rates & rent) and is payable by the Tenant to the Landlord upon signing the Formal Tenancy Agreement. The Landlord retains the security deposit for the duration of the Tenancy. This will be returned in full without interest subject to the Landord's right to deduct from the Security Deposit any loss and damages sustained by the Landlord.

Payable to the Government based on the average annual rental and the length of the tenancy and which shall be, usually shared equally between the Landlord and the Tenant.

Payable to the Government on a quarterly basis on 5% of the ratable value of the property as evaluated by the Government, usually paid by the Tenant.

Government Rent is calculated at 3% of the ratable value of the property and is charged quarterly together with Government Rates, usually paid by Tenant.

Tenant shall pay the management fee of the Building. The fee is quoted on per square foot per month and is non-negotiable and may be revised from time to time by the Landlord or the Management Company.

The Tenant is responsible for the following utilities:

•  Electricity
•  Water
•  Telephone/ Internet
•  Tax as imposed by the government from time to time
•  Other outgoings

Tenant and Landlord may appoint their own legal representatives. Each party bears its own costs.