Document assembly and contract automation specialists
June 12, 2002
Breakthrough in Legal Processing
The BRITISH PROPERTY FEDERATION (BPF) announced today that its Short-Term Commercial Lease is now available online, as a dynamic interactive agreement. Comprehensive and legally up to date leases can be generated in minutes, direct from the BPF's website www.bpf.org.uk by completing a simple online questionnaire.
The concept, conceived by City solicitors Tarlo Lyons noted for their property and technology expertise, is based on DealBuilder, a breakthrough legal automation technology, developed by Business Integrity, a London based software company.
Liz Peace, BPF Director General said "This new development presents an outstanding opportunity to reduce delays and costs in property transactions. We hope that our approach will become the standard practice in the delivery of routine documents".
"This is a consensus based form. It is designed to strike a fair balance between the interests of the landlord and of the tenant. As a result both parties should be able to conduct their business more efficiently. For the tenant this will mean being able to occupy the premises more quickly, with fewer resources being diverted to lease negotiations and for the landlord, it will mean working to a standard widely recognised as acceptable to the business community, large and small".
Philip Diamond, head of commercial property at Tarlo Lyons said "With
a short term letting, the landlord should be in a position to use his
knowledge and experience of the property to produce a package which, as
far as possible, does not give rise to unexpected costs to be paid by
the tenant. We are convinced that businesses wishing to occupy property
for a relatively short period will welcome this package.
"Written in plain English, with legal terms being used only where strictly
necessary, the BPF Short-Term Commercial Lease can be used for the temporary
occupation (typically a few months, possibly up to two to three years)
of all types of property, from a shop in a parade, temporarily vacant,
to a short lease of office premises pending re-development. The lease
has been drafted for flexibility, and is capable of being used for whole
buildings, as well as parts of buildings and units on an estate."
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