free fit-out compensation

Arabic translation: تعويض مادي يدفعه المؤجر للمستأجر لتجهيز العين كحافز له لاستئجار العين

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:free fit-out compensation
Arabic translation:تعويض مادي يدفعه المؤجر للمستأجر لتجهيز العين كحافز له لاستئجار العين
Entered by: Morano El-Kholy

10:34 Jul 27, 2019
English to Arabic translations [PRO]
Law/Patents - Law: Contract(s)
English term or phrase: free fit-out compensation
In addition, we would like to bring to your attention the second paragraph in our letter dated 23 May 2019 where we clearly indicated that “the last proposal was rejected by XX” hence the additional free fit-out compensation period up-to 31 December 2018 not available for consideration upon the event XX decided to terminate the tenancy contract.
aya omar
Egypt
Local time: 03:39
تعويض مادي يدفعه المؤجر للمستأجر لتجهيز العين كحافز له لاستئجار العين
Explanation:
مبلغ متفق عليه يدفعه المؤجر كنفقات لتجهيز العين للمستأجر كحافز له لاستئجار العين

Fit-out Contribution

Landlords sometimes give fit-out contributions as a lease incentive. This applies to the your fit-out works. A landlord can pay this contribution on a reimbursement basis, where you provide them with receipts showing the fit-out costs. Alternatively, the landlord may carry out the fit-out works under prior agreements to the value of the incentive amount.

If you elect for a fit-out contribution, you should know the trigger event for how the landlord will pay. It is a standard requirement that the landlord will not pay a fit-out contribution until you have:

executed the lease;
provided the security required under the lease. For example, a bank guarantee or security deposit;
taken out the necessary insurance policies; and
submitted the plans and specifications for the fit-out work for the landlord’s approval.

The landlord may require you to produce several quotes for the fit-out work. In this case, the landlord may decide to pay the cheapest quote provided.

https://legalvision.com.au/what-are-lease-incentives/
**************
On initial lettings of commercial property it is standard market practice to allow the tenant an initial fitting out allowance, generally by way of a rent 
free period. This rent free period is intended, in theory, to reflect the tenant’s time and expense incurred in fitting out the premises but is rarely calculated by reference to the actual time or cost of 
the tenant’s works. In the case of retail units it has become common market practice to offer a standard three-month rent free period.

http://www.inhouselawyer.co.uk/legal-briefing/rent-free-fitt...

والله أعلم
Selected response from:

Morano El-Kholy
Egypt
Local time: 03:39
Grading comment
4 KudoZ points were awarded for this answer



Summary of answers provided
5عِوَضٌ اختياريٌّ/إرادِيٍّ عن التجهيزات
Ahmed Abdel-Aziz
4تعويض عن التجهيز دون مقابل
Hassan Achahbar
4بدل نفقات تجهيز المكان / تعويض تكاليف تجهيز المكان
Ebrahim Mohammed
3تعويض مادي يدفعه المؤجر للمستأجر لتجهيز العين كحافز له لاستئجار العين
Morano El-Kholy


  

Answers


13 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
تعويض عن التجهيز دون مقابل


Explanation:
تعويض عن تجهيز المحل المكترى

Hassan Achahbar
Morocco
Local time: 01:39
Works in field
Native speaker of: Arabic
PRO pts in category: 52
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20 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
free fit-out compensation
تعويض مادي يدفعه المؤجر للمستأجر لتجهيز العين كحافز له لاستئجار العين


Explanation:
مبلغ متفق عليه يدفعه المؤجر كنفقات لتجهيز العين للمستأجر كحافز له لاستئجار العين

Fit-out Contribution

Landlords sometimes give fit-out contributions as a lease incentive. This applies to the your fit-out works. A landlord can pay this contribution on a reimbursement basis, where you provide them with receipts showing the fit-out costs. Alternatively, the landlord may carry out the fit-out works under prior agreements to the value of the incentive amount.

If you elect for a fit-out contribution, you should know the trigger event for how the landlord will pay. It is a standard requirement that the landlord will not pay a fit-out contribution until you have:

executed the lease;
provided the security required under the lease. For example, a bank guarantee or security deposit;
taken out the necessary insurance policies; and
submitted the plans and specifications for the fit-out work for the landlord’s approval.

The landlord may require you to produce several quotes for the fit-out work. In this case, the landlord may decide to pay the cheapest quote provided.

https://legalvision.com.au/what-are-lease-incentives/
**************
On initial lettings of commercial property it is standard market practice to allow the tenant an initial fitting out allowance, generally by way of a rent 
free period. This rent free period is intended, in theory, to reflect the tenant’s time and expense incurred in fitting out the premises but is rarely calculated by reference to the actual time or cost of 
the tenant’s works. In the case of retail units it has become common market practice to offer a standard three-month rent free period.

http://www.inhouselawyer.co.uk/legal-briefing/rent-free-fitt...

والله أعلم

Morano El-Kholy
Egypt
Local time: 03:39
Specializes in field
Native speaker of: Native in ArabicArabic
PRO pts in category: 71
Login to enter a peer comment (or grade)

1 day 6 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
بدل نفقات تجهيز المكان / تعويض تكاليف تجهيز المكان


Explanation:

‘Fit out’ is a term used to describe the process of making interior spaces suitable for occupation. It is often used in relation to office developments, where the base construction is completed by the developer, and the final fit out by the occupant. The occupant will generally be leasing space as a tenant from the developer/landlord.

https://www.designingbuildings.co.uk/wiki/Fit_out_of_buildin...


fit-out تكاليف التجهيز

Ebrahim Mohammed
Germany
Local time: 02:39
Works in field
Native speaker of: Native in ArabicArabic
PRO pts in category: 16
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1 day 23 hrs   confidence: Answerer confidence 5/5
عِوَضٌ اختياريٌّ/إرادِيٍّ عن التجهيزات


Explanation:
عِوَضٌ اختياريٌّ/إرادِيٍّ عن التجهيزات

عِوَض: (اسم)

الجمع : أَعْوَاضٌ
العِوَضُ : بَدَل ، خَلَف ، مقابل ، ما يُعطَى تعويضًا عن شيء
عِوَضاً عَنْ ذَلِكَ : بَدَلاً عَنْ

https://www.almaany.com/ar/dict/ar-ar/عِوَض/

https://www.almaany.com/en/dict/ar-en/عِوَض/

Free: إراديّ/اختيارِيّ , Free actions. (2-ب)
Source: Al-Mawrid Al-Hadeeth, page 467.

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Note added at 1 day 23 hrs (2019-07-29 10:21:23 GMT)
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إرادِيّ: نابع عن الإرادة الشخصية ولا إجبار فيه

Ahmed Abdel-Aziz
Egypt
Local time: 03:39
Native speaker of: Arabic
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