This office lease clause lists a way to provide for variances between the rentable area of a "to be built" demised premises and the actual area after construction.
The Rhode Island Remeasurement Clause is a legal tool utilized when discrepancies arise between the rentable area and actual area of a space to be built. This clause is typically included in lease agreements and construction contracts to ensure fair and accurate measurements of space allocation. By employing specific keywords related to this topic, let's dive into a detailed description of the Rhode Island Remeasurement Clause and its various types. The Rhode Island Remeasurement Clause is a safeguard used to address inconsistencies that may occur during the construction or leasing process. When variances exist between the rentable area specified in a contract and the actual area of the space being constructed, this clause becomes pertinent. It allows the parties involved to reconcile these differences and obtain an equitable resolution. In Rhode Island, there are several types of Remeasurement Clauses that can be employed to address variances between the rentable and actual area of a space to be built. These clauses are designed to protect both landlords and tenants, ensuring transparency and fairness in lease agreements and construction contracts. Some types include: 1. Tentative Remeasurement Clause: This clause is often utilized during the pre-construction phase when the exact measurements of the space are still unknown. It provides a tentative calculation based on estimated dimensions, which can be adjusted once the space is finalized. 2. Post-Construction Remeasurement Clause: As the name suggests, this clause comes into play after the construction process is complete. It allows for accurate measurements to be taken and any variances to be addressed, providing an updated determination of the rentable area. 3. Immediate Remeasurement Clause: This type of clause is intended for situations where a variance is discovered early in the construction process. It allows for immediate action to measure and rectify any discrepancies without delay, ensuring accuracy from the start. 4. Arbitration Remeasurement Clause: In cases where there is a disagreement between the parties regarding the measured area, this clause ensures a fair resolution through arbitration. An impartial third party is engaged to assess the measurements and make a final determination. The Rhode Island Remeasurement Clause is crucial for maintaining trust and transparency between parties involved in lease agreements and construction contracts. It offers a systematic approach to addressing variances between the rentable and actual area of a space to be built, ensuring that all parties are fairly accounted for. By employing different types of Remeasurement Clauses based on the specific circumstances, potential disputes can be mitigated, and a harmonious outcome can be achieved.
The Rhode Island Remeasurement Clause is a legal tool utilized when discrepancies arise between the rentable area and actual area of a space to be built. This clause is typically included in lease agreements and construction contracts to ensure fair and accurate measurements of space allocation. By employing specific keywords related to this topic, let's dive into a detailed description of the Rhode Island Remeasurement Clause and its various types. The Rhode Island Remeasurement Clause is a safeguard used to address inconsistencies that may occur during the construction or leasing process. When variances exist between the rentable area specified in a contract and the actual area of the space being constructed, this clause becomes pertinent. It allows the parties involved to reconcile these differences and obtain an equitable resolution. In Rhode Island, there are several types of Remeasurement Clauses that can be employed to address variances between the rentable and actual area of a space to be built. These clauses are designed to protect both landlords and tenants, ensuring transparency and fairness in lease agreements and construction contracts. Some types include: 1. Tentative Remeasurement Clause: This clause is often utilized during the pre-construction phase when the exact measurements of the space are still unknown. It provides a tentative calculation based on estimated dimensions, which can be adjusted once the space is finalized. 2. Post-Construction Remeasurement Clause: As the name suggests, this clause comes into play after the construction process is complete. It allows for accurate measurements to be taken and any variances to be addressed, providing an updated determination of the rentable area. 3. Immediate Remeasurement Clause: This type of clause is intended for situations where a variance is discovered early in the construction process. It allows for immediate action to measure and rectify any discrepancies without delay, ensuring accuracy from the start. 4. Arbitration Remeasurement Clause: In cases where there is a disagreement between the parties regarding the measured area, this clause ensures a fair resolution through arbitration. An impartial third party is engaged to assess the measurements and make a final determination. The Rhode Island Remeasurement Clause is crucial for maintaining trust and transparency between parties involved in lease agreements and construction contracts. It offers a systematic approach to addressing variances between the rentable and actual area of a space to be built, ensuring that all parties are fairly accounted for. By employing different types of Remeasurement Clauses based on the specific circumstances, potential disputes can be mitigated, and a harmonious outcome can be achieved.
