The City of London’s Facility Rental Agreement is a contract between the City and Licensee (renter) that gives the renter the right to occupy the facility for the length of time and purpose described in the Agreement.
Since the rental agreement is an important part of the City – Licensee relationship, it is in writing. The written agreement outlines the terms and conditions agreed to by both parties. Once the contract is signed, it cannot be changed unless both parties agree.
The contract presented to renters, beginning in August 2008, contains terms and conditions relating to responsibilities and insurance requirements that are similar to contracts in earlier years. However, the changes make the legal responsibilities of both parties clearer than previous contracts did. These changes were deliberately made to reduce the chance of either party misunderstanding their obligations.
Note: For more information about insurance coverage, we suggest Renters contact their own agent or broker for advice about their specific circumstances.