Authorised Guarantee Agreements (AGAs)
Authorised Guarantee Agreements (AGA) are commonplace in leasing commercial property. They are a legally binding agreement aimed at protecting a landlord in the case where a tenant sells or assigns their lease to a new tenant. Under an AGA, an outgoing tenant can guarantee some or all of the obligations of an incoming tenant.
Ultimately, AGAs aim to strike a balance between the liability of a tenant who assigns a lease and to protect the landlord’s interests, if the new tenant proves unreliable and fails to meet terms of the lease.
It’s important that tenants entering into a lease of a commercial property understand the implications, risks and potential negotiating of the assignment of AGAs, and to carefully consider a lease that includes one.
If you’re wondering whether you should sign an AGA, how to negotiate terms, or for further advice on any matters regarding this type of commercial agreement, please get in touch with our team today and we will refer you to one of our partners specialising in commercial law.
Get a call back
If you need to speak to us about a general query fill in the form below and we will call you back within the same working day.
News and Insights
On 20th July, the Government announced reforms to tax reporting designed to make the returns process easier for small businesses and the self-employed. What are the current rules? Under the…
A new survey of managers undertaken amid the continuing relaxation of COVID-19 restrictions in England has revealed concerns among many respondents that measures designed to limit the spread of the vi…
‘Very knowledgeable, helpful and super responsive’
‘Excellent Professional and Friendly Service’
‘We know we are in good hands!’
Kevin Godding- Coffee shop, London
‘Refreshing and supportive’
‘Down to earth advice’
‘Overall it has been an excellent experience’
Ian Tarry- in-house training company
‘Very Positive Experience’
Clifton Contracting Ltd
‘Professional & friendly service, very helpful’
‘Recommend to anyone in business’
Recommend to anyone in business for great down to earth advice at a sensible price.
Marl Lyes- Trinity House 3 Ltd
‘The whole process seemed a lot easier than first imagined!’
Once the basic setup was sorted I was allocated Emma, who was available then to guide me should I have any queries! Thorough training on Quickbooks and always available (within office hours) to sort my mess up or any queries no matter how mad they seemed! Always willing to help and no task to small! Thoroughly recommend Emma to anyone looking to use TS Partners as their accountants!
5 months in and still running smoothly! With no grey hairs in sight! (YET!)
Thanks to Emma, Matt and the team at Tax Shop, Wellington
Dominic Buck- Car Valet company