Put and call option—fixed price or market value incorporating the Standard Commercial Property Conditions (Second Edition)
Put and call option—fixed price or market value incorporating the Standard Commercial Property Conditions (Second Edition)

The following Property guidance note provides comprehensive and up to date legal information covering:

  • Put and call option—fixed price or market value incorporating the Standard Commercial Property Conditions (Second Edition)
  • Parties
  • Schedule 1The Conditions
  • Schedule 2 [Buyer’s Valuation Notice
  • Schedule 3 [Seller’s Valuation Notice
  • Schedule 4Buyer’s Option Notice
  • Schedule 5Seller’s Option Notice

This Agreement is made on [date]

Parties

  1. 1

    [insert name of Seller] [ of [insert address] OR incorporated in England and Wales with company registration number [insert company registration number] whose registered office is at [insert address]] (the 'Seller')

  1. 2

    [insert name of Buyer] [ of [insert address] OR incorporated in England and Wales with company registration number [insert company registration number] whose registered office is at [insert address]] (the 'Buyer')

  1. 1

    Definitions

  2. In this Agreement the following definitions apply:

    Buyer’s Option

    1. the option granted to the Buyer to require the Seller to transfer the Property[to the Buyer] in return for payment of the Price;

    [Buyer’s Option Fee

    1. £[insert figure] plus any VAT payable on it;]

    Buyer’s Option Notice

    1. a notice in the form set out in Schedule 4 to this Agreement;

    Buyer’s Solicitors

    1. [insert firm name] of [insert firm address] (reference [insert reference]) or such other solicitors as the Buyer may notify to the Seller in writing from time to time;

    [Buyer’s Valuation Notice

    1. notice served by the Buyer under clause 6.1 in the form set out in Schedule 2;]

    Completion

    1. the date on which a transfer