On 3 May 2021, key representatives from Singapore’s landlord and tenant communities, together with industry experts formed the Fair Tenancy Industry Committee (FTIC) to be the custodian of the Code of Conduct for Leasing of Retail Premises in Singapore and address matters related to retail lease agreements.
The FTIC comprises 17 members who are elected to oversee matters related to fair tenancy for retail premises in Singapore. The FTIC plays an important role to create a symbiotic landlord-tenant ecosystem in which all stakeholders reap long-term benefits from the increased vibrancy and competitiveness of Singapore’s retail and F&B industries.
To create a vibrant retail industry where landlords and tenants form symbiotic and sustainable relationships.
To equip the industry with the knowledge of the Code that serves as a mandatory guide to fair retail tenancy negotiation.
To ensure that the Code is kept up to date with the latest market practices, guided by the principles of transparency, fairness, reciprocity and sustainability.
To monitor the performance of the Code and submit recommendations to the Government to enhance the regulatory framework.
Create a vibrant retail industry
Where landlords and tenants form symbiotic and sustainable relationships
Filing of Joint Declaration of Deviation from the Code.
For clauses where the Code of Conduct allows for deviation, a joint declaration of deviation shall be filed with FTIC within 14 days of signing of lease agreement if both parties agree with the deviation.
The FTIC has partnered with Singapore Mediation Centre (SMC) to ensure that there will be timely resolution of dispute over tenancy issues. After the matter has been escalated, the average waiting time is up to two weeks for SMC to facilitate the discussion between the landlord and tenant.
SMC has mediated more than 4,800 matters worth over $10 billion since its launch
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Note: Website is best viewed with Google Chrome browser. CoC version 3 has been updated and will take effect from 1 February 2024. Please note that a filing fee of $100 (subject to GST) per deviation will be applicable with effect from 1 February 2024
