A Shopping Mall Goods Liquidation Contract outlines terms for the sale or disposal of goods, including pricing, inventory management, timelines, responsibilities, and conditions for liquidation.
Purpose and Term: Defines the specific purpose as the Orderly Disposal of the Tenant's remaining inventory and fixtures within the leased premises. Specifies the Maximum Liquidation Period (e.g., 30 days) allowed before the space must be vacated.
Pricing and Advertising: Requires the Tenant to conduct the liquidation sale at Aggressively Discounted Prices and mandates that all Advertising and Signage related to the sale (e.g., "Store Closing," "Everything Must Go") must be approved in advance by Mall Management.
Tenant Obligations during Liquidation: The Tenant remains responsible for all Utilities, Base Rent, and Common Area Maintenance (CAM) Fees until the premises are surrendered, regardless of the reduced operational scope.
Mall Management Control: Grants the Mall Management the right to Monitor and Supervise the liquidation process to ensure it is conducted in a professional manner that does not negatively impact adjacent tenants or the mall's public image.
Premises Handover: Upon expiration of the liquidation term, the Tenant is obligated to immediately Vacate the Premises, remove all remaining inventory and fixtures, and return the space to its Original Condition (or as otherwise agreed).
Non-Compete Clause: The Mall Management may require the Tenant to agree to a Temporary Non-Compete Clause preventing them from opening a similar liquidation sale within a defined radius of the Mall for a set period.
STRATEGIC BENEFITS OF USING THIS AGREEMENT TEMPLATE
Manages the Transition of the vacated space efficiently, ensuring a fast timeline for inventory removal and unit restoration.
Protects the Mall's Brand by controlling the nature of the distress sale advertising and maintaining order during the liquidation process.
Facilitates the Leasing Process for the next tenant by ensuring the premises are ready for the next fit-out quickly.