A farm business tenancy (FBT) of agricultural land and buildings let to a single tenant for a fixed term of more than two years.

The repairs clause contains various options enabling the parties to negotiate the extent of the tenant's repairing obligations, and the insurance clause sets out the respective responsibilities of the landlord and tenant in relation to insurance. This FBT will not automatically come to an end on its term date but will continue as an annual periodic tenancy until brought to an end by either party giving notice.

Before signing the tenancy, the landlord and the tenant should exchange written notices stating that the tenancy is to be and is to remain a farm business tenancy. This is less important if the parties intend to rely on the agricultural condition and there is no chance of diversification into non-agricultural activities. See Standard document, Notice under section 1(4) of the Agricultural Tenancies Act 1995.