A full repairing and insuring (FRI) lease of one or more floors of an office block. The landlord retains and repairs all external and structural parts of the building and recovers the costs through a service charge. The tenant is responsible for interior repair only.

The lease has been specifically drafted to comply with the Code for Leasing Business Premises in England and Wales 2007 (Lease Code 2007).

It also aims to comply with the RICS Professional statement on service charges in commercial property (1st edition, September 2018) which is effective from 1 April 2019. It is also consistent with the previous version, the RICS Charge Code on service charges in commercial property (third edition) (commonly known as the Service Charge Code).

For standalone service charge provisions that aim to comply with the RICS Statement (rather than a complete lease), see Standard clause, Optional service charge provisions for lease of part of office (compliant with first edition of RICS statement on service charges in commercial property).

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NOTE: The RICS Professional statement: Code for Leasing Business Premises, England and Wales (1st edition, February 2020) (Lease Code 2020) is effective from 1 September 2020 and replaces the Code for Leasing Business Premises in England and Wales 2007. Therefore, this standard document is no longer maintained and has been replaced by Standard document, Lease of part: office (complies with Lease Code 2020).