Jurisdiction(s):
United Kingdom

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Key definition

Renewal definition

What does Renewal mean? Renewal describes, in insurance practice, the continuation of cover for a further period (often 12 months) at the renewal date or policy anniversary, usually by agreeing to pay the renewal premium on the terms set out in the renewal invitation or policy conditions. It is a descriptive contractual concept rather than a term defined uniformly by statute or case law, and usage is broadly consistent across England & Wales, Scotland, Northern Ireland and Ireland. In life assurance, renewal commonly refers to the annual policy anniversary at which renewal premiums fall due and, depending on the policy wording, the policyholder may vary...

Contracting out a renewal lease: simple or statutory declaration?

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Under Part II of the Landlord and Tenant Act 1954 (LTA 1954), security of Tenure covers most business leases, save where the parties have ‘contracted out’ of those rights. Section 38A of the LTA 1954 permits landlord and tenant to agree that security of tenure will not apply. To make the agreement effective, the parties must comply with the contracting-out process specified in LTA 1954, s 38A(3) and Regulatory Reform (Business Tenancies) (England & Wales) Order 2003 (RRO 2003), SI 2003/3096, Sch 2...

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Web page updated on 27/05/2026

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Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

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