An advertising lease agreement is a legal contract between a company with advertising space, such as a billboard company, and the business that wants to promote its product or service. The purpose is to provide each party with a guideline for what is expected.
Each party involved in the contract will be named in the advertising lease agreement. This will include the names, address and contact information for the advertising space company, the lessor and the business requesting the lease, the lessee. Each party will sign the lease.
The advertising lease agreement will outline the terms of the contract. The terms will include the location of the advertising space and the duration of the lease. The agreement will indicate if, and how, the lessee can terminate the contract.
The contract will state the rental fee amount for the advertisement space. The lessor will note in the agreement if the payments can be made in installments and when payments are due.