Daelim Industrial Co., Ltd. is a Korean Engineering and Construction company. In 1966, Daelim became Korea's first company to work on an overseas construction project by entering the Vietnamese market.
Gross Lease. A lease in which the tenant pays a flat sum for rent out of which the landlord must pay all expenses such as taxes, insurance, maintenance, utilities, etc. Under this lease structure, all the tenant is responsible paying for is their stated rental rate, all other expenses are borne by the landlord. Full Service Lease. A lease which the tenant pays an all-inclusive rental rate which includes operating expenses and real estate taxes for the first year or Base Year.
Grace Period. Some lease agreements provide a grace period to allow tenants additional time to pay the rent without incurring a late fee. If no grace period is specified on the lease, the typical grace period respected by the courts is a minimum of three days. Failure to pay rent within the grace period will most certainly result in a late fee, but such a fee may not be excessive if it's to stay within the law.