What Is a Wayleave Agreement?

Written by lindsay pietroluongo
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What Is a Wayleave Agreement?
Electrical companies use wayleave agreements. (electrical box image by jimcox40 from Fotolia.com)

Wayleave agreements are a type of electricity agreement. Wayleaves are kept by the power companies, not the individual or business. Before signing a wayleave, it's important to understand that the agreement will legally bind you to whoever buys your property or sells it to you.

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Electricity Companies

Wayleave agreements must be agreed upon between different electricity companies as well as related associations. For example, in the U.K., a wayleave agreement must be settled on by the electrical company or companies, the Country Land and Business Association and farmers' unions.

Rates

Rates for the wayleave agreement vary according to the type and size of the company or companies.

Alternatives

A permanent easement is an alternative to a wayleave agreement. In a permanent easement, a granter can choose one sum and the electrical company will have the right to remove and maintain the electrical equipment in a certain area.

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