1. A full repairing and insuring (FRI) is a type of commercial property lease in which the tenant is responsible for both the cost of repairing and maintaining the property, as well as insuring it against damage or loss.
2. This means that the tenant must keep the property in good condition and repair any damage that occurs during the lease.
3. Additionally, the tenant must purchase insurance for the property and provide evidence of the insurance to the landlord. The landlord is not responsible for any repairs or insurance costs during the lease.