An Amended Settlement Agreement is utilized when parties need to modify the terms of an existing settlement agreement while maintaining its basic framework. This document type is particularly relevant in Indonesia's business environment where changing circumstances, regulatory requirements, or business conditions necessitate adjustments to previously agreed settlements. The agreement must comply with Indonesian law, particularly the Civil Code (KUHPerdata) and Law No. 30 of 1999 regarding Alternative Dispute Resolution. It typically includes detailed references to the original settlement agreement, specific amendments, continuing obligations, and updated terms. The document is commonly used in commercial disputes, corporate restructuring, debt settlements, and various business transactions where parties need to formalize changes to their original settlement terms while ensuring legal validity under Indonesian jurisdiction.
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1. Parties: Identification of all parties to the amended settlement agreement, including their legal status and addresses
2. Background: Recitals explaining the original settlement agreement, reasons for amendment, and any relevant history of the dispute
3. Definitions: Definitions of key terms used in the agreement, including terms from the original settlement agreement that remain applicable
4. Reference to Original Agreement: Specific reference to the original settlement agreement including its date and parties
5. Amendments: Detailed description of specific amendments to the original settlement agreement, clearly identifying replaced, modified, or added provisions
6. Continuing Effect: Confirmation that non-amended provisions of the original agreement remain in full force and effect
7. Settlement Terms: Updated settlement terms, including any modified payment terms, obligations, or commitments
8. Release and Waiver: Updated provisions regarding mutual release of claims and waiver of rights
9. Representations and Warranties: Updated statements of fact and assurances from each party
10. Governing Law: Confirmation of Indonesian law as governing law and jurisdiction
11. Execution: Signature blocks and execution requirements complying with Indonesian law
1. Conditions Precedent: Required when certain conditions must be met before the amendments take effect
2. Tax Provisions: Include when the settlement involves significant payment terms or tax implications
3. Confidentiality: When parties wish to maintain confidentiality of the settlement terms and amendments
4. Dispute Resolution: When parties want to modify or specify detailed dispute resolution procedures
5. Language: Required when document is bilingual, specifying which version prevails
6. Corporate Approvals: When any party requires specific corporate or regulatory approvals
7. Third Party Rights: When amendments affect rights of third parties mentioned in original agreement
8. Force Majeure: When parties want to modify or include specific force majeure provisions
1. Original Settlement Agreement: Copy of the original settlement agreement being amended
2. Amendment Matrix: Detailed comparison showing original clauses and their amended versions
3. Payment Schedule: If applicable, updated payment terms and schedules
4. Corporate Authorizations: Copies of relevant corporate approvals or authorizations
5. Supporting Documents: Any additional documents referenced in the amendments
6. Compliance Certificates: If required, certificates confirming compliance with conditions precedent
7. Power of Attorney: If applicable, documents authorizing representatives to sign
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Manufacturing
Real Estate and Construction
Mining and Natural Resources
Technology and Telecommunications
Energy and Utilities
Healthcare and Pharmaceuticals
Retail and Consumer Goods
Transportation and Logistics
Agriculture and Plantation
Insurance
Professional Services
Relevant Teams
Legal
Compliance
Corporate Secretarial
Finance
Risk Management
Corporate Affairs
Business Development
Operations
Treasury
Executive Management
Corporate Governance
Regulatory Affairs
Relevant Roles
Legal Director
Chief Legal Officer
Corporate Secretary
Compliance Officer
Chief Executive Officer
Chief Financial Officer
Risk Manager
General Counsel
Settlement Officer
Dispute Resolution Manager
Corporate Affairs Director
Business Development Director
Contract Manager
Legal Counsel
Company Director
Finance Manager
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