The Assignment Of Purchase And Sale Agreement is a crucial legal instrument used in Indonesian business transactions when a party wishes to transfer their rights and obligations under an existing purchase agreement to another party. This document is commonly utilized in various scenarios, such as corporate restructuring, asset portfolio management, or when a party needs to exit a transaction but wants to preserve the underlying deal. The agreement must conform to Indonesian civil law requirements and may need notarization depending on the nature of the underlying purchase agreement. It typically includes detailed provisions about the assignment's scope, parties' obligations, warranties about the original agreement's validity, and any necessary regulatory or third-party approvals. This document is particularly important in Indonesia's dynamic business environment, where property and asset transfers are common and require careful legal structuring to ensure enforceability.
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1. Parties: Identifies the Assignor (original party), Assignee (new party), and may include the counterparty to the original agreement
2. Background: Describes the original Purchase and Sale Agreement and the intention to assign rights and obligations
3. Definitions: Defines key terms used in the agreement, including references to the original agreement and parties
4. Assignment: Core clause specifying the rights and obligations being transferred from Assignor to Assignee
5. Consideration: States the payment or other consideration for the assignment
6. Effective Date: Specifies when the assignment takes effect
7. Assignor's Representations and Warranties: Statements about the validity of the original agreement and Assignor's right to assign
8. Assignee's Covenants: Assignee's commitment to perform the assigned obligations
9. Further Assurance: Commitment to execute additional documents if needed to effect the assignment
10. Governing Law: Specifies Indonesian law as governing law
11. Dispute Resolution: Procedures for resolving any disputes arising from the assignment
12. Notices: Contact details and methods for formal communications
13. Execution: Signature blocks and execution requirements
1. Counterparty Consent: Required if the original agreement requires consent for assignment
2. Partial Assignment: Used when only certain rights or obligations are being assigned
3. Security Provisions: Required if the assignment is being made as security
4. Costs and Expenses: Allocation of costs related to the assignment, if significant
5. Confidentiality: If additional confidentiality obligations are needed beyond those in the original agreement
6. Tax Provisions: Required if there are specific tax implications or allocations
7. Registration Requirements: Required if the assignment needs to be registered with authorities
1. Schedule 1 - Original Purchase and Sale Agreement: Copy of the agreement being assigned
2. Schedule 2 - Specific Rights and Obligations: Detailed list of rights and obligations being assigned (especially important for partial assignments)
3. Schedule 3 - Consent Documentation: Any required consent forms or approvals from counterparties
4. Schedule 4 - Property Details: If the purchase agreement relates to property, details of the property involved
5. Schedule 5 - Payment Details: Details of any consideration and payment arrangements for the assignment
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Construction
Manufacturing
Retail
Commercial Property
Industrial
Agriculture
Mining
Energy
Infrastructure
Hospitality
Technology
Relevant Teams
Legal
Commercial
Finance
Compliance
Risk Management
Corporate Secretariat
Real Estate
Operations
Procurement
Business Development
Investment
Asset Management
Relevant Roles
Legal Counsel
Contract Manager
Business Development Manager
Property Manager
Commercial Director
Chief Financial Officer
Investment Manager
Asset Manager
Compliance Officer
Risk Manager
Corporate Secretary
Real Estate Manager
Procurement Manager
Operations Director
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