The Contract Release Form is a critical legal instrument in Indonesian business and civil transactions, used when parties wish to formally terminate their contractual relationships and release each other from future obligations or potential claims. This document is particularly important in situations such as project completions, employment terminations, settlement of disputes, or business relationship conclusions. The form must be drafted in accordance with Indonesian Civil Code (KUHPerdata) and include mandatory elements such as clear identification of parties, specific details of the original contract being released, consideration provided, and explicit release language. It's essential to note that under Indonesian law, the document should be in Indonesian language (or bilingual if involving foreign parties) and must clearly state the governing law and jurisdiction. The Contract Release Form serves as a protective measure for all parties involved, providing legal certainty and preventing future disputes related to the terminated contract.
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1. Parties: Identification of all parties involved in the release, including their complete legal names, addresses, and registration numbers if applicable
2. Background: Context of the original contract(s) being released, including dates, purpose, and reason for the release
3. Definitions: Clear definitions of key terms used in the release form, including 'Release', 'Claims', 'Effective Date', and any other relevant terms
4. Release Terms: Detailed description of what is being released, including specific claims, rights, obligations, and liabilities
5. Consideration: Statement of the consideration being provided in exchange for the release
6. Effective Date: Clear specification of when the release becomes effective
7. Representations and Warranties: Statements from each party confirming their authority to enter into the release and understanding of its implications
8. Governing Law: Specification that Indonesian law governs the release and its interpretation
9. Language: Statement regarding the language(s) of the document and which version prevails (as per Law No. 24 of 2009)
10. Execution: Signature blocks and execution requirements for all parties
1. Surviving Obligations: Used when certain obligations from the original contract need to survive the release
2. Confidentiality: Include when parties need to maintain confidentiality about the original contract or the terms of release
3. Tax Implications: Required when the release has significant tax consequences that need to be addressed
4. Dispute Resolution: Include when specific dispute resolution mechanisms are needed for issues arising from the release
5. Third Party Rights: Necessary when the release affects rights of parties not directly signing the release
6. Return of Property: Include when physical or intellectual property needs to be returned as part of the release
7. Non-Disparagement: Used when parties agree not to make negative statements about each other after the release
1. Schedule of Released Contracts: List of all contracts and agreements being released, including dates and reference numbers
2. Schedule of Released Claims: Detailed list of specific claims or disputes being released
3. Schedule of Surviving Obligations: List of any obligations that will survive the release
4. Schedule of Settlement Payments: Details of any payments or consideration being exchanged as part of the release
5. Appendix of Required Notices: Copies of any required notices or communications related to the release
Relevant legal definitions
Clauses
Relevant Industries
Manufacturing
Construction
Financial Services
Technology
Real Estate
Energy
Mining
Healthcare
Education
Retail
Telecommunications
Professional Services
Agriculture
Transportation
Hospitality
Relevant Teams
Legal
Human Resources
Finance
Procurement
Risk Management
Compliance
Operations
Administration
Commercial
Corporate Secretariat
Business Development
Contract Administration
Relevant Roles
Legal Counsel
Contract Manager
Human Resources Director
Project Manager
Business Development Manager
Chief Executive Officer
Chief Financial Officer
Procurement Manager
Risk Manager
Compliance Officer
Operations Director
General Manager
Company Secretary
Commercial Director
Administrative Manager
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