A Debt Clearance Letter is essential in Indonesian business and personal transactions where there's a need to formally document the complete settlement of a debt obligation. This document is commonly used when loans are fully repaid, when business relationships involving credit are concluded, or when parties need to prove that no outstanding debts exist. The letter must comply with Indonesian Civil Code requirements and may need notarization for added legal weight. It typically includes details of the original debt, confirmation of full payment, and a clear release statement. In Indonesian business practice, having a formal Debt Clearance Letter is particularly important for maintaining clear financial records and preventing future disputes about debt obligations.
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Key Requirements PROMPT example:
Debt Clearance Letter
"I need a Debt Clearance Letter for a corporate loan of IDR 500 million that will be fully repaid on March 15, 2025, to be notarized and issued by our bank's Jakarta branch."
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1. Letter Header: Date, reference number, and formal letterhead including creditor's details
2. Addressee Details: Complete name and address of the debtor
3. Subject Line: Clear indication that this is a Debt Clearance Letter (Surat Pelunasan Hutang)
4. Debt Details: Original debt amount, date of debt creation, and any relevant agreement references
5. Payment Confirmation: Confirmation of the full payment received, including payment date and method
6. Release Statement: Clear statement confirming that the debt has been fully settled and the debtor is released from all related obligations
7. Closing: Formal closing statement, date, and signature block for creditor
1. Payment History: Detailed breakdown of payment history if the debt was settled in multiple installments
2. Related Agreements: References to other related agreements or documents if the debt was part of a larger transaction
3. Witness Section: Space for witness signatures if additional verification is required
4. Notary Statement: Section for notary verification if the letter needs to be notarized
5. Foreign Currency Statement: Required when the original debt was in foreign currency, stating the conversion rates and compliance with Indonesian currency laws
1. Payment Receipt: Copy of the final payment receipt or bank transfer confirmation
2. Original Debt Agreement: Copy of the original agreement or document that created the debt obligation
3. Payment History Statement: Detailed statement showing all payments made and dates if paid in installments
4. Related Correspondence: Copies of any relevant correspondence regarding the debt settlement
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Relevant legal definitions
Clauses
Relevant Industries
Banking & Financial Services
Real Estate
Commercial Lending
Retail
Manufacturing
Construction
Professional Services
Small & Medium Enterprises
Agriculture
Import/Export
Educational Institutions
Healthcare
Relevant Teams
Legal
Finance
Accounts Receivable
Treasury
Credit Control
Compliance
Corporate Secretariat
Risk Management
Collections
Account Management
Relevant Roles
Finance Manager
Credit Controller
Accounts Receivable Manager
Legal Counsel
Chief Financial Officer
Treasury Manager
Credit Risk Manager
Collections Manager
Financial Controller
Compliance Officer
Corporate Secretary
Business Owner
Accountant
Debt Recovery Specialist
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