The Debt Resolution Agreement serves as a crucial legal instrument in Indonesian business and financial transactions, used when parties need to formalize arrangements for settling outstanding debt obligations. This document becomes necessary when a debtor faces challenges in meeting original debt obligations and both parties agree to modify terms for resolution. It must comply with Indonesian Civil Code requirements, Bankruptcy Law (Law No. 37 of 2004), and relevant OJK regulations. The agreement typically includes detailed payment schedules, interest modifications, security arrangements, and default provisions. It's particularly important in the Indonesian context where formal documentation of debt restructuring is required for legal enforcement and regulatory compliance. The document can be used in various scenarios, from corporate debt restructuring to individual debt resolution, providing a clear framework for debt settlement while protecting both creditor and debtor interests under Indonesian law.
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1. Parties: Identification of the creditor(s) and debtor(s), including their full legal names, addresses, and registration details if companies
2. Background: Context of the original debt, current situation, and purpose of the resolution agreement
3. Definitions: Definitions of key terms used throughout the agreement
4. Acknowledgment of Debt: Formal acknowledgment of the outstanding debt amount and its origins
5. Terms of Resolution: Details of how the debt will be resolved, including payment schedule, interest rates, and any debt reduction
6. Payment Mechanism: Specific details about how and where payments will be made
7. Representations and Warranties: Statements of fact by both parties about their capacity and authority to enter into the agreement
8. Default Provisions: Consequences and remedies in case of default on the resolution terms
9. Release and Discharge: Terms of release upon completion of the resolution plan
10. Confidentiality: Obligations regarding confidentiality of the agreement terms
11. Governing Law and Jurisdiction: Specification of Indonesian law as governing law and jurisdiction for disputes
12. Notices: How formal communications between parties should be made
13. Execution: Signature blocks and execution requirements
1. Security Arrangements: Include when the resolution involves collateral or security interests
2. Guarantor Provisions: Include when there are third-party guarantors for the debt
3. Asset Sale Provisions: Include when debt resolution involves sale of specific assets
4. Tax Considerations: Include when there are significant tax implications of the debt resolution
5. Insurance Requirements: Include when specific insurance must be maintained over collateral
6. Business Continuation Terms: Include when the debtor is a business and ongoing operations are relevant to repayment
7. Debt Subordination: Include when there are multiple creditors and priority needs to be established
1. Schedule A - Debt Details: Detailed breakdown of the outstanding debt, including principal, interest, and other charges
2. Schedule B - Payment Schedule: Detailed repayment schedule with dates and amounts
3. Schedule C - Security Details: Details of any security or collateral provided
4. Schedule D - Asset Register: List of relevant assets if applicable to the resolution
5. Appendix 1 - Original Loan Documentation: Copies or references to original debt documentation
6. Appendix 2 - Corporate Authorizations: Required corporate approvals and authorizations
7. Appendix 3 - Financial Statements: Relevant financial information supporting the resolution plan
Relevant legal definitions
Clauses
Relevant Industries
Banking
Financial Services
Real Estate
Manufacturing
Retail
Construction
Mining
Agriculture
Technology
Telecommunications
Healthcare
Transportation
Hospitality
Energy
Relevant Teams
Legal
Finance
Credit Control
Risk Management
Treasury
Compliance
Corporate Secretariat
Debt Recovery
Account Management
Operations
Collections
Relevant Roles
Chief Financial Officer
Finance Director
Legal Counsel
Credit Manager
Risk Manager
Collections Manager
Corporate Secretary
Treasury Manager
Debt Recovery Specialist
Financial Controller
Compliance Officer
Account Manager
Restructuring Specialist
Senior Legal Manager
Finance Operations Manager
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