The Extension Agreement is a crucial legal instrument under Indonesian law used when parties wish to continue their contractual relationship beyond the original term. This document type is particularly relevant when the original agreement is approaching its expiration date but the business relationship remains valuable to all parties. The Extension Agreement must comply with Indonesian Civil Code requirements and typically includes references to the original agreement, specific details about the extension period, and any modified terms. It's commonly used in various commercial contexts, from lease agreements to service contracts, and may require additional considerations such as regulatory approvals or corporate authorizations depending on the nature of the extended agreement. The document should be drafted in Indonesian language, with an English version if foreign parties are involved, and must be properly stamped in accordance with Indonesian stamp duty regulations.
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1. Parties: Identification of all parties to the agreement, matching the parties in the original agreement
2. Background: Reference to the original agreement, its date, and purpose, and the parties' intention to extend it
3. Definitions: Key terms used in the extension agreement, including reference to definitions in the original agreement
4. Extension of Term: Clear statement of the new extension period and effective date
5. Continuing Effect: Confirmation that all other terms and conditions of the original agreement remain in full force and effect
6. Governing Law: Confirmation of Indonesian law as the governing law
7. Language: Language requirements in accordance with Indonesian law, including dual language provisions if applicable
8. Execution: Signature blocks for all parties, including requirements for stamp duty
1. Modifications to Original Agreement: Include if any terms of the original agreement are being modified along with the extension
2. Additional Terms: Include if new terms are being added as part of the extension
3. Conditions Precedent: Include if the extension is subject to certain conditions being met
4. Representations and Warranties: Include if parties need to refresh their representations for the extension period
5. Regulatory Compliance: Include if specific regulatory requirements need to be addressed for the extension
6. Fees and Payments: Include if there are any changes to financial terms or extension-related fees
1. Original Agreement: Copy of the original agreement being extended
2. Timeline: If applicable, schedule showing the new timeline including the extension period
3. Modified Terms: If applicable, detailed list of any terms being modified
4. Required Approvals: If applicable, list of regulatory or corporate approvals required for the extension
5. Updated Commercial Terms: If applicable, schedule of any updated pricing, services, or commercial terms for the extension period
Relevant legal definitions
Clauses
Relevant Industries
Manufacturing
Technology
Real Estate
Mining
Oil and Gas
Agriculture
Financial Services
Retail
Construction
Healthcare
Education
Telecommunications
Transportation and Logistics
Hospitality
Energy
Relevant Teams
Legal
Compliance
Commercial
Business Development
Procurement
Operations
Finance
Risk Management
Corporate Secretariat
Contract Administration
Relevant Roles
Legal Counsel
Contract Manager
Business Development Manager
Commercial Director
Chief Legal Officer
Compliance Officer
Corporate Secretary
Project Manager
Procurement Manager
Operations Director
Chief Executive Officer
Chief Financial Officer
Risk Manager
Account Manager
Partnership Manager
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