The Friendly Loan Agreement is designed for use in Indonesia when individuals or small business owners need to formalize a loan arrangement with family members, friends, or close associates. This document type is particularly relevant when parties want to maintain their personal relationship while ensuring legal protection under Indonesian law. The agreement includes all essential elements required by the Indonesian Civil Code (KUHPerdata) such as clear identification of parties, loan terms, and repayment conditions, while keeping the language and structure accessible to non-legal professionals. It's especially useful for situations where traditional bank financing isn't suitable or desired, but parties still want proper documentation of their arrangement. The document accommodates both interest-free and interest-bearing loans, and can be customized to include security provisions if required.
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1. Parties: Identification of the Lender and Borrower with their complete legal names and addresses
2. Background: Brief context of the friendly loan arrangement and relationship between parties
3. Definitions: Key terms used in the agreement including 'Loan Amount', 'Interest Rate' (if applicable), 'Repayment Date'
4. Loan Details: Specific amount being loaned, currency, and purpose of the loan
5. Interest: Whether interest applies, and if so, the rate and calculation method
6. Repayment Terms: Payment schedule, method of payment, and any installment arrangements
7. Representations and Warranties: Basic statements about the borrower's ability to repay and legal capacity to enter the agreement
8. Events of Default: Simple definition of default events and consequences
9. Governing Law: Confirmation that Indonesian law governs the agreement
10. Signatures: Execution block with space for signatures, names, dates, and witness signatures if required
1. Security: Include if any assets are being provided as security for the loan
2. Early Repayment: Include if early repayment is allowed and any associated terms
3. Late Payment: Include if there are specific consequences or penalties for late payment
4. Assignment: Include if either party needs the right to transfer the loan to another party
5. Force Majeure: Include if parties want to address unforeseen circumstances affecting repayment
6. Dispute Resolution: Include if parties want to specify mediation or other dispute resolution methods before court proceedings
1. Schedule 1 - Payment Schedule: Detailed breakdown of payment dates and amounts if installment payments are agreed
2. Schedule 2 - Security Details: Description of any security provided, only required if security is part of the agreement
3. Appendix A - Proof of Funds: Optional documentation showing source of loan funds for transparency
4. Appendix B - Related Correspondence: Optional inclusion of any relevant email or written communications regarding loan terms
Relevant legal definitions
Clauses
Relevant Industries
Personal Finance
Small Business
Family Business
Retail
Agriculture
Real Estate
Education
Healthcare
Professional Services
Local Commerce
Relevant Teams
Legal
Finance
Compliance
Risk Management
Administration
Documentation
Business Operations
Private Banking
Family Office
Credit Administration
Relevant Roles
Small Business Owner
Entrepreneur
Financial Advisor
Personal Finance Manager
Legal Administrator
Compliance Officer
Business Development Manager
Family Business Manager
Private Lender
Financial Controller
Risk Manager
Documentation Specialist
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