A Letter of Intent to Pay Outstanding Debt is commonly used in Indonesian business and personal contexts when a debtor wishes to formally acknowledge their debt obligations and commit to a payment plan. This document is particularly relevant when there's a need to restructure or formalize existing debt arrangements, or when seeking to prevent legal action by establishing a clear commitment to pay. While not creating a new debt obligation, it serves as strong evidence under Indonesian law of the debt's existence and the debtor's commitment to pay. The document should be drafted in compliance with the Indonesian Civil Code (KUHPerdata) and may be used in conjunction with other debt restructuring documents. It's especially useful in situations where parties want to document the terms of debt settlement without entering into a completely new contract.
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1. Letter Header and Date: Formal business letter header including date, reference number, and addresses of both parties
2. Subject Line: Clear indication that this is a Letter of Intent to Pay Outstanding Debt
3. Salutation: Formal greeting to the creditor
4. Debt Acknowledgment: Clear statement acknowledging the specific debt amount and its origin
5. Payment Commitment: Detailed commitment to pay, including specific amounts and timeline
6. Payment Terms: Specific details about payment method, currency, and schedule
7. Default Provisions: Consequences of failing to meet the payment commitment
8. Legal Declaration: Statement that this letter is made in good faith and understanding of legal obligations
9. Closing and Signature: Formal closing, signature block for debtor, and space for witness signatures
1. Guarantor Details: To be included when a third party is guaranteeing the debt payment
2. Collateral Declaration: When specific assets are being offered as security for the debt
3. Interest Terms: When there is an agreement on interest payments on the outstanding amount
4. Force Majeure Clause: When specific circumstances might affect payment ability and need to be acknowledged
5. Dispute Resolution: When parties want to specify how potential disputes will be handled
1. Schedule A - Debt Calculation: Detailed breakdown of the outstanding debt amount, including any interest or penalties
2. Schedule B - Payment Schedule: Detailed timeline of planned payments if being paid in installments
3. Schedule C - Supporting Documents: Copies of original debt agreements, invoices, or other relevant documentation
4. Schedule D - Collateral Details: If applicable, detailed description and documentation of any collateral being offered
Relevant legal definitions
Clauses
Relevant Industries
Banking & Financial Services
Real Estate
Construction
Manufacturing
Retail
Professional Services
Healthcare
Education
Technology
Agriculture
Mining
Transportation & Logistics
Hospitality
Import/Export
General Commerce
Relevant Teams
Legal
Finance
Accounts Payable
Treasury
Credit Control
Risk Management
Compliance
Corporate Secretariat
Debt Collection
Operations
Relevant Roles
Chief Financial Officer
Finance Director
Accounts Payable Manager
Credit Controller
Financial Controller
Treasury Manager
Legal Counsel
Compliance Officer
Risk Manager
Corporate Secretary
Debt Collection Officer
Account Manager
Business Development Manager
Operations Director
Managing Director
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