The Loan Termination Letter is a crucial document used in Indonesian banking and financial transactions to formally conclude a lending relationship. It is typically issued when a loan has been fully repaid or settled according to agreed terms, providing legal certainty under Indonesian law. The document must comply with the Indonesian Civil Code (KUH Perdata) and relevant banking regulations, including those issued by the Financial Services Authority (OJK). This letter serves multiple purposes: it confirms the full discharge of the borrower's obligations, releases any securities or collateral held, and provides documentary evidence of the loan's termination. It's particularly important in Indonesian jurisdiction where formal documentation of debt discharge is required for legal clarity and future reference.
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1. Letter Header and Date: Formal business letter header including sender's details, recipient's details, and date
2. Loan Reference Details: Clear identification of the loan agreement being terminated, including original date, loan reference number, and parties involved
3. Confirmation of Repayment: Statement confirming that all outstanding amounts have been repaid or settled
4. Termination Declaration: Clear statement declaring the loan agreement terminated and the effective date
5. Release Statement: Confirmation that all obligations under the loan agreement are discharged
6. Return of Security: Statement regarding the release of any security or collateral held
7. Closing and Signature: Formal closing, signature block for authorized signatory
1. Settlement Terms: Include when the termination involves a settlement different from the original loan terms
2. Surviving Obligations: Include when certain obligations survive the termination
3. Mutual Release: Include when both parties need to release each other from future claims
4. Confidentiality Statement: Include when specific confidentiality obligations need to be maintained post-termination
5. Tax Implications: Include when there are specific tax consequences that need to be acknowledged
1. Payment History Schedule: Detailed record of all payments made under the loan agreement
2. Settlement Calculation: Breakdown of final settlement amount if different from regular payment schedule
3. Security Release Documents: Copies of documents evidencing release of security or collateral
4. Outstanding Obligations Statement: List of any surviving obligations or warranties, if applicable
Relevant legal definitions
Clauses
Relevant Industries
Banking
Financial Services
Real Estate
Corporate Finance
Small and Medium Enterprises
Agriculture
Manufacturing
Retail
Infrastructure
Mining
Construction
Relevant Teams
Legal
Finance
Credit Administration
Risk Management
Compliance
Corporate Secretariat
Treasury
Loan Operations
Client Relations
Document Management
Relevant Roles
Chief Financial Officer
Finance Director
Legal Counsel
Loan Officer
Credit Manager
Banking Relationship Manager
Corporate Secretary
Risk Manager
Compliance Officer
Treasury Manager
Account Manager
Legal Director
Collections Manager
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