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The Purchase Agreement For Commercial Property is a crucial legal document used in Indonesian property transactions to formalize the sale and purchase of commercial real estate. It is essential when any business entity or individual wishes to acquire commercial property in Indonesia, whether for business operations, investment, or development purposes. The agreement must comply with Indonesian property law, particularly the Basic Agrarian Law (Undang-Undang Pokok Agraria) and related regulations. This document typically includes detailed property descriptions, purchase terms, conditions precedent, completion requirements, and post-completion obligations. It addresses specific Indonesian legal requirements such as land certificate verification, tax obligations, and property registration procedures. The agreement is particularly important given Indonesia's unique land title system and restrictions on foreign ownership, requiring careful consideration of these elements in the drafting process.

1. Parties: Identification of the seller and purchaser, including complete legal names, registration numbers, and addresses

2. Background: Context of the transaction, including brief description of the property and purpose of the agreement

3. Definitions: Definitions of key terms used throughout the agreement

4. Sale and Purchase: Core agreement to sell and purchase the property, including the basic terms

5. Purchase Price: Detailed breakdown of the purchase price, payment terms, and payment method

6. Deposit: Terms regarding the deposit amount, payment timing, and conditions for retention or return

7. Conditions Precedent: Conditions that must be satisfied before completion can occur

8. Pre-Completion Obligations: Obligations of both parties between signing and completion

9. Property Inspection: Rights and procedures for property inspection before completion

10. Title and Capacity: Seller's warranties regarding ownership and authority to sell

11. Completion: Process and requirements for completing the transaction

12. Post-Completion Matters: Obligations after completion, including registration and handover

13. Representations and Warranties: Standard warranties by both parties

14. Default and Termination: Consequences of default and circumstances allowing termination

15. Dispute Resolution: Process for resolving disputes between parties

16. Governing Law: Confirmation of Indonesian law as governing law

17. Notices: Process for giving formal notices under the agreement

18. General Provisions: Standard boilerplate clauses including severability, entire agreement, etc.