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A Simple Note Payable Agreement is commonly used in Indonesian business and personal transactions when one party agrees to pay a specified sum of money to another party under defined terms. This document is essential for both commercial and personal lending situations, providing a legally enforceable instrument under Indonesian law. The agreement typically includes the principal amount, interest rate, payment terms, and default provisions, all structured to comply with Indonesian Civil Code requirements and financial regulations. It's particularly useful for businesses seeking short-term financing, documenting inter-company loans, or structuring payment obligations. The document must be properly stamped according to Indonesian stamp duty laws and can be either notarized or privately executed, depending on the parties' requirements and the transaction value.

1. Parties: Identification of the Lender (Payee) and Borrower (Maker) with complete legal names and addresses

2. Background: Brief context of the loan arrangement and purpose

3. Definitions: Key terms used in the agreement including 'Principal Sum', 'Interest Rate', 'Maturity Date', and 'Event of Default'

4. Promise to Pay: Clear statement of the promise to pay, including the principal amount and currency

5. Interest Rate: Specification of the interest rate, calculation method, and payment frequency

6. Payment Terms: Details of payment schedule, method of payment, and maturity date

7. Prepayment: Terms and conditions for early payment of the note

8. Events of Default: Circumstances that constitute default and consequences thereof

9. Remedies: Rights and remedies available to the lender in case of default

10. Governing Law: Specification of Indonesian law as the governing law

11. Execution: Signature blocks with proper stamp duty requirements under Indonesian law