The Vendor Release Form is a critical legal document used in Indonesian business contexts when companies need to formally conclude their relationship with a vendor or supplier. This document becomes necessary when a vendor engagement is being terminated, a project is completed, or there's a need to settle and release any claims between parties. The form, governed by Indonesian law including the Civil Code (Kitab Undang-undang Hukum Perdata), typically includes provisions for final payments, transfer or return of materials, confidentiality obligations, and mutual releases from future claims. It must comply with Indonesian legal requirements, including potential dual-language provisions, and should be properly executed with necessary corporate authorizations to ensure enforceability. The document serves as crucial evidence of proper business relationship conclusion and protection against future disputes.
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1. Parties: Identification of the vendor and the company, including full legal names, registration numbers, and addresses
2. Background: Brief context of the vendor relationship and purpose of the release
3. Definitions: Definitions of key terms used in the release form
4. Scope of Release: Clear description of what claims, rights, or obligations are being released
5. Consideration: Statement of consideration being provided in exchange for the release
6. Release Terms: Detailed terms of the release, including what specific claims or rights are being waived
7. Representations and Warranties: Vendor's confirmations regarding their authority to grant the release and understanding of its implications
8. Governing Law: Specification that Indonesian law governs the agreement
9. Execution: Signature blocks and execution requirements
1. Confidentiality: Additional provisions regarding confidentiality obligations, used when sensitive information was exchanged during the vendor relationship
2. Intellectual Property: Specific provisions about IP rights transfer or retention, used when the vendor relationship involved creation or use of intellectual property
3. Future Cooperation: Terms regarding potential future business relationships, used when parties want to maintain the possibility of future engagement
4. Dispute Resolution: Specific dispute resolution procedures, used when parties want to specify particular methods for resolving any future disputes
5. Tax Provisions: Specific tax-related terms and obligations, used when the release involves significant financial considerations
6. Language Requirements: Provisions regarding dual-language requirements and prevailing language, used when the form needs to be in both Indonesian and English
1. Schedule A - Details of Prior Agreement(s): List and details of all agreements being released or terminated
2. Schedule B - Payment Details: Details of any final payments or financial settlements associated with the release
3. Schedule C - Delivered Items: Inventory of any materials, documents, or items to be returned or transferred
4. Appendix 1 - Supporting Documents: Copies of relevant certificates, licenses, or other supporting documentation
5. Appendix 2 - Corporate Authorizations: Copies of corporate approvals or authorizations required for the release
Relevant legal definitions
Clauses
Relevant Industries
Manufacturing
Technology
Retail
Construction
Professional Services
Healthcare
Financial Services
Transportation & Logistics
Energy
Telecommunications
Agriculture
Mining
Education
Hospitality
Real Estate
Relevant Teams
Legal
Procurement
Finance
Operations
Supply Chain
Risk & Compliance
Commercial
Administration
Project Management
Vendor Management
Relevant Roles
Procurement Manager
Legal Counsel
Contract Manager
Supply Chain Director
Vendor Relations Manager
Chief Financial Officer
Operations Manager
Project Manager
Risk Manager
Compliance Officer
Commercial Director
General Counsel
Finance Manager
Business Unit Head
Administrative Director
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