Addendum To Sales Contract Extension Of Closing Template for Indonesia

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Key Requirements PROMPT example:

Addendum To Sales Contract Extension Of Closing

"I need an Addendum to Sales Contract Extension of Closing for a manufacturing equipment sale in Indonesia, extending the closing date from March 15, 2025, to June 15, 2025, due to pending regulatory approvals from the Ministry of Industry."

Document background
The Addendum To Sales Contract Extension Of Closing is a crucial document used in Indonesian commercial transactions when parties need to modify the closing date of an existing sales agreement. This document becomes necessary when circumstances require additional time to complete a transaction, such as pending regulatory approvals, ongoing due diligence, or financing arrangements. It's particularly relevant in high-value transactions across various sectors where complex closing conditions exist. The addendum must comply with Indonesian civil law requirements, specifically Articles 1313-1351 of the Indonesian Civil Code (KUHPerdata) governing contract modifications. This document ensures legal continuity of the original agreement while providing a formal framework for the timeline extension, including any additional conditions or considerations required for the extended period.
Suggested Sections

1. Parties: Identification of all parties to the original sales contract, maintaining the same names and designations as in the original agreement

2. Background: Reference to the original sales contract including its date, purpose, and any previous amendments, followed by the reason for this extension

3. Definitions: Key terms used in the addendum, incorporating relevant definitions from the original contract and any new terms specific to the extension

4. Extension of Closing Date: Clear statement of the new closing date and any conditions attached to this extension

5. Consideration: Statement of any consideration paid for the extension, if applicable

6. Effect on Original Agreement: Confirmation that all other terms and conditions of the original contract remain unchanged

7. Governing Law: Reaffirmation of Indonesian law as the governing law of the contract and addendum

8. Execution: Signature blocks for all parties and any required witnesses

Optional Sections

1. Additional Conditions: Any new conditions specific to the extension period, used when the extension requires certain milestones or obligations to be met

2. Extension Fee: Details of any fees payable for the extension, included when there is a monetary consideration for the extension

3. Force Majeure: Additional force majeure provisions specific to the extension period, included when the extension is related to force majeure events

4. Representations and Warranties: Additional representations specific to the extension, included when parties need to confirm certain facts or conditions as of the extension date

5. Notice Provisions: Modified notice requirements during the extension period, included when communication requirements change

Suggested Schedules

1. Schedule A - Original Agreement: Copy of the original sales contract being amended

2. Schedule B - Timeline: Updated timeline showing the new closing date and any intermediate milestones

3. Schedule C - Extension Payment Schedule: If applicable, schedule of any payments related to the extension

4. Appendix 1 - Corporate Approvals: Copies of any corporate approvals required for the extension

5. Appendix 2 - Supporting Documents: Any additional documents supporting the need for or terms of the extension

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant Industries

Real Estate & Property Development

Manufacturing

Mining & Resources

Agriculture & Plantations

Infrastructure & Construction

Technology & Software

Industrial Equipment

Commercial Property

Retail & Consumer Goods

Energy & Utilities

Relevant Teams

Legal

Commercial

Sales

Compliance

Corporate Secretarial

Risk Management

Business Development

Finance

Operations

Project Management

Relevant Roles

Legal Counsel

Contract Manager

Chief Legal Officer

Commercial Director

Business Development Manager

Company Secretary

Compliance Officer

Sales Director

Chief Financial Officer

Project Manager

Transaction Manager

Corporate Lawyer

General Counsel

Risk Manager

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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