Agreement For Sale And Purchase With Plan Template for Indonesia

The Agreement For Sale And Purchase With Plan is a crucial document in Indonesian property development transactions, used when a buyer purchases property that is either yet to be constructed or is under construction. This agreement type is particularly relevant in Indonesia's growing property market, where pre-sale of properties is common practice. The document must comply with various Indonesian regulations, including the Civil Code (KUHPerdata), Law No. 1 of 2011 on Housing and Settlement Areas, and consumer protection laws. It typically includes detailed specifications of the planned property, construction timelines, payment schedules, quality standards, and handover procedures. The agreement protects both developer and buyer interests by clearly defining rights, obligations, and remedies, while ensuring compliance with local building regulations and spatial planning requirements. This document is essential for securing financing, obtaining necessary permits, and establishing clear expectations for property delivery.

1. Parties: Identification of the seller/developer and buyer with complete legal details

2. Background: Context of the agreement, including brief description of the development project and parties' intentions

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

4. Object of Sale and Purchase: Detailed description of the property, including lot number, building type, specifications, and location

5. Purchase Price: Total purchase price, payment schedule, and payment methods

6. Payment Terms: Detailed payment structure including deposit, installments, and final payment conditions

7. Construction and Development: Timeline for construction, development stages, and quality standards

8. Specifications and Standards: Detailed technical specifications of the building and materials to be used

9. Completion and Handover: Conditions for completion, inspection procedures, and property handover process

10. Rights and Obligations: Comprehensive list of rights and obligations of both parties

11. Warranties: Builder's warranties and quality guarantees

12. Default and Remedies: Consequences of default by either party and available remedies

13. Force Majeure: Provisions for unforeseen circumstances affecting construction or completion

14. Governing Law: Confirmation of Indonesian law as governing law and jurisdiction

15. Dispute Resolution: Procedures for resolving disputes between parties

16. Notices: Communication procedures and contact details for official notices

17. General Provisions: Standard boilerplate clauses including severability, entire agreement, and amendments