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Agreement Letter For Down Payment

Agreement Letter For Down Payment Template for Indonesia

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Agreement Letter For Down Payment

"I need an Agreement Letter For Down Payment for a manufacturing equipment purchase, where my company will pay 30% down payment (IDR 500,000,000) to the supplier by March 15, 2025, with the remaining balance due upon delivery."

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The Agreement Letter For Down Payment is a crucial document in Indonesian business transactions where advance payments are required to secure goods, services, or contractual commitments. This document is commonly used across various sectors including real estate, manufacturing, and trade, providing legal protection for both the paying and receiving parties. It must comply with Indonesian Civil Code (KUHPerdata) requirements and relevant commercial regulations, particularly regarding payment terms and contractual obligations. The letter typically specifies the down payment amount, payment schedule, purpose of the payment, and its relationship to the main transaction. It serves as both a receipt and a formal agreement, protecting parties' interests in case of disputes or transaction cancellations.
Suggested Sections

1. Letter Header: Date, reference number, and formal addressing of the recipient

2. Parties Information: Complete details of both parties including legal names, addresses, and any registration numbers

3. Subject Line: Clear indication that this is a Down Payment Agreement Letter

4. Transaction Reference: Details of the main transaction or contract this down payment relates to

5. Down Payment Terms: Specific amount, payment method, and deadline for the down payment

6. Purpose Statement: Clear statement of what the down payment is for and how it will be applied to the total payment

7. Main Transaction Terms: Brief overview of the main transaction's key terms and total value

8. Signature Block: Space for signatures, names, and titles of authorized representatives from both parties

Optional Sections

1. Payment Instructions: Include when specific banking or payment details need to be documented

2. Cancellation Terms: Add when there needs to be specific provisions about refund or forfeiture of the down payment

3. Witness Section: Include when additional verification of the agreement is required

4. Special Conditions: Add when there are unique terms or conditions specific to this down payment

5. Timeline of Subsequent Payments: Include when the down payment is part of a structured payment schedule

Suggested Schedules

1. Payment Schedule: Detailed breakdown of payment terms and dates if multiple payments are involved

2. Bank Details Appendix: Separate sheet with complete banking information for the payment

3. Main Contract Reference: Copy or summary of the main contract or transaction documents being referenced

4. Required Identification Documents: Copies of relevant ID cards, company registration, or other required documentation

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Real Estate

Manufacturing

Construction

Retail

Wholesale Trade

Import/Export

Professional Services

Technology

Automotive

Industrial Equipment

Consumer Goods

Furniture and Fixtures

Electronics

Agricultural Products

Textiles

Relevant Teams

Legal

Finance

Procurement

Sales

Commercial

Operations

Business Development

Accounts

Administration

Contracts Management

Relevant Roles

Procurement Manager

Sales Manager

Contract Administrator

Legal Counsel

Finance Manager

Business Development Manager

Project Manager

Commercial Director

Operations Manager

Account Executive

Chief Financial Officer

Purchase Officer

Sales Director

General Manager

Company Secretary

Industries
Indonesian Civil Code (KUHPerdata) - Book III on Contracts: Fundamental law governing contracts in Indonesia, including formation, validity requirements, and enforcement of contractual obligations
Law No. 8 of 1999 on Consumer Protection: Regulations protecting consumer rights in transactions, including provisions about advance payments and consumer guarantees
Law No. 7 of 2011 on Currency: Regulations regarding the use of Indonesian Rupiah in domestic transactions and payment requirements
Government Regulation No. 58 of 2001: Implementation guidelines for consumer protection, including requirements for clear documentation of payment terms
Law No. 11 of 2008 on Electronic Information and Transactions: Relevant if the down payment agreement involves electronic transactions or digital documentation
Minister of Trade Regulation No. 51/M-DAG/PER/7/2015: Regulations regarding advance payment systems in trade transactions
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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