The Amendment To Extend Term Of Agreement is a crucial document used when parties wish to continue their contractual relationship beyond the original termination date under Indonesian law. This type of amendment is commonly employed when the original agreement is approaching its expiration date, but the business relationship remains valuable to all parties. The document must be drafted in compliance with Indonesian Civil Code (KUH Perdata) requirements for contract modifications and Law No. 24 of 2009 regarding language requirements. It typically includes identification of the original agreement, clear specification of the new term period, and confirmation that other terms remain unchanged. This amendment type is particularly important in Indonesia's business environment, where maintaining legal continuity in long-term business relationships is essential for commercial stability.
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1. Parties: Identification of all parties to the original agreement, including their full legal names, addresses, and company registration details as required under Indonesian law
2. Background: References to the original agreement (including date, title, and parties), current expiration date, and statement of parties' intention to extend the term
3. Definitions: Key terms used in the amendment, including reference to definitions in the original agreement and any new definitions specific to the extension
4. Term Extension: Clear statement of the new term period, including specific start and end dates
5. Continued Effect: Confirmation that all other terms and conditions of the original agreement remain in full force and effect
6. Governing Law: Reaffirmation of Indonesian law as governing law
7. Execution: Signature blocks for all parties, including requirements for proper execution under Indonesian law
1. Additional Modifications: Used when minor modifications to other terms are needed alongside the term extension
2. Conditions Precedent: Include when the term extension is subject to certain conditions being met
3. Regulatory Compliance: Include when the extension requires specific regulatory approvals or notifications
4. Fee Adjustments: Include when the term extension involves changes to fees or payment terms
5. Performance Review: Include when the extension is tied to performance evaluation or specific deliverables
1. Schedule 1 - Original Agreement: Copy of the original agreement being amended
2. Schedule 2 - Previous Amendments: Copies of any previous amendments to the original agreement
3. Schedule 3 - Updated Timeline: If applicable, revised project timeline or milestone schedule reflecting the extended term
4. Schedule 4 - Regulatory Approvals: If applicable, copies of any required regulatory approvals for the extension
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