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Amendment To Extend Term Of Agreement

Amendment To Extend Term Of Agreement Template for Indonesia

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Key Requirements PROMPT example:

Amendment To Extend Term Of Agreement

"I need an Amendment to Extend Term of Agreement for a manufacturing supply contract with PT Indo Manufacturing, extending the current agreement by 24 months from its current expiration date of March 1, 2025, with the addition of a performance review clause."

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Document background
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.
Suggested Sections

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

Optional Sections

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

Suggested Schedules

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

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

Manufacturing

Technology

Telecommunications

Mining and Resources

Oil and Gas

Financial Services

Real Estate

Construction

Healthcare

Retail

Agriculture

Transportation and Logistics

Education

Professional Services

Relevant Teams

Legal

Commercial

Business Development

Procurement

Operations

Compliance

Contract Administration

Risk Management

Corporate Secretariat

Project Management

Relevant Roles

Legal Counsel

Contract Manager

Business Development Manager

Commercial Director

Chief Legal Officer

Compliance Officer

Project Manager

Procurement Manager

Operations Director

General Manager

Chief Executive Officer

Account Manager

Partnership Manager

Risk Manager

Industries
Indonesian Civil Code (KUH Perdata): The primary source of contract law in Indonesia, particularly Book III on Obligations. Articles 1313-1351 define contracts and their validity requirements. Articles 1381-1456 govern contract amendments and modifications.
Law No. 12 of 2011: Establishes the hierarchy of laws and regulations in Indonesia, which affects how contracts are interpreted and enforced in relation to existing laws.
Law No. 30 of 1999: Law on Arbitration and Alternative Dispute Resolution, relevant for including dispute resolution mechanisms in contract amendments.
Law No. 24 of 2009: Requires contracts involving Indonesian parties to be drafted in Indonesian language. Relevant for ensuring the amendment complies with language requirements.
Presidential Regulation No. 33 of 2012: Regulates the use of Indonesian language in official documents, including business contracts and amendments.
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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