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Amendment To Joint Venture Agreement

Amendment To Joint Venture Agreement Template for Indonesia

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Key Requirements PROMPT example:

Amendment To Joint Venture Agreement

"I need an Amendment to Joint Venture Agreement for our Indonesian manufacturing JV to modify the shareholding structure, increasing our foreign ownership from 49% to 67% following recent regulatory changes, with the amendment to take effect from March 1, 2025."

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Document background
The Amendment To Joint Venture Agreement is a crucial document used when existing joint venture partners in Indonesia need to modify their original agreement due to changing business circumstances, regulatory requirements, or strategic objectives. This document type is particularly important in the Indonesian business context, where foreign investment regulations and corporate law requirements frequently evolve. It must be drafted in compliance with Indonesian law, particularly the Investment Law (Law No. 25 of 2007) and Company Law (Law No. 40 of 2007). The amendment typically addresses changes in shareholding percentages, capital structure, management arrangements, business scope, or other material terms while ensuring continued compliance with foreign ownership restrictions and local corporate governance requirements. It often requires various regulatory approvals, particularly from the Investment Coordinating Board (BKPM) for foreign investment-related changes.
Suggested Sections

1. Parties: Identification of all parties to the amendment, including their complete legal names, registration numbers, and addresses

2. Background: Recitals explaining the existence of the original JV agreement, reason for amendment, and brief context of the changes

3. Definitions: Key terms used in the amendment, including reference to definitions in the original agreement and any new terms introduced

4. Reference to Original Agreement: Specific details of the original JV agreement being amended, including date, parties, and any previous amendments

5. Amendments: Detailed specifications of each amendment to the original agreement, clearly referencing the sections being modified

6. Effect of Amendments: Clarification that all other provisions of the original agreement remain in full force and effect

7. Effective Date: Specification of when the amendments take effect

8. Integration: Statement that this amendment forms part of the original agreement

9. Governing Law: Confirmation of Indonesian law as governing law

10. Execution: Signature blocks for all parties, including corporate seals where required under Indonesian law

Optional Sections

1. Regulatory Approvals: Required when amendments need specific regulatory approvals, such as from BKPM for foreign investment changes

2. Capital Changes: Required when amendments involve changes to capital structure or shareholding

3. Board Composition: Required when amendments affect board structure or appointment rights

4. Business Scope: Required when amendments modify the scope of the joint venture's business activities

5. Language: Required for foreign parties to specify that the document is bilingual and which version prevails

6. Conditions Precedent: Required when amendments are subject to certain conditions being met before becoming effective

Suggested Schedules

1. Schedule of Amendments: Detailed table showing original clauses and their amended versions

2. Updated Shareholding Structure: If relevant, diagram or table showing new shareholding structure

3. Corporate Approvals: Copies of relevant board resolutions, shareholder approvals, or other corporate authorizations

4. Regulatory Approvals: Copies of any required regulatory approvals or licenses

5. Amended Business Plan: If applicable, updated business plan reflecting the changes

6. Power of Attorney: If applicable, authorizations for signing the amendment

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 legal definitions
Amendment
Original Agreement
Effective Date
Parties
JV Company
Board of Directors
Board of Commissioners
BKPM
Business License
Articles of Association
Deed of Amendment
Foreign Investment
Indonesian Party
Foreign Party
Joint Venture
Modified Provisions
Regulatory Approvals
Shareholders
Amended Business Plan
Capital Contribution
Shares
Transfer of Shares
Material Change
Permitted Business Activities
Investment Registration Number
NIB
MOLHR
Governing Law
Business Day
Original Definitions
Previous Amendments
Amended Shareholding Ratio
Indonesian Language Version
English Language Version
Corporate Approvals
Government Authority
Implementation Date
Transition Period
Surviving Provisions
Amended Terms
Clauses
Parties
Recitals
Definitions
Amendment Scope
Shareholding Structure
Capital Contribution
Board Composition
Management Rights
Voting Rights
Transfer Restrictions
Business Scope
Regulatory Compliance
Corporate Governance
Dividend Policy
Reserved Matters
Representations and Warranties
Language Requirements
Governing Law
Dispute Resolution
Effectiveness
Integration
Further Assurance
Regulatory Approvals
Notices
Costs and Expenses
Counterparts
Entire Agreement
Severability
Survival of Original Terms
Execution
Relevant Industries

Manufacturing

Technology

Mining and Resources

Infrastructure

Real Estate

Financial Services

Telecommunications

Agriculture

Retail and Consumer Goods

Healthcare

Education

Energy and Power

Transportation and Logistics

Relevant Teams

Legal

Corporate Development

Finance

Compliance

Strategy

Commercial

Business Development

Board of Directors

Executive Management

Corporate Secretariat

Investment

Relevant Roles

Chief Executive Officer

Managing Director

Chief Legal Officer

General Counsel

Legal Director

Corporate Secretary

Chief Financial Officer

Head of Corporate Development

Investment Director

Joint Venture Manager

Business Development Director

Compliance Officer

Board Director

Commercial Director

Strategy Director

Industries
Indonesian Civil Code (Kitab Undang-undang Hukum Perdata): Governs contractual relationships and provides the basic framework for contract formation, modification, and termination. Particularly relevant for amendments to existing agreements.
Law No. 25 of 2007 on Investment (Investment Law): Regulates foreign and domestic investment in Indonesia, including joint venture arrangements and foreign ownership restrictions.
Law No. 40 of 2007 on Limited Liability Companies: Governs the establishment and operation of companies in Indonesia, including joint venture companies (PT PMA).
Presidential Regulation No. 10 of 2021 on Investment Business Fields: Specifies business sectors open to foreign investment and maximum foreign ownership percentages for different business activities.
Law No. 24 of 2009 on National Flag, Language, Emblem and Anthem: Requires agreements involving Indonesian parties to be drafted in Indonesian language (bilingual versions are permitted).
BKPM Regulation No. 4 of 2021: Provides guidelines for investment implementation and licensing procedures, including changes in joint venture arrangements.
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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