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Arbitration Settlement Agreement

Arbitration Settlement Agreement Template for Indonesia

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Key Requirements PROMPT example:

Arbitration Settlement Agreement

"I need an Arbitration Settlement Agreement under Indonesian law for resolving a manufacturing defect dispute between PT Sentosa Manufacturing and PT Global Industries, with a settlement amount of IDR 5 billion to be paid by March 15, 2025."

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Document background
The Arbitration Settlement Agreement is a crucial document used when parties involved in arbitration proceedings in Indonesia reach a mutual resolution before a final arbitral award is issued. This document type is specifically governed by Indonesian Law No. 30 of 1999 on Arbitration and Alternative Dispute Resolution, and must comply with Indonesian civil law requirements for settlement agreements. It typically follows successful negotiation between parties and documents the complete terms of settlement, including any financial arrangements, mutual releases, and specific actions required by each party. The agreement serves as a final and binding resolution to the dispute, carrying the same weight as an arbitral award under Indonesian law, and can be enforced through the Indonesian courts if necessary.
Suggested Sections

1. Parties: Identification of all parties to the settlement agreement, including their full legal names, addresses, and registration details

2. Background: Details of the original dispute, reference to the arbitration proceedings, and the parties' intention to settle

3. Definitions: Definitions of key terms used throughout the agreement, including references to the original arbitration proceedings

4. Settlement Terms: Detailed description of the agreed settlement terms, including any monetary compensation, actions to be taken, and timelines

5. Release and Waiver: Mutual release of claims and waiver of rights related to the disputed matter

6. Payment Terms: Specific details of any financial settlements, including amount, currency, payment method, and schedule

7. Confidentiality: Provisions regarding the confidentiality of the settlement terms and related information

8. Enforcement: Provisions for the enforcement of the settlement agreement, including reference to relevant Indonesian laws

9. Governing Law: Explicit statement that the agreement is governed by Indonesian law

10. Execution: Formal execution requirements, including signature blocks and witness requirements

Optional Sections

1. Non-Admission of Liability: Optional clause stating that the settlement does not constitute admission of liability by either party

2. Tax Implications: Section addressing the tax treatment of settlement payments when monetary compensation is involved

3. Third Party Rights: Section addressing the rights of any third parties affected by the settlement

4. Further Assurance: Commitment to execute additional documents or take further actions necessary to implement the settlement

5. Severability: Provision addressing the scenario where certain provisions are found to be invalid or unenforceable

6. Language: For international settlements, provision specifying the prevailing language version of the agreement

Suggested Schedules

1. Schedule 1 - Settlement Payment Details: Detailed breakdown of settlement amounts, payment schedules, and bank account information

2. Schedule 2 - Original Arbitration Details: Copy or summary of the original arbitration notice or key details from the arbitration proceedings

3. Schedule 3 - Actions and Deadlines: Detailed list of specific actions to be taken by each party with corresponding deadlines

4. Appendix A - Supporting Documents: Copies of relevant supporting documents referenced in the settlement agreement

5. Appendix B - Power of Attorney: If applicable, power of attorney documents authorizing representatives to sign the agreement

6. Appendix C - Corporate Authorizations: Required corporate authorizations or board resolutions approving the settlement

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

Construction

Energy and Natural Resources

Financial Services

Technology

Real Estate

Infrastructure

Telecommunications

Mining

International Trade

Shipping and Maritime

Professional Services

Relevant Teams

Legal

Compliance

Risk Management

Corporate Secretariat

Executive Leadership

Finance

Commercial

Corporate Affairs

Regulatory Affairs

Operations

Relevant Roles

Legal Director

General Counsel

Chief Legal Officer

Corporate Secretary

Compliance Officer

Risk Manager

Chief Executive Officer

Chief Financial Officer

Commercial Director

Contract Manager

Legal Manager

Arbitration Counsel

Dispute Resolution Specialist

Company Director

Board Member

Industries
Law No. 30 of 1999 on Arbitration and Alternative Dispute Resolution: The primary legislation governing arbitration in Indonesia, covering the rules and procedures for arbitration proceedings, enforcement of arbitration awards, and recognition of foreign arbitration awards
Indonesian Civil Code (Kitab Undang-undang Hukum Perdata): Provides the basic principles of contract law, including formation, validity, and enforcement of agreements, which form the foundation of any settlement agreement
New York Convention 1958: International convention on the Recognition and Enforcement of Foreign Arbitral Awards, which Indonesia has ratified, governing the enforcement of foreign arbitration awards
Supreme Court Regulation No. 1 of 1990: Provides guidance on the enforcement of foreign arbitration awards in Indonesia
Law No. 48 of 2009 on Judicial Power: Contains provisions regarding the role of courts in supporting arbitration processes and enforcement of arbitration awards
Presidential Decree No. 34 of 1981: Ratifies Indonesia's participation in the New York Convention and establishes its implementation in Indonesian law
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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