Document background
The Assignment Of Rights And Obligations Under A Contract is a crucial document used in Indonesian business transactions when a party wishes to transfer its contractual position to another entity. This document is commonly required in scenarios such as corporate restructuring, business acquisitions, project financing, or when a company needs to transfer its contractual rights and obligations to another entity. The assignment must comply with Indonesian law, particularly the Indonesian Civil Code (KUHPer) and related regulations. The document typically includes detailed provisions about the rights and obligations being transferred, any conditions precedent, necessary consents, and warranties about the underlying contract. It must be structured to ensure enforceability under Indonesian law and often requires bilingual execution to comply with Law No. 24 of 2009. The document is particularly important in regulated industries where specific approvals may be required for the assignment.
