Boat Purchase Agreement Template for Indonesia

The Boat Purchase Agreement is a crucial legal document used in Indonesia for transferring ownership of marine vessels from seller to buyer. It is essential for both private and commercial vessel transactions, ensuring compliance with Indonesian maritime laws, particularly Law No. 17 of 2008 on Shipping and related regulations. This agreement should be used whenever a boat or vessel is being sold in Indonesian waters or under Indonesian jurisdiction, regardless of whether the parties are individuals or companies. The document includes comprehensive details about the vessel, payment terms, warranties, and conditions of sale, while ensuring compliance with local registration requirements and maritime safety standards. It's particularly important given Indonesia's specific requirements for vessel ownership, registration, and operation within its archipelagic waters.

1. Parties: Identification of the seller and buyer, including full legal names, addresses, and registration details if companies

2. Background: Context of the transaction and brief description of the vessel being sold

3. Definitions: Key terms used throughout the agreement including 'Vessel', 'Purchase Price', 'Closing Date', etc.

4. Sale and Purchase: Core agreement to sell and purchase the vessel, including the purchase price and payment terms

5. Vessel Details: Comprehensive description of the boat including make, model, year, registration number, and specifications

6. Payment Terms: Detailed breakdown of payment structure, including deposit, installments if any, and final payment

7. Conditions Precedent: Conditions that must be met before the sale can complete, including surveys and documentation

8. Closing and Delivery: Process for completing the sale, transfer of ownership, and physical handover of the vessel

9. Seller's Representations and Warranties: Seller's guarantees about the vessel's condition, ownership, and legal status

10. Buyer's Representations and Warranties: Buyer's confirmations regarding authority to purchase and financial capacity

11. Risk and Insurance: Transfer of risk and insurance requirements during the sale process

12. Governing Law and Jurisdiction: Specification of Indonesian law as governing law and jurisdiction for disputes

13. Notices: How formal communications between parties should be made and delivered

14. General Provisions: Standard boilerplate clauses including entire agreement, amendments, and severability