Buyer Rep Agreement Template for Indonesia

The Buyer Representative Agreement is a crucial document used in Indonesian property transactions when a buyer wishes to formally engage a professional representative to act on their behalf in property matters. This agreement is particularly important in the Indonesian market where property transactions involve complex regulatory requirements and local market knowledge. The document establishes the scope of the representative's authority, outlines their duties in property search and acquisition, and sets clear parameters for compensation. It includes specific provisions required under Indonesian law, including compliance with foreign ownership restrictions where applicable, and incorporates necessary safeguards for both parties. The agreement is essential for both individual and corporate buyers, especially those unfamiliar with the Indonesian property market or those requiring professional assistance in property transactions.

1. Parties: Identification of the buyer and the representative, including complete legal names, addresses, and any relevant registration numbers

2. Background: Context of the agreement, including the buyer's intention to purchase property and appointment of representative

3. Definitions: Key terms used throughout the agreement, including specific Indonesian legal and real estate terminology

4. Appointment and Authority: Formal appointment of representative and scope of authority granted by the buyer

5. Representative's Duties and Obligations: Detailed responsibilities including property search, negotiations, and due diligence

6. Buyer's Obligations: Buyer's responsibilities including providing accurate information and cooperating with the representative

7. Compensation: Fee structure, payment terms, and conditions for earning commission

8. Term and Termination: Duration of the agreement and circumstances for early termination

9. Confidentiality: Protection of confidential information shared during the engagement

10. Liability and Indemnification: Extent of representative's liability and mutual indemnification provisions

11. Governing Law: Application of Indonesian law and jurisdiction

12. Notices: Method and addresses for formal communications between parties

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