Car Sale Agreement With Payments Template for Indonesia

The Car Sale Agreement With Payments is essential for transactions involving vehicle sales with installment payments in Indonesia. This document is typically used when a seller (either a dealership or private party) agrees to sell a vehicle to a buyer who will make payments over time rather than paying the full amount upfront. The agreement must comply with Indonesian law, including the Civil Code (KUHPerdata), Law No. 8 of 1999 on Consumer Protection, and relevant financial services regulations. It includes crucial details such as vehicle specifications, payment terms, ownership transfer conditions, and default remedies. The document is particularly important in the Indonesian market where installment purchases are common and require careful documentation to protect all parties' interests while ensuring regulatory compliance.

1. Parties: Identification of the Seller and Buyer with complete legal names, addresses, and identification numbers

2. Background: Context of the sale, establishing the Seller's ownership and right to sell, and Buyer's intention to purchase

3. Definitions: Definitions of key terms used throughout the agreement

4. Vehicle Details: Comprehensive description of the vehicle including make, model, year, color, engine number, chassis number, and registration details

5. Purchase Price and Payment Terms: Total purchase price, payment schedule, installment amounts, and payment methods

6. Delivery and Transfer of Ownership: Terms and conditions for vehicle delivery and transfer of ownership documentation

7. Seller's Representations and Warranties: Seller's guarantees regarding vehicle condition, ownership, and absence of encumbrances

8. Buyer's Obligations: Buyer's responsibilities including payments, insurance, and maintenance during the payment period

9. Default and Remedies: Consequences of payment default and available remedies for both parties

10. Risk and Insurance: Transfer of risk and mandatory insurance requirements

11. Governing Law and Dispute Resolution: Application of Indonesian law and method of resolving disputes

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

13. Execution: Signature blocks and execution requirements