Deposit Release Form Template for Indonesia

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Key Requirements PROMPT example:

Deposit Release Form

"I need a Deposit Release Form for releasing a 12-month term deposit of IDR 500,000,000 from Bank Mandiri, scheduled for maturity on March 15, 2025, with the funds to be transferred to my existing savings account."

Document background

The Deposit Release Form is a crucial document in Indonesian banking operations, designed to facilitate the formal release of funds held in deposit at financial institutions. This document is utilized when account holders need to withdraw deposits, particularly for term deposits, special-purpose deposits, or large sum withdrawals that require formal documentation. The form, compliant with Indonesian banking laws and the Civil Code (KUHPerdata), includes comprehensive details about the deposit holder, the financial institution, the deposit amount, and release instructions. It serves as both a release authorization and a receipt, providing legal protection for all parties involved in the transaction. The document is particularly important for maintaining clear audit trails and ensuring compliance with Bank Indonesia's regulations regarding deposit transactions.

Suggested Sections

1. Header Information: Document title, date, and reference number

2. Parties: Details of the deposit holder (releaser) and the financial institution

3. Deposit Details: Specific information about the deposit including account number, type of deposit, and amount

4. Release Declaration: Clear statement of deposit release authorization and acknowledgment of receipt

5. Release Amount: Specification of the amount being released and any applicable charges or deductions

6. Settlement Method: Details of how the released funds will be disbursed (cash, bank transfer, etc.)

7. Representations: Depositor's confirmation that they are authorized to release the funds and have legal capacity

8. Release Date: Effective date of the release

9. Signatures: Space for signatures of all relevant parties and witnesses

Optional Sections

1. Third Party Authorization: Required when someone other than the account holder is authorized to receive the funds

2. Partial Release Terms: Needed when only a portion of the deposit is being released

3. Special Instructions: Any specific handling instructions or conditions for the release

4. Tax Declarations: Required when the release has tax implications that need to be acknowledged

5. Foreign Currency Declaration: Needed when the deposit is in foreign currency and subject to exchange control regulations

6. Early Release Acknowledgment: Required when releasing time deposits before maturity

Suggested Schedules

1. Identification Documents: Copies of valid ID cards or passports of the releasing party

2. Original Deposit Certificate: Copy of the original deposit certificate or receipt being released

3. Authorization Documents: Any power of attorney or corporate authorization documents if applicable

4. Bank Statement: Recent bank statement showing the deposit amount

5. Release Calculation: Detailed calculation of release amount including any penalties or charges

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

alex.den.21@genieai.co

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Bank Branch Manager

Financial Services Officer

Compliance Officer

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Account Manager

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Banking Operations Supervisor

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Find the exact document you need

Deposit Receipt Form

An Indonesian-compliant banking document that serves as official proof of deposit, containing transaction details and regulatory compliance elements.

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Authors

Alex Denne

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