Forward Sale Contract Template for Indonesia

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Key Requirements PROMPT example:

Forward Sale Contract

"I need a Forward Sale Contract under Indonesian law for monthly palm oil deliveries throughout 2025, with a minimum quantity of 1000 metric tons per delivery and including quality certification requirements from RSPO (Roundtable on Sustainable Palm Oil)."

Document background

The Forward Sale Contract is a crucial commercial instrument in Indonesian business practice, particularly utilized in sectors involving commodity trading, manufacturing, and international trade. This document type is essential when parties wish to secure future supply and price certainty, typically involving delivery schedules spanning several months to a year ahead. The contract must comply with Indonesian Civil Code (KUHPerdata) requirements for valid contracts and incorporate specific provisions required by Indonesian commercial regulations. Forward Sale Contracts are commonly used when businesses need to manage supply chain risks, secure pricing, and establish clear delivery commitments. The document includes detailed provisions on quality specifications, delivery terms, price mechanisms, and risk allocation, all structured to provide certainty while remaining enforceable under Indonesian law.

Suggested Sections

1. Parties: Identification and details of the seller and buyer, including their legal status and authority to enter into the contract

2. Background: Context of the transaction and relationship between the parties

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

4. Subject Matter of Sale: Detailed description of the goods/commodities being sold forward

5. Price and Payment Terms: Forward price, payment schedule, and payment mechanisms

6. Delivery Terms: Delivery schedule, location, and conditions for delivery

7. Quality Specifications: Required quality standards and specifications of the goods

8. Title and Risk: Transfer of ownership and risk allocation between parties

9. Representations and Warranties: Standard representations and specific warranties regarding the goods

10. Events of Default: Circumstances constituting default and consequences

11. Force Majeure: Definition of force majeure events and their consequences

12. Dispute Resolution: Mechanism for resolving disputes, including jurisdiction and governing law

13. Notices: Communication procedures between parties

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

Optional Sections

1. Insurance: Required when specific insurance coverage is needed for the goods during transit or storage

2. Performance Security: Include when additional security (bank guarantee, performance bond) is required

3. Inspection Rights: When buyer requires specific rights to inspect goods before or during delivery

4. Confidentiality: When transaction involves sensitive commercial information

5. Anti-corruption Compliance: When required by company policy or regulatory requirements

6. Export/Import Compliance: When transaction involves international trade

7. Sustainability Requirements: When environmental or sustainability standards need to be met

8. Price Adjustment Mechanism: When price might need adjustment based on market conditions or indices

Suggested Schedules

1. Product Specifications: Detailed technical specifications of the goods

2. Delivery Schedule: Detailed timeline of deliveries including quantities and locations

3. Price Calculation Formula: Detailed pricing mechanism and calculations if complex

4. Quality Testing Procedures: Specific procedures for quality assessment

5. Key Personnel: Contact details of key personnel responsible for contract execution

6. Required Certificates: List of required certificates and compliance documents

7. Storage Requirements: Specific requirements for storage if applicable

8. Standard Operating Procedures: Procedures for ordering, delivery, and acceptance

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

Relevant legal definitions

Clauses

Relevant Industries

Agriculture

Mining

Manufacturing

Commodities Trading

Energy

Chemical Industry

Textile Industry

Food and Beverage

Palm Oil Industry

Metal and Minerals

International Trade

Wholesale Distribution

Relevant Teams

Legal

Procurement

Supply Chain

Finance

Risk Management

Operations

Commercial

Trading

Quality Assurance

Logistics

Business Development

Relevant Roles

Procurement Manager

Commercial Director

Supply Chain Manager

Legal Counsel

Contract Administrator

Trade Finance Manager

Risk Manager

Operations Director

Commodity Trader

Sales Director

Chief Financial Officer

Logistics Manager

Quality Assurance Manager

Business Development Manager

Find the exact document you need

Letter Of Intent Non Binding

A non-binding preliminary document under Indonesian law outlining parties' intentions for a potential business transaction or relationship.

How a Sales & Marketing Lead uses Genie AI to reduce contract drafting time by 95%

Let's create your Forward Sale Contract

Authors

Alex Denne

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