Holding Deposit Agreement Template for Indonesia

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Key Requirements PROMPT example:

Holding Deposit Agreement

"I need a Holding Deposit Agreement for a commercial warehouse property in Jakarta, Indonesia, with a 3-month holding period and specific provisions for environmental due diligence, as the property was previously used for industrial purposes."

Document background

The Holding Deposit Agreement is a crucial document in Indonesian property transactions, used when a potential buyer wishes to secure a property while completing due diligence or arranging financing. This agreement type is particularly important in Indonesia's dynamic property market, where competitive buying conditions often necessitate securing properties during the negotiation phase. The document specifies the deposit amount (typically 2-5% of the purchase price), the duration for which the property will be held off the market, and the conditions under which the deposit may be returned or forfeited. It must comply with Indonesian Civil Code requirements and property regulations, making it essential for both residential and commercial property transactions. The agreement provides security for sellers while giving buyers time to arrange their affairs, serving as a preliminary step before the final purchase agreement.

Suggested Sections

1. Parties: Identification of the property owner/seller and the potential buyer/depositor, including full legal names and addresses

2. Background: Context of the agreement, including brief description of the property and purpose of the holding deposit

3. Definitions: Key terms used throughout the agreement, including 'Property', 'Deposit', 'Completion Date', and 'Purchase Price'

4. Deposit Terms: Amount of deposit, payment method, and confirmation of receipt

5. Duration of Hold: Period for which the property will be held off the market

6. Property Details: Full legal description and address of the property being held

7. Conditions for Purchase: Terms under which the holding deposit will be converted to a purchase deposit

8. Return of Deposit: Circumstances under which the deposit will be returned to the potential buyer

9. Forfeiture of Deposit: Conditions under which the deposit may be forfeited to the seller

10. Governing Law: Confirmation that the agreement is governed by Indonesian law

11. Execution: Signature blocks and execution requirements

Optional Sections

1. Property Access: Terms for viewing or inspecting the property during the hold period

2. Due Diligence: Include when the buyer requires a period for property investigation or document review

3. Tax Considerations: Include when there are specific tax implications that need to be addressed

4. Agent Details: Include when a real estate agent is involved in the transaction

5. Dispute Resolution: Optional detailed dispute resolution procedure, including mediation or arbitration provisions

6. Force Majeure: Include when additional protection is needed for unforeseen circumstances

7. Assignment: Include when either party may need to transfer their rights under the agreement

Suggested Schedules

1. Property Description Schedule: Detailed description of the property, including any fixtures and fittings included

2. Payment Schedule: Details of deposit payment and banking information

3. Due Diligence Requirements: List of documents and information to be provided during the hold period

4. Property Condition Report: Current condition of the property at the time of the holding deposit

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

Real Estate

Property Development

Commercial Property

Residential Property

Retail

Industrial

Hospitality

Office Space

Mixed-Use Development

Agricultural Land

Relevant Teams

Legal

Real Estate

Sales

Business Development

Compliance

Property Management

Acquisitions

Investment

Contract Administration

Risk Management

Relevant Roles

Real Estate Agent

Property Manager

Legal Counsel

Property Developer

Sales Manager

Transaction Coordinator

Business Development Manager

Asset Manager

Investment Manager

Compliance Officer

Contract Administrator

Property Consultant

Acquisitions Manager

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Let's create your Holding Deposit Agreement

Authors

Alex Denne

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