Document background
The Personal Loan Promissory Note is a crucial document in Indonesian lending practices, used to formalize personal loan arrangements between parties. This document type is commonly utilized in situations where individuals or institutions provide personal loans and need a legally enforceable written commitment for repayment. The document must comply with Indonesian Civil Code requirements and relevant banking regulations, particularly when the loan amount exceeds certain thresholds requiring notarization. It serves as evidence of debt and includes specific details about the loan amount, interest rates, payment terms, and consequences of default. The Personal Loan Promissory Note is especially important in the Indonesian context where formal documentation of financial obligations is essential for legal protection and potential enforcement.
