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Promissory Note Deed

Promissory Note Deed Template for Indonesia

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Key Requirements PROMPT example:

Promissory Note Deed

"I need a Promissory Note Deed under Indonesian law for a secured business loan of IDR 500 million from PT Investama Capital to my manufacturing company, with 12% annual interest and company equipment as collateral."

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Document background
The Promissory Note Deed is a crucial legal instrument in Indonesian business and financial transactions, commonly used to formalize and document debt obligations. This type of deed combines the characteristics of a promissory note with the formal requirements of an Indonesian notarial deed, providing enhanced legal protection and enforcement options for the creditor. It is particularly useful in situations requiring documented proof of debt, such as business loans, property transactions, or commercial arrangements. The document must comply with Indonesian notarial law requirements, including proper execution before a notary public, and contains essential elements such as the parties' details, principal amount, interest rate, payment terms, and any security arrangements. The notarial format provides stronger evidentiary value in Indonesian courts compared to private documents, making it a preferred choice for significant financial transactions.
Suggested Sections

1. Deed Title and Number: Official notarial deed number, date, and title of the document

2. Parties: Full legal names and details of the maker (promisor) and payee (promisee), including their legal capacity

3. Background: Brief context of the debt obligation and relationship between parties

4. Definitions: Key terms used throughout the document

5. Promise to Pay: Unconditional promise to pay a specific sum of money

6. Principal Amount: Clear statement of the principal amount in both numbers and words

7. Payment Terms: Due date, payment method, and payment location

8. Interest Rate: Applicable interest rate and calculation method

9. Events of Default: Circumstances constituting default and consequences

10. Governing Law: Confirmation of Indonesian law as governing law

11. Execution: Formal execution clause meeting notarial requirements

Optional Sections

1. Security/Collateral: Details of any assets provided as security for the promise to pay, used when the note is secured

2. Guarantor Provisions: Terms relating to any guarantors of the payment, included when there are third-party guarantors

3. Acceleration Clause: Conditions under which the entire amount becomes immediately due, included for higher-risk transactions

4. Prepayment Terms: Conditions and calculations for early payment, included if prepayment is allowed

5. Late Payment Penalties: Additional charges or interest for late payments, included when specific penalties are desired

6. Assignment Rights: Terms regarding the right to assign the note, included when transferability is important

Suggested Schedules

1. Payment Schedule: Detailed breakdown of installment payments if not a single payment

2. Collateral Description: Detailed description of any security or collateral provided

3. Interest Calculation Examples: Examples showing how interest is calculated in various scenarios

4. Required Notices: Format and content requirements for various notices under the note

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Banking and Financial Services

Real Estate

Commercial Trading

Manufacturing

Construction

Agriculture

Mining

Retail

Technology

Professional Services

Small and Medium Enterprises

Relevant Teams

Legal

Finance

Treasury

Credit and Risk

Compliance

Corporate Secretariat

Business Development

Account Management

Commercial Operations

Documentation

Relevant Roles

Chief Financial Officer

Finance Director

Legal Counsel

Corporate Secretary

Credit Manager

Risk Manager

Treasury Manager

Business Development Manager

Account Manager

Compliance Officer

Financial Controller

Legal Manager

Notary Public

Loan Officer

Contract Administrator

Industries
Indonesian Civil Code (Kitab Undang-Undang Hukum Perdata - KUHPerdata): Provides the fundamental legal framework for contracts and agreements, including provisions on legal capacity, consent, and contractual obligations
Indonesian Commercial Code (Kitab Undang-Undang Hukum Dagang - KUHD): Contains specific regulations on commercial papers including promissory notes, their requirements, and legal effects
Law No. 2 of 2014 on Notary Position: Regulates the authority and procedures for notaries in creating authentic deeds, including promissory note deeds
Law No. 7 of 2011 on Currency: Governs the use of currency in financial instruments and obligations within Indonesia
Law No. 10 of 2020 on Stamp Duty: Stipulates the requirement and amount of stamp duty necessary for legal documents including promissory notes
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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