Release Of Personal Guaranty Template for Indonesia

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Key Requirements PROMPT example:

Release Of Personal Guaranty

"I need a Release of Personal Guaranty document for an Indonesian bank loan that has been fully repaid as of January 15, 2025, releasing Mr. Suharto as personal guarantor from his IDR 2 billion guarantee obligation to Bank Central Asia."

Document background

A Release Of Personal Guaranty is a crucial document in Indonesian business and financial transactions that formally terminates a guarantor's obligations under a personal guarantee agreement. This document is typically used when the original debt has been satisfied, the business relationship has concluded, or as part of a larger settlement arrangement. Under Indonesian law, particularly the Civil Code (KUHPerdata) and relevant banking regulations, the release must be explicit and properly documented to effectively discharge the guarantor's obligations. The document includes specific details about the original guarantee, the parties involved, and the scope of the release, ensuring legal certainty for all parties involved. It's commonly used in banking transactions, corporate lending, and business arrangements where personal guarantees are required as additional security.

Suggested Sections

1. Date and Place of Execution: The date and location where the release document is executed

2. Parties Identification: Full details of the creditor issuing the release and the guarantor being released, including their complete legal names, addresses, and any relevant registration numbers

3. Original Guarantee Reference: Details of the original personal guarantee being released, including date, parties involved, and any reference numbers

4. Principal Debt Reference: Reference to the main debt or obligation for which the guarantee was provided

5. Release Declaration: Clear and unambiguous statement releasing the guarantor from all obligations under the original guarantee

6. Effective Date: Specification of when the release takes effect

7. Governing Law Statement: Confirmation that the release is governed by Indonesian law

8. Signature Block: Space for authorized signature(s) of the creditor, with name and title

Optional Sections

1. Consideration Statement: Include when the release is being given in exchange for some consideration or as part of a settlement

2. Partial Release Provisions: Include when only certain obligations under the guarantee are being released while others remain in effect

3. Conditions Precedent: Include when the release is subject to certain conditions being met

4. Witness Section: Include when additional verification of execution is desired or required

5. Corporate Authorization: Include when the creditor is a corporation and needs to confirm proper authorization for the release

6. Bilingual Text: Include when document needs to be in both Indonesian and English languages

Suggested Schedules

1. Copy of Original Guarantee: Attached copy of the original personal guarantee document being released

2. Corporate Resolutions: If applicable, resolutions or authorizations proving the authority to grant the release

3. Payment Confirmation: If the release is granted following a payment or settlement, evidence of such payment

4. Related Release Documents: Copies of any related releases or termination documents that form part of the overall release transaction

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

Banking and Financial Services

Real Estate

Construction

Manufacturing

Trading and Distribution

Professional Services

Retail

Infrastructure Development

Hospitality

Import/Export

Relevant Teams

Legal

Finance

Risk Management

Compliance

Credit Administration

Corporate Secretariat

Treasury

Operations

Business Development

Documentation

Relevant Roles

Chief Financial Officer

Finance Director

Legal Counsel

Risk Manager

Credit Manager

Relationship Manager

Compliance Officer

Corporate Secretary

Treasury Manager

Managing Director

Contract Administrator

Legal Operations Manager

Banking Officer

Credit Risk Officer

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Simple General Release Form

An Indonesian law-compliant document where one party releases legal claims against another in exchange for consideration.

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Authors

Alex Denne

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