Security Deposit Agreement Form Template for Indonesia

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Key Requirements PROMPT example:

Security Deposit Agreement Form

"I need a Security Deposit Agreement Form for a commercial office space lease in Jakarta, with a deposit amount of 500 million IDR, where the deposit will be held in an interest-bearing escrow account and returned by March 2025."

Document background

The Security Deposit Agreement Form is a crucial legal document used in Indonesian business transactions to protect both parties' interests in arrangements requiring security deposits. This document is commonly utilized in property rentals, service contracts, and commercial leases, providing a formal framework for the handling of deposit funds. The agreement must comply with Indonesian Civil Code (KUHPerdata) and relevant regulations, including consumer protection laws and banking regulations. It typically includes detailed provisions for deposit amount, payment terms, maintenance, permissible deductions, and return conditions. The document is essential for risk management and establishing clear procedures for deposit handling, particularly important in Indonesia's business environment where formal documentation of financial arrangements is legally required.

Suggested Sections

1. Parties: Identification of the depositor and deposit holder, including complete legal names, addresses, and any relevant registration numbers

2. Background: Context of the security deposit arrangement, including reference to the main agreement it relates to (e.g., lease agreement)

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

4. Deposit Amount and Payment: Specification of the security deposit amount, currency, and payment method

5. Purpose of Security Deposit: Clear statement of what the security deposit is intended to cover

6. Holding and Management of Deposit: Details of how and where the deposit will be held, including any interest arrangements

7. Conditions for Deduction: Specific circumstances under which deductions can be made from the deposit

8. Return of Deposit: Terms and conditions for the return of the deposit, including timeline and process

9. Dispute Resolution: Process for resolving any disputes related to the deposit

10. Governing Law: Specification of Indonesian law as the governing law

11. Signatures: Execution block for all parties to sign

Optional Sections

1. Interest Provisions: Details about interest earned on the deposit, if applicable for longer-term deposits

2. Bank Account Details: Specific section for bank account information if the deposit is held in a separate account

3. Insurance Requirements: Additional insurance requirements related to the security deposit, if any

4. Force Majeure: Provisions for extraordinary circumstances affecting the deposit arrangement

5. Assignment: Terms regarding the transfer or assignment of rights under the agreement

6. Notices: Formal requirements for communications between parties regarding the deposit

Suggested Schedules

1. Schedule A - Deposit Calculation: Detailed breakdown of how the security deposit amount was calculated

2. Schedule B - Condition Report: If related to property, a detailed condition report referenced for potential deductions

3. Schedule C - Deduction Guidelines: Specific guidelines and rates for potential deductions from the deposit

4. Appendix 1 - Payment Details: Complete banking or payment information for deposit transactions

5. Appendix 2 - Required Documents: List of supporting documents required from both parties

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

Commercial Property

Residential Property

Retail

Hospitality

Industrial

Office Space

Banking and Financial Services

Property Management

Facilities Management

Relevant Teams

Legal

Finance

Property Management

Operations

Compliance

Risk Management

Asset Management

Tenant Relations

Facilities Management

Contract Administration

Relevant Roles

Property Manager

Leasing Manager

Legal Counsel

Real Estate Manager

Facilities Manager

Contract Administrator

Finance Manager

Operations Manager

Compliance Officer

Risk Manager

Asset Manager

Property Administrator

Tenant Relations Manager

Building Manager

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Let's create your Security Deposit Agreement Form

Authors

Alex Denne

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