Vehicle Sales Agreement With Payments Template for Indonesia

The Vehicle Sales Agreement With Payments is essential for transactions involving vehicle purchases with installment payment arrangements in Indonesia. This document is primarily used when a buyer wishes to purchase a vehicle through scheduled payments rather than a single lump sum payment. It combines elements of a standard vehicle sale agreement with specific financing terms, ensuring compliance with Indonesian civil code, consumer protection laws, and financial regulations. The agreement protects both seller and buyer interests by clearly defining payment terms, ownership transfer conditions, and default remedies. It's particularly relevant in the Indonesian market where installment purchases represent a significant portion of vehicle sales transactions.

1. Parties: Identification and details of the Seller and Buyer, including complete legal names, addresses, and identification numbers

2. Background: Context of the sale and brief description of the transaction

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

4. Vehicle Details: Comprehensive description of the vehicle including make, model, year, VIN, color, mileage, and existing condition

5. Purchase Price and Payment Terms: Total purchase price, payment schedule, installment amounts, and payment methods

6. Delivery and Transfer of Ownership: Terms regarding vehicle delivery, transfer of title, and registration procedures

7. Seller's Representations and Warranties: Seller's declarations about vehicle condition, ownership, and absence of liens

8. Buyer's Obligations: Buyer's responsibilities including payments, insurance, and maintenance requirements

9. Default and Remedies: Consequences of payment default and available legal remedies

10. Insurance Requirements: Mandatory insurance coverage during the payment period

11. Governing Law and Dispute Resolution: Applicable Indonesian law and dispute resolution procedures

12. General Provisions: Standard clauses including notices, amendments, and severability