The Car Sale Payment Agreement is a crucial document used in Indonesia when structuring vehicle sales transactions involving installment payments or specific payment arrangements. This agreement is designed to comply with Indonesian legal requirements, including the Civil Code (KUHPerdata), Consumer Protection Law, and Financial Services Authority regulations. It serves as a comprehensive contract that protects both seller and buyer interests by clearly documenting the vehicle details, payment terms, ownership transfer conditions, and respective obligations of all parties involved. The document is particularly important in both private and commercial vehicle sales where payment is not made in a single transaction, and it helps ensure legal compliance while providing clear remedies in case of payment defaults or disputes.
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1. Parties: Identification of the seller and buyer with complete legal names and addresses
2. Background: Context of the sale transaction and general purpose of the agreement
3. Definitions: Definitions of key terms used throughout the agreement
4. Vehicle Details: Comprehensive description of the vehicle including make, model, year, color, VIN, and registration number
5. Purchase Price: Total purchase price and breakdown of costs including taxes and fees
6. Payment Terms: Payment schedule, installment amounts, and payment methods
7. Delivery and Transfer: Terms of vehicle delivery and transfer of ownership process
8. Seller's Representations: Warranties and representations about the vehicle's condition and ownership
9. Buyer's Obligations: Responsibilities of the buyer including payments, insurance, and maintenance
10. Default and Remedies: Consequences of payment default and available legal remedies
11. Governing Law: Specification of Indonesian law as governing law and jurisdiction
12. Execution: Signature blocks and execution requirements
1. Insurance Requirements: Used when specific insurance requirements need to be mandated during the payment period
2. Security Interest: Include when the seller maintains a security interest in the vehicle until full payment
3. Third-Party Financing: Required when a financial institution is involved in the payment arrangement
4. Trade-In Details: Include when there is a vehicle trade-in as part of the transaction
5. Early Payment Provisions: Terms for early payment or early termination of the payment plan
6. Vehicle Maintenance Requirements: Include when specific maintenance conditions need to be maintained during the payment period
7. Cross-Border Usage: Include when the vehicle may be used across provincial or international borders
1. Schedule A - Vehicle Specification: Detailed technical specifications and features of the vehicle
2. Schedule B - Payment Schedule: Detailed breakdown of payment dates, amounts, and methods
3. Schedule C - Vehicle Condition Report: Current condition assessment and any existing damage or issues
4. Schedule D - Required Documentation: List of all required ownership and registration documents
5. Appendix 1 - Vehicle Registration Documents: Copies of current registration and ownership documents
6. Appendix 2 - Vehicle Service History: Documentation of maintenance and service history
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