The Equipment Finance Agreement serves as a crucial document for businesses in Indonesia seeking to acquire equipment through financing arrangements rather than outright purchase. This agreement is particularly relevant when companies need to obtain expensive machinery, vehicles, or other equipment while managing their cash flow effectively. The document must comply with Indonesian financial regulations, including OJK Regulation No. 29/POJK.05/2014 and the Civil Code (KUH Perdata), while also incorporating necessary security arrangements under Law No. 42 of 1999 on Fiduciary Security. It typically includes detailed specifications of the equipment, financing terms, security arrangements, maintenance requirements, and risk allocation between parties. The agreement is commonly used across various industries where significant capital expenditure is required for equipment acquisition.
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1. Parties: Identification of the finance provider and the borrower/lessee
2. Background: Context of the agreement and brief description of the transaction
3. Definitions: Definitions of key terms used throughout the agreement
4. Equipment Details: Detailed description of the financed equipment including specifications and identification numbers
5. Financing Terms: Amount financed, interest rate, payment schedule, and term of financing
6. Security Interest: Creation and registration of security interest over the equipment
7. Conditions Precedent: Conditions that must be satisfied before the agreement becomes effective
8. Representations and Warranties: Statements of fact and assurances from both parties
9. Covenants: Ongoing obligations of the borrower regarding equipment use, maintenance, and insurance
10. Insurance Requirements: Required insurance coverage for the equipment
11. Default Events: Circumstances constituting default and consequences
12. Enforcement Rights: Rights of the finance provider in case of default
13. Governing Law and Jurisdiction: Specification of Indonesian law as governing law and jurisdiction for disputes
14. Notices: Process for formal communications between parties
15. General Provisions: Standard boilerplate clauses including amendments, assignments, and severability
1. Guarantees: Terms of any personal or corporate guarantees - include when there is a guarantor
2. Additional Security: Terms for any additional collateral beyond the equipment - include when additional security is required
3. Maintenance and Service: Specific maintenance requirements and service arrangements - include when the finance provider requires specific maintenance standards
4. Import Requirements: Specific provisions for imported equipment - include when equipment is imported
5. Special Use Conditions: Specific conditions for equipment use in regulated industries - include when equipment is used in regulated sectors
6. Tax Provisions: Detailed tax implications and responsibilities - include when complex tax arrangements apply
7. Currency Protection: Provisions for managing currency risk - include when financing is in foreign currency
1. Equipment Schedule: Detailed technical specifications, serial numbers, and location of equipment
2. Payment Schedule: Detailed breakdown of payment amounts, dates, and interest calculations
3. Insurance Requirements: Detailed insurance specifications including types of coverage, amounts, and named parties
4. Form of Security Documents: Templates for security filings and registrations
5. Condition Report: Initial condition report of equipment
6. Maintenance Requirements: Detailed maintenance schedules and requirements
7. Required Permits: List of required permits and licenses for equipment operation
8. Form of Acceptance Certificate: Template for equipment acceptance and commissioning
Relevant legal definitions
Clauses
Relevant Industries
Manufacturing
Construction
Mining
Agriculture
Transportation
Logistics
Healthcare
Industrial Processing
Telecommunications
Energy
Infrastructure
Maritime
Aviation
Food Processing
Textiles
Relevant Teams
Legal
Finance
Treasury
Operations
Procurement
Risk Management
Asset Management
Compliance
Credit
Commercial
Equipment Management
Fleet Management
Relevant Roles
Chief Financial Officer
Finance Director
Treasury Manager
Equipment Manager
Operations Director
Procurement Manager
Legal Counsel
Risk Manager
Asset Manager
Fleet Manager
Financial Controller
Commercial Director
Credit Manager
Compliance Officer
Operations Manager
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