The Formal Partnership Agreement serves as a foundational document for establishing business partnerships in Indonesia, whether between domestic parties or involving foreign partners. This document is essential when two or more parties wish to formalize their business relationship under Indonesian law, particularly when establishing a long-term business venture with shared capital, risks, and profits. The agreement must comply with the Indonesian Civil Code, Commercial Code, and relevant investment laws, especially Law No. 25 of 2007 on Investment for partnerships involving foreign parties. It includes comprehensive provisions covering partnership structure, capital contributions, profit-sharing mechanisms, management rights, and dispute resolution procedures, while addressing specific regulatory requirements for different business sectors in Indonesia. The document is particularly crucial for businesses seeking to establish a clear legal framework for their partnership while ensuring compliance with Indonesian partnership regulations and business practices.
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1. Parties: Identifies and provides full details of all partners, including names, registration numbers, addresses, and authorized representatives
2. Background: Sets out the context and intention of the partners to form a partnership, including any relevant business history
3. Definitions and Interpretation: Defines key terms used throughout the agreement and establishes interpretation rules
4. Partnership Formation and Name: Establishes the partnership's official name, effective date, and formal establishment under Indonesian law
5. Purpose and Business Scope: Defines the partnership's business objectives and permitted activities
6. Capital Contributions: Details initial and ongoing capital contributions from each partner, including valuation of non-cash contributions
7. Profit and Loss Sharing: Specifies the ratio and mechanism for distributing profits and losses among partners
8. Management and Decision Making: Outlines management structure, voting rights, and decision-making processes
9. Partners' Rights and Obligations: Lists the specific rights and duties of each partner
10. Banking and Financial Matters: Establishes financial management procedures, banking arrangements, and accounting practices
11. Partnership Property: Defines ownership and usage rights of partnership assets
12. Representations and Warranties: Contains partners' declarations and assurances regarding their capacity and authority
13. Term and Termination: Specifies partnership duration and grounds for termination
14. Dissolution and Liquidation: Procedures for winding up the partnership and distributing assets
15. Governing Law and Dispute Resolution: Specifies Indonesian law as governing law and outlines dispute resolution mechanisms
16. Notices: Specifies how formal communications between partners should be made
17. General Provisions: Includes standard clauses such as amendments, severability, and entire agreement
1. Non-Competition and Non-Solicitation: Restricts partners from competing with the partnership or soliciting employees/clients - include when partners have other business interests
2. Intellectual Property Rights: Addresses ownership and usage of IP - include when the partnership involves significant IP assets
3. Foreign Investment Provisions: Special provisions complying with Indonesian foreign investment laws - include when foreign partners are involved
4. Employee Management: Procedures for hiring, managing, and terminating employees - include for larger partnerships with employees
5. Insurance: Requirements for business insurance coverage - include when specific insurance needs exist
6. Environmental Compliance: Environmental protection obligations - include for partnerships in industries with environmental impact
7. Regulatory Compliance: Industry-specific regulatory requirements - include for heavily regulated industries
8. Force Majeure: Provisions for handling unforeseen circumstances - include when business is susceptible to external disruptions
1. Schedule 1: Capital Contributions: Detailed breakdown of each partner's initial and committed capital contributions
2. Schedule 2: Profit Sharing Ratios: Detailed calculations and conditions for profit/loss distribution
3. Schedule 3: Management Structure: Organizational chart and detailed management responsibilities
4. Schedule 4: Business Plan: Initial business plan and strategic objectives
5. Schedule 5: Partner Information: Detailed information about each partner, including KYC documentation
6. Schedule 6: Partnership Assets: Inventory of initial partnership assets and their agreed values
7. Schedule 7: Required Licenses and Permits: List of necessary business licenses and regulatory permits
8. Appendix A: Power of Attorney: Standard format for partnership-related powers of attorney
9. Appendix B: Compliance Procedures: Detailed compliance procedures and checklists
Relevant legal definitions
Clauses
Relevant Industries
Manufacturing
Technology
Professional Services
Retail and Distribution
Agriculture and Food Processing
Construction and Real Estate
Tourism and Hospitality
Financial Services
Mining and Natural Resources
Education and Training
Healthcare and Medical Services
Import/Export
Creative Industries
Consulting Services
Environmental Services
Relevant Teams
Legal
Corporate Affairs
Finance
Compliance
Business Development
Operations
Risk Management
International Business
Strategy
Investment
Governance
Partnership Management
Relevant Roles
Chief Executive Officer
Managing Director
Business Development Manager
Legal Counsel
Corporate Secretary
Chief Financial Officer
Partnership Manager
Operations Director
Compliance Officer
Investment Manager
Business Owner
Company Director
Senior Partner
Joint Venture Manager
Risk Management Officer
Strategy Director
International Business Manager
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