A Release Of Personal Guaranty is a crucial document in Indonesian business and financial transactions that formally terminates a guarantor's obligations under a personal guarantee agreement. This document is typically used when the original debt has been satisfied, the business relationship has concluded, or as part of a larger settlement arrangement. Under Indonesian law, particularly the Civil Code (KUHPerdata) and relevant banking regulations, the release must be explicit and properly documented to effectively discharge the guarantor's obligations. The document includes specific details about the original guarantee, the parties involved, and the scope of the release, ensuring legal certainty for all parties involved. It's commonly used in banking transactions, corporate lending, and business arrangements where personal guarantees are required as additional security.
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1. Date and Place of Execution: The date and location where the release document is executed
2. Parties Identification: Full details of the creditor issuing the release and the guarantor being released, including their complete legal names, addresses, and any relevant registration numbers
3. Original Guarantee Reference: Details of the original personal guarantee being released, including date, parties involved, and any reference numbers
4. Principal Debt Reference: Reference to the main debt or obligation for which the guarantee was provided
5. Release Declaration: Clear and unambiguous statement releasing the guarantor from all obligations under the original guarantee
6. Effective Date: Specification of when the release takes effect
7. Governing Law Statement: Confirmation that the release is governed by Indonesian law
8. Signature Block: Space for authorized signature(s) of the creditor, with name and title
1. Consideration Statement: Include when the release is being given in exchange for some consideration or as part of a settlement
2. Partial Release Provisions: Include when only certain obligations under the guarantee are being released while others remain in effect
3. Conditions Precedent: Include when the release is subject to certain conditions being met
4. Witness Section: Include when additional verification of execution is desired or required
5. Corporate Authorization: Include when the creditor is a corporation and needs to confirm proper authorization for the release
6. Bilingual Text: Include when document needs to be in both Indonesian and English languages
1. Copy of Original Guarantee: Attached copy of the original personal guarantee document being released
2. Corporate Resolutions: If applicable, resolutions or authorizations proving the authority to grant the release
3. Payment Confirmation: If the release is granted following a payment or settlement, evidence of such payment
4. Related Release Documents: Copies of any related releases or termination documents that form part of the overall release transaction
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Real Estate
Construction
Manufacturing
Trading and Distribution
Professional Services
Retail
Infrastructure Development
Hospitality
Import/Export
Relevant Teams
Legal
Finance
Risk Management
Compliance
Credit Administration
Corporate Secretariat
Treasury
Operations
Business Development
Documentation
Relevant Roles
Chief Financial Officer
Finance Director
Legal Counsel
Risk Manager
Credit Manager
Relationship Manager
Compliance Officer
Corporate Secretary
Treasury Manager
Managing Director
Contract Administrator
Legal Operations Manager
Banking Officer
Credit Risk Officer
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