The Simple Loan Agreement is a fundamental legal instrument used in Indonesia for documenting lending arrangements between parties. This document is typically used for straightforward lending transactions where one party (the lender) provides financial assistance to another party (the borrower) with defined repayment terms. The agreement must comply with Indonesian Civil Code requirements and relevant banking regulations, particularly Law No. 7 of 1992 on Banking (as amended) and OJK regulations. It's commonly used for business loans, personal lending, and small to medium-sized financial transactions where complex security arrangements aren't required. The document includes essential provisions for loan amount, interest calculation, repayment schedule, default scenarios, and enforcement mechanisms, all structured to be enforceable under Indonesian law.
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1. Parties: Identification and details of the Lender and Borrower, including their full legal names, addresses, and any registration numbers
2. Background: Brief context of the loan arrangement and the parties' intention to enter into the agreement
3. Definitions: Definitions of key terms used throughout the agreement
4. Loan Amount and Purpose: Specification of the principal amount being lent and the agreed purpose of the loan
5. Interest Rate: Details of the applicable interest rate, calculation method, and payment frequency
6. Repayment Terms: Schedule of repayments, including payment dates, amounts, and method of payment
7. Representations and Warranties: Basic statements of fact and assurances given by the Borrower
8. Events of Default: Circumstances that constitute default and the consequences thereof
9. Notices: How and where formal communications between parties should be made
10. Governing Law: Confirmation that Indonesian law governs the agreement
1. Security: Details of any collateral or security provided for the loan - include when the loan is secured
2. Guarantor: Terms relating to any guarantor of the loan - include when there is a third-party guarantor
3. Insurance: Requirements for insurance of any secured assets - include when collateral is involved
4. Early Repayment: Terms for early repayment or prepayment of the loan - include when early repayment is permitted
5. Assignment: Rights to assign or transfer the loan - include when either party may need to transfer rights
6. Force Majeure: Provisions for unforeseen circumstances - include for longer-term loans
7. Costs and Expenses: Allocation of legal and administrative costs - include when significant costs are involved
1. Repayment Schedule: Detailed schedule showing all repayment dates and amounts
2. Security Details: Specific details of any security or collateral provided
3. Condition Precedent Documents: List of documents required before the loan becomes effective
4. Form of Notice: Standard templates for formal notices under the agreement
5. Bank Account Details: Banking information for loan disbursement and repayments
Relevant legal definitions
Clauses
Relevant Industries
Financial Services
Banking
Real Estate
Small Business
Commercial Lending
Retail
Manufacturing
Agriculture
Technology
Professional Services
Relevant Teams
Legal
Finance
Credit Risk
Compliance
Treasury
Commercial
Business Development
Corporate Secretariat
Operations
Relevant Roles
Legal Counsel
Finance Manager
Credit Officer
Loan Officer
Risk Manager
Compliance Officer
Commercial Director
Business Development Manager
Chief Financial Officer
Treasury Manager
Contract Administrator
Company Secretary
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