The Third Party Settlement Agreement is a crucial legal instrument used in Indonesian business and legal practice when parties seek to resolve disputes through structured settlement with third-party facilitation. This document becomes relevant when direct negotiations between parties have reached an impasse, requiring neutral third-party intervention to achieve resolution. The agreement must comply with Indonesian Civil Code (KUHPerdata) requirements and Law No. 30 of 1999 on Arbitration and Alternative Dispute Resolution. It typically includes detailed settlement terms, payment arrangements, releases, and the specific role of the third-party facilitator. The document is particularly valuable in complex commercial disputes where maintaining business relationships is important, offering a more flexible and less adversarial alternative to litigation while ensuring legal enforceability under Indonesian law.
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1. Parties: Identifies all parties to the agreement including the two primary disputing parties and the third party facilitator/mediator
2. Background: Recitals explaining the nature of the dispute, relationship between parties, and context for the settlement
3. Definitions: Defines key terms used throughout the agreement
4. Settlement Terms: Details the core terms of settlement including obligations, rights, and concessions of each party
5. Payment Terms: Specifies amount, timing, and method of any settlement payments
6. Release and Waiver: Mutual release of claims and waiver of future actions related to the settled dispute
7. Third Party Role and Obligations: Defines the role, responsibilities, and authority of the third party in facilitating the settlement
8. Confidentiality: Provisions regarding confidentiality of the settlement terms and related discussions
9. Representations and Warranties: Standard representations about authority to enter agreement and binding nature of obligations
10. Governing Law and Jurisdiction: Specifies Indonesian law as governing law and defines jurisdiction for disputes
11. General Provisions: Standard boilerplate including severability, entire agreement, amendments, and notices
1. Tax Provisions: Include when settlement involves significant monetary compensation or tax implications
2. Regulatory Compliance: Include when settlement relates to regulated industries or requires regulatory approvals
3. Intellectual Property Rights: Include when settlement involves IP rights or licensing
4. Non-Disparagement: Include when parties wish to prevent public criticism or negative statements
5. Implementation Timeline: Include when settlement requires complex or phased implementation
6. Dispute Resolution: Include when parties want specific procedures for resolving future disputes about the settlement
7. Insurance and Indemnification: Include when ongoing indemnification or insurance obligations exist
1. Schedule A - Settlement Payment Details: Detailed breakdown of payment amounts, installments, and payment methods
2. Schedule B - Release Documentation: Forms and notices required to formally document the release of claims
3. Schedule C - Implementation Plan: Detailed timeline and steps for implementing settlement terms
4. Appendix 1 - Original Dispute Documentation: Key documents relating to the original dispute
5. Appendix 2 - Corporate Authorizations: Corporate resolutions or authorizations to enter into settlement
6. Appendix 3 - Supporting Evidence: Any relevant evidence or documentation supporting settlement terms
Relevant legal definitions
Clauses
Relevant Industries
Financial Services
Manufacturing
Real Estate
Construction
Technology
Retail
Energy
Mining
Healthcare
Transportation
Telecommunications
Professional Services
Agriculture
Education
Relevant Teams
Legal
Compliance
Risk Management
Corporate Secretariat
Finance
Executive Management
Operations
Commercial
Business Development
Contract Administration
Relevant Roles
Chief Legal Officer
General Counsel
Legal Director
Compliance Officer
Chief Executive Officer
Chief Financial Officer
Risk Manager
Corporate Secretary
Dispute Resolution Manager
Settlement Officer
Legal Counsel
Commercial Director
Business Development Manager
Contract Manager
Head of Legal Operations
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