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Letter Of Intent For Payment Arrangement for Indonesia

Letter Of Intent For Payment Arrangement Template for Indonesia

A Letter of Intent for Payment Arrangement under Indonesian law is a preliminary document that outlines the proposed terms and conditions for settling outstanding financial obligations between parties. This document, while not typically legally binding in its entirety, establishes the framework for a formal payment agreement and demonstrates good faith between the parties involved. It details the proposed payment schedule, amounts, methods of payment, and other relevant terms while adhering to Indonesian civil law principles, particularly those outlined in the Indonesian Civil Code (KUHPerdata) regarding contractual obligations and debt arrangements.

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What is a Letter Of Intent For Payment Arrangement?

The Letter of Intent for Payment Arrangement is commonly used in Indonesian business contexts when parties need to establish a structured approach to settling outstanding debts or financial obligations. This document serves as a crucial intermediary step between informal discussions and a formal payment agreement, particularly useful in situations involving debt restructuring, supplier payment plans, or commercial dispute resolutions. While governed by Indonesian law, particularly the Indonesian Civil Code (KUHPerdata) and relevant financial regulations, it provides a flexible framework for parties to outline their intentions and proposed terms before committing to a binding agreement. The document typically includes details about the outstanding amount, proposed payment schedule, payment methods, and any specific conditions that will apply to the arrangement.

What sections should be included in a Letter Of Intent For Payment Arrangement?

1. Date and Address Block: Complete date and addresses of both parties in proper business letter format

2. Subject Line: Clear indication that this is a Letter of Intent for Payment Arrangement

3. Opening Paragraph: Identification of all parties and their roles (creditor/debtor)

4. Background: Brief description of the existing debt or obligation, including original amount, date incurred, and current outstanding balance

5. Payment Terms: Detailed outline of the proposed payment arrangement, including amount, frequency, and duration of payments

6. Payment Method: Specification of acceptable payment methods and banking details

7. Timeline: Key dates including commencement date and completion date of the payment arrangement

8. Confirmation of Intent: Clear statement that this letter represents an intention to enter into a formal payment arrangement

9. Closing and Signatures: Formal closing, signature blocks for both parties

What sections are optional to include in a Letter Of Intent For Payment Arrangement?

1. Interest Terms: Include when there is an agreement on interest charges during the payment period

2. Default Provisions: Include when parties want to specify consequences of missing payments

3. Confidentiality Statement: Include when the arrangement contains sensitive financial information

4. Good Faith Deposit: Include when an initial deposit is required to demonstrate commitment

5. Governing Law: Include when dealing with inter-provincial or international parties

6. Contact Details: Include when specific personnel are designated to handle the arrangement

What schedules should be included in a Letter Of Intent For Payment Arrangement?

1. Payment Schedule: Detailed breakdown of payment dates and amounts

2. Statement of Account: Current detailed statement showing total outstanding amount and calculation

3. Supporting Documents: Copies of original agreements or invoices referenced in the letter

4. Bank Details: Separate schedule with complete banking information for payments

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Indonesia

Publisher

Ƶ

Document Type

Letter of Intent

Cost

Free to use
Relevant legal definitions


























Clauses




















Relevant Industries

Banking & Financial Services

Manufacturing

Retail

Construction

Real Estate

Trading & Distribution

Professional Services

Technology

Healthcare

Energy

Telecommunications

Agriculture

Mining

Transportation & Logistics

Relevant Teams

Finance

Legal

Accounts Receivable

Accounts Payable

Treasury

Credit Control

Risk Management

Commercial Operations

Corporate Finance

Debt Recovery

Relevant Roles

Chief Financial Officer

Finance Director

Credit Controller

Accounts Receivable Manager

Collections Manager

Treasury Manager

Financial Controller

Accounts Payable Manager

Business Development Manager

Legal Counsel

Risk Manager

Commercial Director

Managing Director

Corporate Finance Manager

Debt Recovery Specialist

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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