The Letter of Termination of Purchase and Sale Agreement is a crucial document used in Indonesian business transactions when parties need to formally end their commercial relationship under an existing Purchase and Sale Agreement. This document is essential when either party wishes to terminate the agreement according to its terms or under circumstances permitted by Indonesian law. It must comply with the Indonesian Civil Code (KUHPerdata) and relevant commercial regulations, particularly Law No. 7 of 2014 on Trade. The letter should clearly state the termination basis, effective date, and address practical matters such as outstanding payments, delivery obligations, or the return of goods. It serves as official documentation of the termination and helps prevent future disputes by clearly outlining the parties' rights and obligations during the termination process.
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1. Letter Header and Date: Formal business letter header including sender's details, recipient's details, and date
2. Reference Line: Clear reference to the original Purchase and Sale Agreement including its date and any reference numbers
3. Subject Line: Clear indication that this is a termination notice
4. Agreement Identification: Specific details of the agreement being terminated, including date of execution and parties involved
5. Termination Statement: Clear and unambiguous statement of termination, including the effective date
6. Legal Basis: Reference to the specific clause in the original agreement or legal basis allowing for termination
7. Closing Statement: Formal closing, signature block, and company stamp if required
1. Outstanding Payments: Include when there are any pending financial obligations to be settled
2. Return of Goods: Include when physical goods need to be returned as part of the termination
3. Mutual Release: Include when parties agree to release each other from future claims
4. Confidentiality Reminder: Include when the original agreement contained confidentiality obligations that survive termination
5. Transition Arrangements: Include when specific arrangements are needed for smooth transition post-termination
6. Dispute Resolution Reference: Include when there are ongoing disputes or potential for disputes
1. Copy of Original Agreement: Attach the original Purchase and Sale Agreement being terminated
2. Statement of Outstanding Matters: List of any pending obligations, payments, or deliveries
3. Handover Schedule: Timeline and process for returning any goods or documents if applicable
4. Final Account Statement: Detailed statement of any financial settlements required
Authors
Relevant legal definitions
Clauses
Relevant Industries
Retail
Manufacturing
Real Estate
Construction
Agriculture
Mining
Technology
Consumer Goods
Industrial Equipment
Automotive
Energy
Telecommunications
Trading and Distribution
E-commerce
Relevant Teams
Legal
Procurement
Sales
Commercial
Operations
Compliance
Supply Chain
Contract Administration
Business Development
Corporate Secretariat
Relevant Roles
Legal Counsel
Contract Manager
Procurement Manager
Sales Director
Commercial Director
Business Development Manager
Company Secretary
Compliance Officer
Operations Manager
General Manager
Chief Legal Officer
Chief Commercial Officer
Purchase Manager
Supply Chain Manager
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