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Security Agreement Form for Indonesia

Security Agreement Form Template for Indonesia

A Security Agreement Form under Indonesian law is a formal legal document that creates and evidences a security interest over specified assets or property in favor of a creditor. The agreement must comply with Indonesian security laws, particularly Law No. 42 of 1999 on Fiduciary Security and related regulations. It details the collateral being secured, the obligations being guaranteed, and the rights and responsibilities of both the creditor and debtor. The document includes specific provisions required under Indonesian law for enforceability, including registration requirements, power of attorney clauses, and enforcement mechanisms recognized by Indonesian courts.

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What is a Security Agreement Form?

The Security Agreement Form is a critical document used in Indonesian financing transactions to create legally enforceable security interests over assets. It is essential when a creditor requires collateral to secure a loan or other financial obligations. The document must comply with Indonesian law requirements, particularly Law No. 42 of 1999 on Fiduciary Security, Law No. 4 of 1996 on Mortgage Rights, and related regulations. The agreement specifies the collateral, includes mandatory provisions for enforceability, and requires registration with appropriate authorities. This Security Agreement Form is commonly used in various contexts, from corporate lending to asset finance, and must be executed in accordance with Indonesian legal formalities to ensure valid creation and perfection of the security interest.

What sections should be included in a Security Agreement Form?

1. Parties: Identification of the Secured Party (creditor) and the Grantor (debtor), including their full legal names, addresses, and registration details

2. Background: Context of the security arrangement, reference to underlying credit agreement or facility, and purpose of the security

3. Definitions and Interpretation: Key terms used in the agreement, including defined terms from Indonesian law and regulations

4. Grant of Security Interest: Core provision creating the security interest, specification of the type of security under Indonesian law

5. Secured Obligations: Description of the obligations being secured, including principal debt, interest, and other secured amounts

6. Representations and Warranties: Grantor's confirmations regarding ownership, authority, and status of collateral

7. Perfection Requirements: Requirements for registration and other steps needed to perfect the security interest under Indonesian law

8. Maintenance of Collateral: Grantor's obligations regarding preservation and maintenance of the collateral

9. Events of Default: Circumstances constituting default and triggering enforcement rights

10. Enforcement Rights: Secured Party's rights and remedies upon default, compliant with Indonesian enforcement procedures

11. Powers of Attorney: Irrevocable powers granted to the Secured Party for security perfection and enforcement

12. Governing Law and Jurisdiction: Confirmation of Indonesian law governance and jurisdiction of Indonesian courts

What sections are optional to include in a Security Agreement Form?

1. Insurance Requirements: Specific insurance obligations for the collateral - include when collateral requires insurance coverage

2. Third Party Rights: Provisions regarding rights of third parties - include when collateral may be subject to other claims

3. Currency Provisions: Currency conversion and payment provisions - include for cross-border transactions

4. Tax Provisions: Allocation of tax obligations - include when significant tax implications exist

5. Further Assurance: Obligations to execute additional documents - include for complex security arrangements

6. Security Agent Provisions: Include when security is held by an agent for multiple creditors

What schedules should be included in a Security Agreement Form?

1. Schedule 1 - Collateral Description: Detailed description and identification of all collateral covered by the security interest

2. Schedule 2 - Form of Registration Statement: Template for fiduciary security registration statement (if applicable)

3. Schedule 3 - Existing Security Interests: List of any pre-existing security interests or encumbrances on the collateral

4. Schedule 4 - Powers of Attorney: Forms of powers of attorney required under Indonesian law

5. Schedule 5 - Perfection Requirements: Detailed checklist of registration and perfection requirements

6. Appendix A - Related Agreements: List and copies of related credit or facility agreements

7. Appendix B - Corporate Authorizations: Copies of corporate approvals and authorizations

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

Agreement Contract

Cost

Free to use
Relevant legal definitions




































Clauses






























Relevant Industries

Banking and Financial Services

Corporate Lending

Asset Finance

Real Estate

Manufacturing

Infrastructure

Trade Finance

Commercial Real Estate

Industrial

Agriculture

Mining and Resources

Retail

Technology

Relevant Teams

Legal

Finance

Treasury

Risk Management

Compliance

Credit Administration

Corporate Secretariat

Securities Administration

Loan Operations

Corporate Finance

Relevant Roles

Legal Counsel

Finance Director

Credit Manager

Risk Manager

Corporate Secretary

Compliance Officer

Treasury Manager

Chief Financial Officer

Legal Director

Credit Risk Officer

Security Trustee

Loan Officer

Corporate Lawyer

Banking Lawyer

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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