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Simple Interest Loan Contract for Indonesia

Simple Interest Loan Contract Template for Indonesia

A comprehensive loan agreement governed by Indonesian law that establishes the terms and conditions for a simple interest loan between a lender and borrower. The document complies with Indonesian Civil Code (KUHPerdata) and relevant OJK regulations, detailing the principal amount, fixed simple interest rate, repayment terms, and obligations of all parties. It includes essential provisions for loan security, default scenarios, and dispute resolution mechanisms while ensuring transparency in accordance with Indonesian financial services regulations.

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Simple Interest Loan Contract

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What is a Simple Interest Loan Contract?

The Simple Interest Loan Contract is a fundamental financial instrument used in Indonesian business and personal transactions, governed by Indonesian law and regulations. This document is essential when parties wish to establish a straightforward lending arrangement using simple interest calculations rather than compound interest, making it particularly suitable for short to medium-term loans. The agreement ensures compliance with Indonesian Civil Code (KUHPerdata) and Financial Services Authority (OJK) regulations while protecting both lender and borrower interests. It's commonly used by banks, financial institutions, and private lenders for business loans, personal financing, and asset acquisition, containing all necessary provisions for loan amount, interest calculation, repayment terms, and default mechanisms.

What sections should be included in a Simple Interest Loan Contract?

1. Parties: Identifies and provides full details of the Lender and Borrower, including registration numbers for companies or ID numbers for individuals

2. Background: Brief context of the loan arrangement and the parties' intention to enter into this agreement

3. Definitions: Defines key terms used throughout the agreement including 'Interest Rate', 'Principal Amount', 'Repayment Date', etc.

4. Loan Amount and Purpose: Specifies the principal amount of the loan and its intended use

5. Interest Rate: Details of the simple interest rate and calculation method

6. Repayment Terms: Specifies repayment schedule, payment methods, and due dates

7. Representations and Warranties: Standard declarations by the Borrower about their capacity and authority to enter into the agreement

8. Events of Default: Lists circumstances that constitute default and the consequences thereof

9. Notices: How formal communications between parties should be made and delivered

10. Governing Law and Jurisdiction: Confirms Indonesian law as governing law and specifies jurisdiction for dispute resolution

What sections are optional to include in a Simple Interest Loan Contract?

1. Security: Include when the loan is secured against specific assets or collateral

2. Guarantor: Include when a third party is guaranteeing the loan

3. Insurance: Include when insurance of the borrower or any collateral is required

4. Prepayment Terms: Include if early repayment is allowed and any associated conditions or penalties

5. Assignment: Include if either party may assign their rights under the agreement

6. Force Majeure: Include for longer-term loans to address unforeseen circumstances affecting performance

What schedules should be included in a Simple Interest Loan Contract?

1. Repayment Schedule: Detailed table showing payment dates, amounts, and interest calculations

2. Asset Schedule: Description of any assets provided as security (if applicable)

3. KYC Documents: List of required identity and verification documents as per Indonesian regulations

4. Bank Account Details: Specified bank accounts for disbursement and repayment

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

Financing Agreement

Cost

Free to use
Relevant legal definitions






























Clauses




























Relevant Industries

Banking & Financial Services

Small Business & Entrepreneurship

Real Estate

Agriculture

Manufacturing

Retail

Technology

Education

Healthcare

Construction

Relevant Teams

Legal

Finance

Risk Management

Compliance

Treasury

Credit Assessment

Corporate Banking

Retail Banking

Operations

Customer Relations

Relevant Roles

Chief Financial Officer

Finance Manager

Legal Counsel

Risk Manager

Credit Officer

Loan Officer

Compliance Officer

Treasury Manager

Account Manager

Financial Controller

Business Development Manager

Corporate Secretary

Banking Relations Manager

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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