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Affidavit and Indemnity Agreement
I need an affidavit and indemnity agreement for a property transaction, ensuring that the seller affirms ownership and agrees to indemnify the buyer against any future claims or disputes related to the property's title. The document should include a clause for legal recourse in Indonesia and be notarized for validity.
What is an Affidavit and Indemnity Agreement?
An Affidavit and Indemnity Agreement combines two important legal tools under Indonesian civil law. The affidavit part is your sworn statement of facts, while the indemnity portion promises to protect another party from potential losses or legal claims related to those facts.
Indonesian businesses and individuals commonly use these agreements when dealing with lost documents, property transfers, or succession matters. The agreement must be signed before a notary (PPAT) and carries serious legal weight - making false statements can result in criminal penalties under Article 242 of the Indonesian Criminal Code. Banks, insurance companies, and property developers often require these agreements to manage their risks in major transactions.
When should you use an Affidavit and Indemnity Agreement?
You need an Affidavit and Indemnity Agreement when dealing with situations involving missing or damaged documents, especially in Indonesian banking and property transactions. Common scenarios include lost share certificates, misplaced land titles, or damaged insurance policies where you must both declare the circumstances and protect other parties from potential claims.
Indonesian businesses often require these agreements during corporate restructuring, inheritance proceedings, or when transferring assets. They're particularly valuable when dealing with government agencies, financial institutions, or in situations where documentary proof is incomplete. The agreement helps move transactions forward while providing legal protection to all parties involved through sworn statements and indemnification commitments.
What are the different types of Affidavit and Indemnity Agreement?
- Standard Property Transaction: Used when dealing with lost land certificates or property titles, requiring detailed descriptions of the missing documents and specific indemnification for the property's value
- Corporate Share Transfer: Focuses on protecting companies during share transfers with missing certificates, including specific clauses about ownership history and corporate liabilities
- Banking Document Replacement: Tailored for lost banking instruments or certificates, with enhanced fraud prevention clauses and specific bank compliance requirements
- Insurance Claim Protection: Designed for insurance-related matters, featuring detailed loss circumstances and coverage-specific indemnification terms
- Inheritance Documentation: Specialized version for handling missing inheritance documents, incorporating family relationship declarations and asset distribution details
Who should typically use an Affidavit and Indemnity Agreement?
- Financial Institutions: Banks and insurance companies require these agreements when processing claims for lost certificates or updating ownership records
- Property Developers: Use them during land acquisitions and development projects to protect against title disputes
- Corporate Secretaries: Draft and maintain these agreements for company record-keeping and shareholder matters
- Notaries (PPAT): Authenticate and witness these agreements, ensuring legal compliance under Indonesian law
- Individual Property Owners: Sign these when dealing with lost certificates or transferring property rights
- Legal Counsel: Review and customize agreements to protect their clients' interests in various transactions
How do you write an Affidavit and Indemnity Agreement?
- Document Details: Gather all information about the lost or damaged document, including reference numbers, dates, and issuing authority
- Factual Background: Write a clear chronology explaining how the document was lost or damaged
- Identity Verification: Prepare KTP (ID card) copies and supporting documents proving your authority to make declarations
- Asset Information: Collect detailed descriptions of any property or assets involved, including certificates and ownership history
- Indemnity Value: Calculate the financial coverage needed to protect other parties from potential claims
- Notary Appointment: Schedule a meeting with a licensed Indonesian notary (PPAT) for document execution and authentication
What should be included in an Affidavit and Indemnity Agreement?
- Opening Declaration: Formal statement identifying parties and their legal capacity under Indonesian law
- Factual Statement: Detailed description of circumstances, sworn under oath with criminal liability warning
- Indemnification Clause: Clear terms outlining protection scope and financial compensation limits
- Supporting Documents: List of attached evidence and relevant certificates as appendices
- Governing Law: Explicit reference to Indonesian Civil Code and relevant regulations
- Notarization Block: Space for PPAT certification and official stamp
- Witness Provisions: Names and signatures of required witnesses per Indonesian notarial requirements
- Execution Details: Date, location, and formal signatures of all parties
What's the difference between an Affidavit and Indemnity Agreement and an Affidavit?
An Affidavit and Indemnity Agreement differs significantly from a simple Affidavit in both scope and legal protection. While both documents involve sworn statements, their purposes and implications vary considerably under Indonesian law.
- Legal Protection Scope: Affidavit and Indemnity Agreements provide both a sworn statement and financial protection for other parties, while a simple Affidavit only declares facts without offering compensation guarantees
- Document Structure: Affidavits contain only sworn statements, but Affidavit and Indemnity Agreements include additional sections on compensation terms, liability limits, and protection mechanisms
- Usage Context: Simple Affidavits work for basic fact declarations, while Affidavit and Indemnity Agreements are essential for situations involving potential financial risks or lost documents
- Notarization Requirements: Both need notarization, but Affidavit and Indemnity Agreements often require additional witnesses and more extensive PPAT verification due to their financial implications
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