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Amended Settlement Agreement

Amended Settlement Agreement Template for Indonesia

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Amended Settlement Agreement

"I need an Amended Settlement Agreement to modify payment terms with our supplier PT Sentosa Manufacturing, extending the final settlement payment from January 2025 to July 2025, and adding a parent company guarantee from their Japanese parent company."

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Document background
An Amended Settlement Agreement is utilized when parties need to modify the terms of an existing settlement agreement while maintaining its basic framework. This document type is particularly relevant in Indonesia's business environment where changing circumstances, regulatory requirements, or business conditions necessitate adjustments to previously agreed settlements. The agreement must comply with Indonesian law, particularly the Civil Code (KUHPerdata) and Law No. 30 of 1999 regarding Alternative Dispute Resolution. It typically includes detailed references to the original settlement agreement, specific amendments, continuing obligations, and updated terms. The document is commonly used in commercial disputes, corporate restructuring, debt settlements, and various business transactions where parties need to formalize changes to their original settlement terms while ensuring legal validity under Indonesian jurisdiction.
Suggested Sections

1. Parties: Identification of all parties to the amended settlement agreement, including their legal status and addresses

2. Background: Recitals explaining the original settlement agreement, reasons for amendment, and any relevant history of the dispute

3. Definitions: Definitions of key terms used in the agreement, including terms from the original settlement agreement that remain applicable

4. Reference to Original Agreement: Specific reference to the original settlement agreement including its date and parties

5. Amendments: Detailed description of specific amendments to the original settlement agreement, clearly identifying replaced, modified, or added provisions

6. Continuing Effect: Confirmation that non-amended provisions of the original agreement remain in full force and effect

7. Settlement Terms: Updated settlement terms, including any modified payment terms, obligations, or commitments

8. Release and Waiver: Updated provisions regarding mutual release of claims and waiver of rights

9. Representations and Warranties: Updated statements of fact and assurances from each party

10. Governing Law: Confirmation of Indonesian law as governing law and jurisdiction

11. Execution: Signature blocks and execution requirements complying with Indonesian law

Optional Sections

1. Conditions Precedent: Required when certain conditions must be met before the amendments take effect

2. Tax Provisions: Include when the settlement involves significant payment terms or tax implications

3. Confidentiality: When parties wish to maintain confidentiality of the settlement terms and amendments

4. Dispute Resolution: When parties want to modify or specify detailed dispute resolution procedures

5. Language: Required when document is bilingual, specifying which version prevails

6. Corporate Approvals: When any party requires specific corporate or regulatory approvals

7. Third Party Rights: When amendments affect rights of third parties mentioned in original agreement

8. Force Majeure: When parties want to modify or include specific force majeure provisions

Suggested Schedules

1. Original Settlement Agreement: Copy of the original settlement agreement being amended

2. Amendment Matrix: Detailed comparison showing original clauses and their amended versions

3. Payment Schedule: If applicable, updated payment terms and schedules

4. Corporate Authorizations: Copies of relevant corporate approvals or authorizations

5. Supporting Documents: Any additional documents referenced in the amendments

6. Compliance Certificates: If required, certificates confirming compliance with conditions precedent

7. Power of Attorney: If applicable, documents authorizing representatives to sign

Authors

Alex Denne

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

alex.den.21@genieai.co
Relevant legal definitions








































Clauses






























Relevant Industries

Banking and Financial Services

Manufacturing

Real Estate and Construction

Mining and Natural Resources

Technology and Telecommunications

Energy and Utilities

Healthcare and Pharmaceuticals

Retail and Consumer Goods

Transportation and Logistics

Agriculture and Plantation

Insurance

Professional Services

Relevant Teams

Legal

Compliance

Corporate Secretarial

Finance

Risk Management

Corporate Affairs

Business Development

Operations

Treasury

Executive Management

Corporate Governance

Regulatory Affairs

Relevant Roles

Legal Director

Chief Legal Officer

Corporate Secretary

Compliance Officer

Chief Executive Officer

Chief Financial Officer

Risk Manager

General Counsel

Settlement Officer

Dispute Resolution Manager

Corporate Affairs Director

Business Development Director

Contract Manager

Legal Counsel

Company Director

Finance 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, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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