Document background
An Asset Purchase Agreement is essential for transactions involving the transfer of specific assets in Indonesia. This document is typically used when a buyer wishes to acquire particular assets rather than shares in a company, allowing for selective acquisition of desired assets while leaving liabilities with the seller unless specifically assumed. The agreement must comply with Indonesian legal requirements, including the Civil Code (Kitab Undang-undang Hukum Perdata) and relevant regulatory frameworks. It's particularly important when the transaction involves regulated assets, requires governmental approvals, or includes land rights under the Basic Agrarian Law. The document should be drafted in both Indonesian and English languages if involving foreign parties, with the Indonesian version prevailing in case of inconsistencies. Special attention must be paid to tax implications, asset registration requirements, and any sector-specific regulations that may affect the transfer.
