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Assignment Of Security Agreement Template for Indonesia

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Key Requirements PROMPT example:

Assignment Of Security Agreement

"I need an Assignment of Security Agreement under Indonesian law to transfer a fiduciary security interest over manufacturing equipment from PT Bank Central to PT Finance Corp, with the assignment to take effect from March 15, 2025."

Document background
The Assignment Of Security Agreement is a critical document used in Indonesian commercial and financial transactions when there is a need to transfer security interests from one party to another. This typically occurs during loan portfolio sales, corporate restructuring, refinancing arrangements, or when there are changes in creditor relationships. The document must comply with Indonesian legal requirements, including the Civil Code (KUHPerdata) and specific regulations on security interests. It contains essential provisions regarding the transfer of rights, perfection requirements, registration obligations, and enforcement mechanisms. The agreement is particularly important in ensuring continuity of security interests while maintaining compliance with Indonesian regulatory requirements for different types of collateral, including both movable and immovable assets.
Suggested Sections

1. Parties: Identification of the Assignor (original security holder), Assignee (new security holder), and Obligor (the party who granted the original security)

2. Background: Recitals explaining the original security agreement, reason for assignment, and context of the transaction

3. Definitions: Definitions of key terms used in the agreement, including reference to the original security agreement and related documents

4. Assignment: Core provision detailing the transfer of rights and obligations under the security agreement

5. Consideration: Details of payment or other consideration for the assignment

6. Representations and Warranties: Statements by the Assignor regarding their authority to assign, validity of security interest, and absence of encumbrances

7. Perfection Requirements: Steps required to perfect the assignment, including registration and notice requirements under Indonesian law

8. Obligations and Undertakings: Ongoing obligations of parties, including cooperation in registration and documentation

9. Costs and Expenses: Allocation of costs related to the assignment and registration

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

11. Execution: Signature blocks and execution requirements

Optional Sections

1. Conditions Precedent: Used when the assignment is subject to certain conditions being met before becoming effective

2. Further Assurance: Include when additional documentation or actions may be needed after signing

3. Tax Provisions: Required when there are specific tax implications that need to be addressed

4. Partial Assignment: Include when only part of the security interest is being assigned

5. Notice Requirements: Detailed provisions for notifying third parties, used when specific notice requirements apply

6. Power of Attorney: Include when the Assignee needs authority to complete registration or other formalities

7. Indemnification: Used when specific indemnities are required beyond standard representations and warranties

Suggested Schedules

1. Original Security Agreement: Copy or details of the security agreement being assigned

2. Secured Assets Schedule: Detailed list of assets covered by the security interest

3. Form of Notice: Template for notices to be sent to relevant parties regarding the assignment

4. Registration Requirements: Checklist of registration requirements and forms for different types of security interests

5. Outstanding Amounts: Details of any outstanding secured obligations as of the assignment date

6. Required Consents: List of required third-party consents and their status

7. Power of Attorney Form: Form of power of attorney for registration purposes when required

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

Relevant legal definitions















































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Relevant Industries

Banking and Financial Services

Real Estate and Property Development

Manufacturing

Mining and Natural Resources

Infrastructure Development

Energy and Utilities

Telecommunications

Agriculture and Plantation

Transportation and Logistics

Construction

Industrial Production

Commercial Trading

Relevant Teams

Legal

Finance

Corporate Secretarial

Risk Management

Compliance

Credit Administration

Banking Operations

Security Administration

Portfolio Management

Transaction Management

Relevant Roles

Legal Counsel

Corporate Lawyer

Finance Director

Chief Financial Officer

Credit Manager

Risk Manager

Compliance Officer

Security Trustee

Transaction Manager

Corporate Secretary

Legal Manager

Banking Operations Manager

Loan Officer

Security Administrator

Portfolio 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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