The Buy Sell Agreement is a fundamental commercial document used in Indonesian business transactions to formalize the transfer of goods, assets, or properties from a seller to a buyer. This document is essential when parties need to clearly define their rights and obligations in a sale transaction, ensuring compliance with Indonesian law, particularly the Civil Code (KUHPerdata) and trade regulations. The agreement is commonly used across various sectors and can be adapted for both simple and complex transactions, domestic or international. It must be drafted in Indonesian language (with permitted translations) and typically includes comprehensive details about the subject matter of sale, pricing, payment terms, delivery arrangements, warranties, and dispute resolution mechanisms. The document is particularly important for risk management and providing legal certainty in commercial transactions within the Indonesian jurisdiction.
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1. Parties: Identification and details of the seller and buyer, including registration numbers for companies
2. Background: Context of the transaction and relationship between the parties
3. Definitions: Definitions of key terms used throughout the agreement
4. Subject Matter of Sale: Detailed description of the goods or assets being sold
5. Purchase Price: Agreed price and currency for the transaction
6. Payment Terms: Payment schedule, method, and conditions
7. Delivery: Terms and conditions for delivery, including timing and location
8. Title and Risk: Point of transfer of ownership and risk in the goods
9. Warranties: Seller's warranties regarding the goods and general warranties from both parties
10. Inspection and Acceptance: Buyer's rights and procedures for inspecting and accepting the goods
11. Termination: Circumstances under which the agreement can be terminated
12. Governing Law: Confirmation of Indonesian law as governing law
13. Dispute Resolution: Process for resolving disputes, including jurisdiction
14. Language: Clause confirming bilingual format and prevailing language per Law No. 24 of 2009
15. Notices: Process and addresses for formal communications between parties
16. General Provisions: Standard boilerplate clauses including severability, entire agreement, and amendments
1. Conditions Precedent: Use when completion is subject to certain conditions being met first
2. Regulatory Compliance: Include for regulated goods or when specific permits/licenses are required
3. Tax Provisions: Include detailed tax arrangements when transaction has significant tax implications
4. Insurance: Include when specific insurance requirements are needed during transit or storage
5. Intellectual Property: Include when the sale involves IP rights or licenses
6. Confidentiality: Include when transaction involves sensitive information exchange
7. Force Majeure: Include when specific force majeure provisions are needed beyond standard provisions
8. Parent Company Guarantee: Include when additional security is required from a parent company
9. Anti-Corruption: Include for high-value transactions or when dealing with government entities
10. Export/Import Controls: Include for international transactions or controlled goods
1. Schedule 1 - Specification of Goods: Detailed technical specifications of the goods being sold
2. Schedule 2 - Price Breakdown: Detailed breakdown of the purchase price if complex pricing structure
3. Schedule 3 - Delivery Schedule: Detailed delivery timeline and milestones if multiple deliveries
4. Schedule 4 - Form of Acceptance Certificate: Template for formal acceptance of goods
5. Schedule 5 - Required Documents: List of documents required for completion
6. Appendix A - Required Permits and Licenses: Copies of relevant regulatory permits and licenses
7. Appendix B - Quality Standards: Applicable quality standards and testing procedures
8. Appendix C - Warranty Terms: Detailed warranty terms and conditions
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