Cash Deposit Agreement

Cash Deposit Agreement Template for Indonesia

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Key Requirements PROMPT example:

"I need a Cash Deposit Agreement under Indonesian law for a corporate client planning to deposit USD 5 million for a 12-month fixed term starting January 2025, with quarterly interest payments and early withdrawal penalties."

Document background

The Cash Deposit Agreement serves as the primary contractual document between a bank and its depositors in Indonesia, establishing the legal framework for depositing funds. This document is essential when opening new deposit accounts or establishing term deposits, whether for individual or corporate customers. It must comply with Indonesian banking regulations, including Law No. 7 of 1992 on Banking (as amended), OJK regulations, and anti-money laundering requirements. The agreement includes critical information such as interest rates, term duration, withdrawal conditions, and account operation procedures. For Islamic banking institutions, the agreement can be modified to comply with Shariah principles under Law No. 21 of 2008 on Islamic Banking. The document provides protection for both the bank and depositor while ensuring transparency in the banking relationship.

Suggested Sections

1. Parties: Identification of the depositor and the bank, including registration details and addresses

2. Background: Context of the agreement and relationship between the parties

3. Definitions: Definitions of key terms used throughout the agreement

4. Deposit Terms: Details of the deposit amount, currency, and term duration

5. Interest Rate and Calculation: Specification of interest rate, calculation method, and payment frequency

6. Account Operation: Rules and procedures for operating the deposit account

7. Rights and Obligations: Detailed responsibilities and rights of both the depositor and the bank

8. Representations and Warranties: Statements of fact and assurances from both parties

9. Anti-Money Laundering Compliance: Provisions ensuring compliance with AML regulations

10. Confidentiality: Protection of confidential information and banking secrecy requirements

11. Term and Termination: Duration of agreement and conditions for early termination

12. Governing Law and Jurisdiction: Specification of Indonesian law and relevant jurisdiction

13. Notices: Process and requirements for formal communications between parties

14. Miscellaneous: Standard boilerplate provisions including severability, entire agreement, etc.

Optional Sections

1. Shariah Compliance: Required if the deposit follows Islamic banking principles, specifying compliance with Shariah principles

2. Electronic Banking Services: Include if online banking access or electronic services are part of the deposit arrangement

3. Tax Provisions: Detailed tax implications and withholding requirements, if applicable

4. Foreign Currency Provisions: Required for foreign currency deposits, addressing exchange rate risks and conversions

5. Insurance Coverage: Details of deposit insurance coverage, if applicable

6. Joint Account Provisions: Required for joint deposit accounts, specifying operational rules and survivor rights

7. Force Majeure: Provisions for unforeseen circumstances affecting the agreement

Suggested Schedules

1. Schedule 1 - Deposit Details: Specific details of the deposit including amount, term, and interest rate

2. Schedule 2 - Fee Schedule: List of applicable fees and charges

3. Schedule 3 - Interest Rate Schedule: Detailed breakdown of interest rates and calculation methods

4. Schedule 4 - Required Documents: List of KYC and other required documentation

5. Appendix A - Account Opening Form: Standard form for account opening details

6. Appendix B - Specimen Signatures: Authorized signatures for account operation

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok��˰� | 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

Financial Services

Islamic Banking

Corporate Treasury

Retail Banking

Investment Services

Asset Management

Commercial Banking

Private Banking

Relevant Teams

Legal

Compliance

Operations

Treasury

Risk Management

Corporate Banking

Retail Banking

Branch Operations

Finance

Customer Service

Product Development

Regulatory Affairs

Relevant Roles

Legal Counsel

Compliance Officer

Banking Operations Manager

Account Manager

Treasury Manager

Risk Manager

Corporate Banking Officer

Retail Banking Manager

Branch Manager

Financial Controller

Chief Financial Officer

Company Secretary

Relationship Manager

Islamic Banking Specialist

Regulatory Compliance Manager

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Let's create your Cash Deposit Agreement

Authors

Alex Denne

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