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The Contract For Personal Loan is a crucial legal document used in Indonesian lending transactions where an individual seeks to borrow money from a financial institution or licensed lender. This document is essential for compliance with Indonesian banking regulations and the Civil Code (KUHPerdata), particularly in relation to consumer lending. It should be used whenever a formal personal loan is extended in Indonesia, whether for personal consumption, education, or other legitimate purposes. The contract includes mandatory provisions required by the Financial Services Authority (OJK), covers interest calculations, repayment schedules, and default procedures, and must be drafted in Bahasa Indonesia with an English version optional. This document type is particularly relevant given Indonesia's growing consumer finance sector and the need for standardized, compliant lending documentation.

1. Parties: Identification of the lender and borrower with complete legal names and addresses

2. Background: Context of the loan agreement and the parties' intention to enter into a lending arrangement

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

4. Loan Amount and Purpose: Specification of the loan amount in Rupiah and the stated purpose of the loan

5. Interest Rate: Clear statement of the interest rate, calculation method, and any adjustments

6. Repayment Terms: Detailed schedule of repayments, including payment amounts, due dates, and payment methods

7. Representations and Warranties: Borrower's confirmations regarding their financial status, legal capacity, and truthfulness of provided information

8. Borrower's Obligations: Ongoing obligations of the borrower during the loan term

9. Events of Default: Circumstances constituting default and consequences thereof

10. Remedies: Lender's rights and remedies in case of default

11. Notices: Process for formal communications between parties

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

13. Execution: Signature blocks and execution requirements