The Contract For Vehicle Sale With Payments is essential for transactions where immediate full payment is not feasible or desired. This document is commonly used in Indonesia for both private and commercial vehicle sales, structured in compliance with Indonesian Civil Code (KUHPerdata) and relevant transportation and financial services regulations. It provides a legal framework for installment-based vehicle purchases, protecting both seller and buyer interests through detailed payment terms, ownership conditions, and security arrangements. The contract is particularly relevant in today's market where financing options are increasingly common in vehicle purchases. It includes comprehensive provisions for vehicle identification, payment schedules, ownership transfer procedures, maintenance requirements, and default remedies, all aligned with Indonesian legal requirements and market practices.
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1. Parties: Identification of the seller and buyer with complete legal names, addresses, and identification numbers
2. Background: Context of the sale and brief description of the transaction
3. Definitions: Definitions of key terms used throughout the agreement
4. Vehicle Details: Comprehensive description of the vehicle including make, model, year, color, engine number, chassis number, and registration details
5. Purchase Price: Total purchase price, payment structure, and installment details
6. Payment Terms: Schedule of payments, including down payment, installment amounts, due dates, and payment methods
7. Transfer of Ownership: Conditions and process for the transfer of vehicle ownership
8. Seller's Representations: Warranties about vehicle condition, ownership, and absence of encumbrances
9. Buyer's Obligations: Responsibilities regarding payments, insurance, maintenance, and usage restrictions
10. Default and Remedies: Consequences of payment default and available legal remedies
11. Insurance Requirements: Mandatory insurance coverage and responsibility for premiums
12. Governing Law: Specification of Indonesian law as governing law and jurisdiction
13. Execution: Signature blocks and execution requirements
1. Vehicle Maintenance: Specific maintenance requirements if the seller requires certain standards during the payment period
2. Early Payment Provisions: Terms for early payment of the total amount and any applicable discounts
3. Security Interest: Details of fiduciary security registration if required for the payment arrangement
4. Third-Party Guarantor: Include when a guarantor is involved in securing the payments
5. Usage Restrictions: Any specific restrictions on vehicle use during the payment period
6. Cross-Border Usage: Terms for using the vehicle outside Indonesia if permitted
7. Transfer of Rights: Conditions for transferring the contract to another party if allowed
8. Force Majeure: Provisions for unforeseen circumstances affecting payment ability
1. Schedule A - Vehicle Specification: Detailed technical specifications and features of the vehicle
2. Schedule B - Payment Schedule: Detailed breakdown of all payments, dates, and amounts
3. Schedule C - Vehicle Condition Report: Assessment of vehicle condition at time of sale
4. Schedule D - Required Insurance Coverage: Specific insurance requirements and minimum coverage
5. Appendix 1 - Vehicle Documentation: Copies of vehicle registration, tax receipts, and other relevant documents
6. Appendix 2 - Maintenance History: Record of vehicle's maintenance and service history
7. Appendix 3 - Payment Records: Template for recording payments made and balance remaining
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