The Deed of Assignment of Debt is a crucial legal instrument in Indonesian commercial practice, used when one party wishes to transfer its rights as a creditor to another party. This document is particularly relevant in debt trading, corporate restructuring, or portfolio sales scenarios. The deed must comply with Indonesian Civil Code requirements and typically requires notarization to ensure legal validity. It comprehensively documents the assignment terms, including the debt details, consideration, warranties, and completion requirements. The document becomes especially important in the context of Indonesian financial regulations when the assignment involves regulated entities such as banks or financial institutions. The deed serves as the primary evidence of the transfer and is essential for the assignee to enforce their rights against the debtor.
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1. Parties: Identification of the Assignor (current creditor), Assignee (new creditor), and Debtor
2. Background: Context of the original debt, reason for assignment, and confirmation of the debt's existence
3. Definitions: Definitions of key terms used throughout the deed
4. Details of Debt: Specific description of the debt being assigned, including amount, interest, and payment terms
5. Assignment: Express terms of the assignment and transfer of rights from Assignor to Assignee
6. Consideration: Details of the payment or consideration for the assignment
7. Representations and Warranties: Assignor's warranties regarding ownership, right to assign, and status of the debt
8. Completion: Conditions for and timing of the completion of the assignment
9. Notice and Acknowledgment: Provisions regarding notification to and acknowledgment by the Debtor
10. Further Assurance: Obligations to execute further documents or take additional steps if needed
11. Governing Law: Confirmation of Indonesian law as governing law and jurisdiction provisions
1. Security Assignment: Required when the debt is secured by collateral or guarantees
2. Tax Provisions: Include when there are specific tax implications that need to be addressed
3. Regulatory Compliance: Required when the assignment involves regulated entities or requires regulatory approvals
4. Foreign Exchange Provisions: Include when the debt is denominated in foreign currency
5. Costs and Expenses: Optional section detailing who bears the costs of the assignment
6. Partial Assignment: Required when only part of the debt is being assigned
7. Confidentiality: Include when sensitive commercial information needs protection
1. Schedule 1 - Details of Original Debt Agreement: Copy or details of the original debt agreement being assigned
2. Schedule 2 - Calculation of Debt: Detailed breakdown of the principal, interest, and other amounts comprising the debt
3. Schedule 3 - Form of Notice to Debtor: Template of formal notice to be sent to the Debtor regarding the assignment
4. Schedule 4 - Security Documents: List and copies of any security documents related to the debt
5. Schedule 5 - Completion Requirements: Checklist of documents and actions required for completion
6. Appendix A - Power of Attorney: If required, form of power of attorney for executing additional documents
7. Appendix B - Corporate Authorizations: Copies of relevant corporate approvals and authorizations
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