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Deferment Agreement
"I need a Deferment Agreement under Indonesian law for a corporate loan of IDR 5 billion, where the borrower needs to defer monthly installments starting from January 2025 for a 6-month period, with an increased interest rate of 2% during the deferment period."
1. Parties: Identification of the creditor and debtor, including their full legal names, addresses, and authorized representatives
2. Background: Recitals explaining the original debt obligation, reason for deferment, and parties' intention to modify payment terms
3. Definitions: Definitions of key terms used in the agreement, including reference to original agreement terms
4. Original Debt Acknowledgment: Confirmation of the existing debt amount and reference to the original agreement
5. Deferment Terms: Specific terms of the deferment including new payment dates and any conditions
6. Payment Schedule: Details of the revised payment schedule including amounts and due dates
7. Interest and Charges: Specification of any interest or additional charges applicable during the deferment period
8. Representations and Warranties: Statements of fact and assurances from both parties
9. Default and Remedies: Consequences of failing to meet the deferred payment obligations
10. Continuing Obligations: Confirmation of which original agreement terms remain in force
11. Governing Law: Specification of Indonesian law as governing law
12. Dispute Resolution: Procedures for resolving any disputes arising from the agreement
13. Notices: How formal communications between parties should be made
14. Execution: Signature blocks and execution requirements
1. Additional Security: Required when new security or collateral is being provided as part of the deferment arrangement
2. Guarantor Provisions: Needed when a third party is guaranteeing the deferred payments
3. Special Conditions: Used when specific conditions must be met before or during the deferment period
4. Financial Covenants: Include when ongoing financial requirements are imposed on the debtor
5. Regulatory Compliance: Required when the deferment needs specific regulatory approvals or compliance
6. Tax Provisions: Include when there are specific tax implications that need to be addressed
7. Force Majeure: Optional section addressing circumstances beyond parties' control affecting payment ability
1. Schedule 1 - Original Agreement: Copy of the original agreement being deferred
2. Schedule 2 - Detailed Payment Schedule: Comprehensive breakdown of all deferred payments including dates and amounts
3. Schedule 3 - Current Debt Statement: Statement showing current outstanding debt amount and calculation
4. Schedule 4 - Security Documents: Copies of any security documents if additional security is provided
5. Schedule 5 - Required Approvals: Copies of any required regulatory or corporate approvals
6. Appendix A - Calculation of Interest: Detailed explanation of interest calculations during deferment period
7. Appendix B - Forms of Notice: Standard forms for various notices required under the agreement
Authors
Banking & Financial Services
Real Estate & Property
Manufacturing
Retail & Consumer Goods
Infrastructure & Construction
Energy & Resources
Technology & Telecommunications
Healthcare
Agriculture
Transportation & Logistics
Professional Services
Hospitality & Tourism
Legal
Finance
Treasury
Credit Control
Risk Management
Compliance
Corporate Secretariat
Debt Recovery
Commercial
Business Development
Senior Management
Chief Financial Officer
Finance Director
Legal Counsel
Corporate Lawyer
Credit Manager
Risk Manager
Treasury Manager
Financial Controller
Debt Recovery Officer
Compliance Officer
Account Manager
Restructuring Manager
Company Secretary
Managing Director
Commercial Director
Business Development Manager
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