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The Earnest Money Agreement is a crucial document in Indonesian property transactions, used when a potential buyer wishes to secure their interest in a property while finalizing the full purchase agreement. It demonstrates the buyer's good faith intention to complete the purchase by providing a deposit (uang tanda jadi) and protects both parties during the transaction process. This document is essential in both commercial and residential property transactions in Indonesia, particularly when there needs to be a formal commitment period between initial agreement and final sale. The agreement must comply with Indonesian Civil Code requirements and typically includes specific provisions for payment terms, conditions for proceeding to sale, and circumstances for deposit refund or forfeiture. It serves as a bridging document between initial property negotiations and the final sale agreement.

1. Parties: Identification and details of the buyer and seller, including complete legal names, addresses, and any relevant registration numbers

2. Background: Context of the transaction, including brief description of the property and parties' intention to enter into a sale and purchase agreement

3. Definitions: Key terms used throughout the agreement, including 'Earnest Money', 'Property', 'Completion Date', etc.

4. Property Details: Comprehensive description of the property including address, land certificate details, and property specifications

5. Earnest Money Amount: Specification of the earnest money amount, payment method, and timing

6. Payment Terms: Details of how and when the earnest money will be paid, including bank account details and payment confirmation process

7. Conditions for Completion: Requirements that must be met for the transaction to proceed to final sale

8. Rights and Obligations: Specific responsibilities and rights of both parties during the earnest money period

9. Term and Termination: Duration of the agreement and circumstances under which it can be terminated

10. Consequences of Default: What happens if either party fails to fulfill their obligations, including forfeiture conditions

11. Governing Law: Specification that Indonesian law governs the agreement

12. Dispute Resolution: Process for resolving any disputes that may arise

13. Notices: How formal communications between parties should be made and delivered

14. Execution: Signature blocks and execution requirements