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Escrow Deposit Agreement

Escrow Deposit Agreement Template for Indonesia

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Key Requirements PROMPT example:

Escrow Deposit Agreement

"I need an Escrow Deposit Agreement for a real estate transaction in Jakarta, where the deposit amount is 5 billion Rupiah and needs to be held by Bank Mandiri as the escrow agent until property transfer completion in March 2025."

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Document background
The Escrow Deposit Agreement is a crucial document used in Indonesian business transactions where secure third-party fund holding is required. It is commonly utilized in various scenarios including real estate purchases, corporate acquisitions, project financing, and international trade transactions. The agreement must comply with Indonesian banking regulations, particularly those set by Bank Indonesia and the Financial Services Authority (OJK). This document establishes the trilateral relationship between the depositor, beneficiary, and escrow agent, detailing the conditions for fund deposit and release, account management procedures, and regulatory compliance requirements. The agreement is especially important in the Indonesian context where secure payment mechanisms are essential for large transactions, and specific regulatory requirements must be met for financial services and anti-money laundering compliance.
Suggested Sections

1. Parties: Identifies and provides details of the Depositor, Beneficiary, and Escrow Agent

2. Background: Explains the context and purpose of the escrow arrangement

3. Definitions: Defines key terms used throughout the agreement

4. Appointment of Escrow Agent: Formal appointment and acceptance of the escrow agent's role

5. Deposit of Funds: Details of the escrow amount, payment method, and timing

6. Escrow Account Management: Requirements for maintaining and managing the escrow account

7. Release Conditions: Specific conditions that must be met for the release of escrow funds

8. Release Mechanics: Procedures for requesting and executing the release of funds

9. Escrow Agent's Rights and Obligations: Detailed responsibilities and authorities of the escrow agent

10. Fees and Expenses: Escrow agent's fees and allocation of costs

11. Representations and Warranties: Standard representations by all parties

12. Liability and Indemnification: Limitations of liability and indemnification provisions

13. Term and Termination: Duration of the agreement and termination provisions

14. Governing Law and Dispute Resolution: Choice of law and dispute resolution procedures

15. General Provisions: Standard boilerplate clauses including notices, amendments, and assignment

Optional Sections

1. Anti-Money Laundering Compliance: Required when dealing with large sums or international transfers, detailing AML compliance requirements

2. Electronic Communications: Include when parties agree to use electronic means for notifications and documents

3. Multiple Deposits: Required when the arrangement involves multiple deposit transactions

4. Interest Earnings: Include when parties agree to earn and distribute interest on the escrow funds

5. Foreign Currency Provisions: Required when the escrow involves non-Indonesian Rupiah currencies

6. Sub-Agents: Include when the escrow agent may need to appoint sub-agents

7. Force Majeure: Optional clause for circumstances preventing performance

Suggested Schedules

1. Schedule 1 - Fee Schedule: Detailed breakdown of all fees and charges

2. Schedule 2 - Release Instructions Form: Standard form for requesting release of funds

3. Schedule 3 - Authorized Signatories: List of authorized persons who can give instructions

4. Schedule 4 - KYC Requirements: Required documentation for Know Your Customer compliance

5. Schedule 5 - Account Details: Banking information for the escrow account and party accounts

6. Appendix A - Release Conditions Documentation: Forms and requirements for evidencing release conditions

7. Appendix B - Communication Protocols: Procedures for notices and communications between parties

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions



































Clauses






























Relevant Industries

Banking and Financial Services

Real Estate and Property Development

Corporate Mergers and Acquisitions

International Trade

Construction and Infrastructure

Technology and Software

Manufacturing

Energy and Natural Resources

Retail and E-commerce

Professional Services

Relevant Teams

Legal

Finance

Compliance

Treasury

Risk Management

Corporate Secretariat

Business Development

Operations

Project Management

Mergers and Acquisitions

Relevant Roles

Chief Financial Officer

Legal Counsel

Compliance Officer

Treasury Manager

Financial Controller

Business Development Manager

Contract Manager

Risk Manager

Corporate Secretary

Transaction Manager

Escrow Officer

Banking Relationship Manager

Project Finance Manager

Real Estate Manager

M&A Director

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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