Document background
The Installment Purchase Contract is essential for transactions where goods or assets are purchased through periodic payments rather than a single lump sum. This document type is commonly used in Indonesia for significant purchases such as vehicles, machinery, or equipment, where the buyer agrees to pay the purchase price in predetermined installments over time. The contract must comply with Indonesian law, including the Civil Code (Kitab Undang-undang Hukum Perdata) and relevant OJK regulations governing financing arrangements. It's particularly important for protecting both seller and buyer interests by clearly defining payment terms, ownership transfer conditions, and default remedies. The document includes comprehensive details about the purchase price, payment schedule, interest rates, and the rights and obligations of all parties involved.
