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The Option To Purchase Agreement is a crucial document in Indonesian property transactions, providing a structured framework for potential property acquisitions while protecting both parties' interests. It is commonly used when a buyer needs time to arrange financing, conduct due diligence, or secure necessary approvals before committing to a purchase. The agreement must navigate Indonesian legal requirements, including the Civil Code, Basic Agrarian Law, and foreign investment regulations if applicable. It typically includes comprehensive property details, option period specifications, exercise procedures, and payment terms. This document is particularly important in commercial real estate transactions, development projects, and strategic property acquisitions, requiring careful consideration of local property laws and transfer procedures.

1. Parties: Identification of the Option Grantor and Option Holder, including complete legal names, addresses, and registration details if companies

2. Background: Context of the agreement, relationship between parties, and brief description of the property and transaction purpose

3. Definitions: Definitions of key terms used throughout the agreement, including Property, Option Period, Purchase Price, and Exercise Notice

4. Grant of Option: Clear statement of the option grant, specifying the exclusive right to purchase the property under stated terms

5. Option Period: Duration of the option, including start and end dates, and any extension provisions

6. Option Fee: Amount of option fee, payment terms, and whether it's refundable or applied to purchase price

7. Exercise of Option: Procedure for exercising the option, including notice requirements and timeframes

8. Purchase Price: Agreed purchase price for the property and payment terms if option is exercised

9. Property Details: Comprehensive description of the property, including legal title details and certification

10. Representations and Warranties: Statements regarding property ownership, authority to sell, and condition of property

11. Completion: Procedures and requirements for completing the sale after option exercise

12. Default and Termination: Consequences of default by either party and termination provisions

13. Governing Law: Specification of Indonesian law as governing law and jurisdiction details

14. General Provisions: Standard provisions including notices, amendments, and entire agreement clause