The Promissory Note Rental Payment is a specialized financial instrument commonly used in Indonesian property rental transactions to provide additional security for rental payment obligations. This document is particularly valuable when landlords require enhanced assurance of payment beyond standard lease agreements, or when structuring payment plans for rental arrears. It combines the legal enforceability of a promissory note under the Indonesian Commercial Code with specific provisions for rental payments, making it an effective tool for property management and rental collection. The document is commonly used in both commercial and residential contexts, providing a clear record of debt acknowledgment and payment terms while offering stronger legal recourse for collection compared to standard rental agreements.
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1. Title and Date: Clear identification of the document as a Promissory Note for Rental Payment and the date of execution
2. Maker Information: Full legal name and address of the person/entity making the promise to pay (tenant)
3. Payee Information: Full legal name and address of the person/entity to whom payment is promised (landlord)
4. Promise to Pay: Unconditional promise to pay with specific amount in words and numbers
5. Payment Terms: Detailed payment schedule, including due dates, installment amounts, and total sum
6. Property Reference: Details of the rental property and reference to the underlying lease agreement
7. Interest and Late Fees: Applicable interest rates and late payment penalties
8. Place of Payment: Specified location or method where payments must be made
9. Signature Block: Space for maker's signature, witness signatures if required, and date
1. Acceleration Clause: Include when immediate payment of all remaining amounts should be triggered upon default
2. Security Details: Include when the note is secured by additional collateral or guarantees
3. Prepayment Terms: Include when early payment options and any associated conditions need to be specified
4. Default Remedies: Include when specific remedies beyond standard legal recourse need to be outlined
5. Transfer Rights: Include when the note needs to be transferable or assignable
6. Joint and Several Liability: Include when multiple makers are involved in the promissory note
1. Payment Schedule: Detailed breakdown of payment dates and amounts if involving multiple installments
2. Copy of Lease Agreement: Attached reference to the underlying lease agreement details
3. Security Documentation: If applicable, documents relating to any collateral or security provided
4. Guarantor Information: If applicable, details and signatures of any guarantors
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