The Property Damage Release Form is a crucial legal document used in Indonesia when settling claims related to property damage incidents. It is designed to comply with Indonesian Civil Code requirements and property law regulations, providing a formal mechanism for resolving property damage disputes through documented settlement. This document is typically used when parties have reached an agreement regarding compensation for property damage and wish to formally conclude the matter, preventing future claims related to the same incident. The form includes essential elements such as party identification, damage description, settlement terms, and release language, all structured to be legally binding under Indonesian law. It's particularly important in situations involving insurance claims, corporate liability, or significant property damage where formal documentation of settlement and release is necessary for legal and financial protection.
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Key Requirements PROMPT example:
Property Damage Release Form
"I need a Property Damage Release Form under Indonesian law for a commercial warehouse incident occurring on January 15, 2025, where water damage affected inventory worth IDR 500 million, with settlement to be paid by insurance company PT Asuransi Sejahtera."
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1. Parties: Identification of all parties involved - the releasor (party who suffered property damage) and releasee (party being released from liability), including full legal names, addresses, and any relevant identification numbers
2. Background: Brief description of the incident causing property damage, including date, location, and nature of damage
3. Definitions: Key terms used in the agreement including 'Property', 'Damage', 'Release', 'Settlement Amount', and other relevant terms
4. Details of Property Damage: Comprehensive description of the damaged property and extent of damage
5. Settlement Amount: Statement of the agreed compensation amount and payment terms
6. Release Clause: Core release language stating that the releasor releases the releasee from all claims related to the incident
7. Finality of Settlement: Confirmation that this settlement is final and binding
8. Governing Law: Specification that Indonesian law governs the agreement
9. Execution: Signature blocks, witness requirements, and date of execution
1. Partial Payment Terms: Used when settlement amount is to be paid in installments, specifying payment schedule and conditions
2. Confidentiality: Added when parties wish to keep the settlement terms private
3. Insurance Claims: Required when insurance companies are involved in the settlement
4. Future Repairs: Included when there are agreements about future repairs or remediation work
5. Non-Admission of Liability: Optional clause stating that settlement does not constitute admission of fault
6. Reversal Conditions: Specifies any conditions under which the release might be voided
1. Schedule A - Property Damage Documentation: Photographs, repair estimates, and detailed description of property damage
2. Schedule B - Payment Details: Breakdown of settlement amount, payment method, and banking details if applicable
3. Schedule C - Property Ownership Evidence: Copies of property ownership documents or registration certificates
4. Appendix 1 - Incident Report: Official reports or documentation of the incident causing damage
5. Appendix 2 - Expert Assessment: Professional assessment reports of damage and repair costs if applicable
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Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Insurance
Construction
Manufacturing
Retail
Hospitality
Logistics and Transportation
Facilities Management
Property Development
Commercial Leasing
Public Sector
Industrial
Residential Property Management
Relevant Teams
Legal
Risk Management
Facilities Management
Property Administration
Claims Processing
Compliance
Operations
Asset Management
Insurance
Maintenance
Real Estate Operations
Relevant Roles
Risk Manager
Property Manager
Legal Counsel
Claims Adjuster
Facility Manager
Insurance Agent
Real Estate Manager
Corporate Lawyer
Compliance Officer
Operations Manager
Asset Manager
Property Administrator
Building Superintendent
Maintenance Supervisor
Safety Officer
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