The Assignment Of Claim Agreement is a crucial document used in Indonesian business and financial transactions when one party wishes to transfer its rights to receive payment or other performance from a debtor to another party. This document is particularly relevant in debt trading, portfolio sales, corporate restructuring, and financial arrangements. The agreement must comply with Articles 613-624 of the Indonesian Civil Code (KUHPer) regarding assignment of rights (cessie) and consider any relevant financial services regulations. It includes essential details about the claim being assigned, purchase price, warranties, and completion requirements. The document is commonly used in banking, financial services, and general commercial transactions where claims need to be transferred between parties. Special attention must be paid to Indonesian regulatory requirements, including proper notification to the debtor and any necessary registrations or approvals.
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1. Parties: Identifies the Assignor (current creditor), Assignee (new creditor), and where relevant, acknowledgment by the Debtor
2. Background: Explains the context of the original claim and the intention to assign it
3. Definitions: Defines key terms used throughout the agreement, including 'Claim', 'Assignment Date', 'Original Agreement', etc.
4. Object of Assignment: Detailed description of the claim being assigned, including its value, origin, and current status
5. Assignment and Transfer: Core provision effecting the transfer of the claim from Assignor to Assignee
6. Purchase Price and Payment: Specifies the consideration for the assignment and payment terms
7. Representations and Warranties: Assignor's warranties regarding ownership, validity, and status of the claim
8. Completion Requirements: Steps required to complete the assignment, including notification to debtor and documentation
9. Further Assurance: Obligations to execute additional documents or take actions to perfect the assignment
10. Governing Law and Jurisdiction: Specifies Indonesian law as governing law and sets jurisdiction for disputes
1. Security: Include when the assigned claim is secured by collateral or guarantees
2. Tax Provisions: Include when there are specific tax implications or arrangements between parties
3. Currency Provisions: Required for cross-border assignments or when claim is in foreign currency
4. Regulatory Compliance: Include when assignment requires specific regulatory approvals or notifications
5. Default and Remedies: Include when parties want specific remedies for breach of assignment terms
6. Confidentiality: Include when sensitive commercial information is involved
7. Anti-Money Laundering: Include for financial institution assignments or high-value claims
1. Schedule 1 - Details of the Claim: Comprehensive details of the claim including payment history, current balance, and terms
2. Schedule 2 - Original Agreement: Copy of the agreement that gave rise to the claim being assigned
3. Schedule 3 - Related Security Documents: Copies of any security documents, guarantees, or collateral agreements
4. Schedule 4 - Form of Notice to Debtor: Template notification to be sent to debtor regarding the assignment
5. Schedule 5 - Completion Requirements: Checklist of documents and actions required to complete the assignment
6. Appendix A - Power of Attorney: If required, format of power of attorney for executing assignment-related documents
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