The Conditional Waiver is a strategic legal instrument used in Indonesian business and commercial transactions when parties need to formally relinquish certain rights but want to ensure specific conditions are met before the waiver takes effect. This document type is particularly valuable in complex commercial arrangements where the timing and circumstances of the waiver are crucial. The Conditional Waiver must comply with Indonesian legal requirements, including the Indonesian Civil Code (KUHPerdata) provisions on conditional obligations and contract formation. It typically includes detailed specifications of the rights being waived, explicit conditions that must be satisfied, and mechanisms for verifying condition fulfillment. The document is commonly used in scenarios involving debt restructuring, construction projects, corporate transactions, and dispute resolution, where staged or conditional releases of rights are necessary for business objectives.
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1. Parties: Identification of the party granting the waiver (waiving party) and the party receiving the benefit of the waiver (beneficiary), including full legal names and addresses
2. Background: Context of the waiver, including reference to the original agreement or circumstances giving rise to the rights being waived
3. Definitions: Key terms used in the waiver document, particularly defining the rights being waived and any conditions
4. Rights Being Waived: Clear and specific description of the rights, claims, or obligations that are being waived
5. Conditions: Explicit listing of all conditions that must be satisfied for the waiver to become effective
6. Effective Date: Specification of when the waiver becomes effective, particularly in relation to the satisfaction of conditions
7. Representations and Warranties: Basic representations regarding authority to grant the waiver and understanding of its implications
8. Governing Law: Confirmation of Indonesian law as the governing law and jurisdiction
1. Consideration: Details of any consideration provided in exchange for the waiver, if applicable
2. Reservation of Rights: Statement of any rights specifically reserved and not waived, used when partial waiver is intended
3. Time Limit: Include when the waiver needs to have an expiration date or time limit for conditions to be met
4. Notices: Include when specific notification requirements are needed for confirming condition satisfaction
5. Severability: Include when document is complex enough to warrant standard boilerplate provisions
6. Language Compliance: Required when document needs to be bilingual as per Law No. 24 of 2009
1. Schedule 1 - Details of Original Agreement: Copy or extract of relevant portions of the original agreement relating to the waived rights
2. Schedule 2 - Conditions Precedent Checklist: Detailed list of conditions and their satisfaction requirements
3. Schedule 3 - Form of Condition Satisfaction Notice: Template for formally notifying that conditions have been met
4. Appendix A - Supporting Documents: Any relevant supporting documents evidencing the context or basis for the waiver
Relevant legal definitions
Clauses
Relevant Industries
Construction
Real Estate
Banking and Finance
Manufacturing
Energy and Resources
Infrastructure
Technology
Telecommunications
Mining
Oil and Gas
Transportation and Logistics
Retail and Consumer Goods
Healthcare
Relevant Teams
Legal
Compliance
Commercial
Risk Management
Operations
Corporate Affairs
Finance
Business Development
Project Management
Contracts Administration
Relevant Roles
Legal Counsel
Contract Manager
Project Manager
Chief Legal Officer
Commercial Director
Risk Manager
Compliance Officer
Business Development Manager
Corporate Secretary
Chief Financial Officer
Operations Director
Transaction Manager
General Manager
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