The Settlement Agreement Contract is a crucial legal document used in Indonesian jurisdiction when parties wish to formally resolve and conclude a dispute without proceeding to or continuing with litigation. This document type is particularly relevant when parties have reached a mutual understanding to settle their differences, whether through direct negotiation, mediation, or other forms of alternative dispute resolution. The agreement must comply with Articles 1851-1864 of the Indonesian Civil Code (KUHPerdata) and may require notarization for enhanced legal standing. It typically includes detailed settlement terms, payment arrangements, mutual releases, confidentiality provisions, and specific actions required from each party. The document is especially important in commercial disputes, employment matters, insurance claims, and other civil disputes where parties seek a definitive and binding resolution.
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1. Parties: Identification of all parties involved in the settlement, including their legal names, addresses, and registration details if companies
2. Background: Recitals explaining the dispute's context, any prior legal proceedings, and the parties' intention to settle
3. Definitions: Key terms used throughout the agreement defined for clarity and consistency
4. Settlement Terms: Core settlement provisions including payment terms, actions to be taken, and timelines
5. Release and Waiver: Mutual release of claims and waiver of rights related to the dispute
6. Confidentiality: Provisions regarding the confidentiality of the settlement terms and related information
7. Tax Implications: Statement on responsibility for any tax consequences arising from the settlement
8. Representations and Warranties: Statements confirming parties' authority to enter agreement and other key assurances
9. Governing Law and Jurisdiction: Specification of Indonesian law as governing law and jurisdiction for disputes
10. General Provisions: Standard boilerplate clauses including severability, entire agreement, and amendments
1. Non-Disparagement: Used when parties wish to prevent negative statements about each other post-settlement
2. Future Cooperation: Include when parties need to maintain business relationship after settlement
3. Insurance and Indemnification: Relevant when settlement involves ongoing risks or insurance claims
4. Regulatory Compliance: Required when settlement touches regulated industries or requires regulatory approvals
5. Public Announcements: Include for high-profile cases or when public disclosure needs management
6. Implementation Schedule: Used when settlement requires complex or phased implementation
1. Schedule A - Payment Terms: Detailed breakdown of settlement amounts, payment schedules, and payment methods
2. Schedule B - Release Documentation: Forms and templates for formal release of claims
3. Schedule C - Action Items: List of specific actions to be taken by each party with deadlines
4. Appendix 1 - Related Court Documents: Copies of relevant court filings or orders to be withdrawn
5. Appendix 2 - Corporate Authorizations: Corporate resolutions or powers of attorney authorizing settlement
6. Appendix 3 - Settlement Calculation: Detailed calculations of settlement amounts including interest if applicable
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