The Function Of The Agreement Letter Is Debt-Receivable, Here Are Examples

Debt-receivable agreement (Freepik)

YOGYAKARTA - For the sake of security and a clear agreement, borrowing and borrowing activities must be carried out with an official agreement letter. Those who provide loans must make a debt agreement which will be signed by the party who makes the loan.

Debt agreement letters in the form of documents used as proof of borrowing by someone. This letter's participation aims to clearly record the party's agreement, both the date, time, and nominal that needs to be paid.

For those of you who want to give a loan to someone, you should first understand what a debt agreement is and its usefulness. This agreement letter is very important to make good when the borrower is someone who is not close, close friends, to family.

According to the Investopedia page, the debt agreement letter is an official document containing written promises from the maker or publisher to the debt recipient. In this agreement, the party who provides the loan is called a creditor and the recipient of the loan is known as a debtor.

Debt agreement letters are included in the realm of property law. Usually, this document includes detailed information about debt, including the terms, as well as rights and obligations that must be fulfilled by both parties.

The right to collect or receivables begins with an agreement made between the giver and the debt recipient. The contents of this agreement must be carried out by both parties with full good faith (good faith).

Based on Article 1338 of the Civil Code (KUH Civil), the agreement in the debt agreement is binding and cannot be unilaterally canceled. Exceptions only apply if there is a new agreement approved by both parties.

"The agreement cannot be withdrawn apart from the agreement between the two parties, or for the reasons stipulated by the law," the regulation reads.

Debt agreement letters can be made with witnesses. Witnesses can be used as evidence of debt and guidance on the implementation of legal agreements for both parties.

However, the position of witnesses is not mandatory, unless a debt agreement is made before a notary. Letters and witnesses can provide strong evidence, if there is a dispute at a later date.

The debt agreement is intended as evidence stating that there is an action, facts, or circumstances in the realm of civil law. The document is subject to stamp duty in accordance with the provisions of Law No. 13 of 1985.

The absence of the seal of the agreement, such as in the sale and purchase agreement, does not necessarily cancel the agreement by law. This only affects the completeness of the letter as evidence in the eyes of the law.

The validity of an agreement is not determined by the existence of the seal, but depends on the fulfillment of the terms stipulated in Article 1320 of the Civil Code, which includes agreements, the skills of the parties, certain objects, and lawful causes.

Here are some examples of debt agreement letters that you can use as references to make them:

Examples of debt agreement letters with guarantees

A LETTER OF AGREEMENT FOR THE DEBT AGREEMENT

Today, Monday 9 December 2024, a debt agreement has been signed between the two parties, namely:

First, the FIRST AND SECOND PARTIES explained that:

Article 1

THE NUMBER OF LOANS

THE FIRST PARTY hereby borrows from the SECOND PARTY Rp20,000,000, - (twenty million rupiah) with a refund of 4 months.

Article 2

SUBMISSION OF LOANS

The second PARTY has handed over the money as a loan amounting to Rp20,000,000, - (twenty million rupiah) in cash and at the same time to the FIRST PARTY at the time this agreement was made and signed and the First PARTY stated that it had accepted it by signing valid receipts (quantations).

Article 3

BUNGA

Article 4

RETURN SYSTEM

THE FIRST PARTY is obliged to repay the debt to the SECOND PARTY by paying installments of Rp. 2,000,000, - (two million rupiah) every month, as of 18th until the refund of Rp. 30,000,000, - (twenty million rupiah).

Article 5

COSTS OF COLLECTION

Article 6

RETURN AT ONCE

Article 7

POWER

Article 8

SETTLEMENT OF THE DISPUTE

Article 9

OTHERS-LAIN

Things that have not or are not sufficient to be regulated in this debt agreement will be further regulated in the form of a correspondence letter and or an agreement addendum signed by the parties who are one of the units or parts that are inseparable from this agreement.

Article 10

CLOSING

This money receivable agreement is made concurrently 2 (two), on paper with sufficient diameter for each party who has the same legal force and is signed by both parties in a physically and mentally healthy condition, and without any element of coercion from any party.

THE FIRST PARTY IS THE SECOND PARTY

(Siska Meulida) (Roban Hermawan)

WITNESSES:

(...................................................)

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