CONTRACT AGREEMENT
(JIMBARAN VILLA CONSTRUCTION)
Project :1 ( One ) Unit of Villa
Location : Jimbaran Bali
This agreement is made and entered between .............., as The prospective owner of a Villa property to be constructed under the terms of this agreement hereinafter referred to as the “............." on the one part.
--------And ------------
.............. , a real estate Developer, registered under the law of Indonesia and having its head office at .............., (Add town), Add District, State/Country,
-------- hereinafter referred to as “Developer" on the other part.
WHEREAS the Developer has assigned a land on a convenient location in Jimbaran Bali area on which it is planning to develop a unit of Villa,
WHEREAS that the location of the land is truly the ownership the Client, and the Client is desirous to employ the Developer to build a unit of Villa that meet his/ her financial capacity and personal requirements;
NOW THEREFORE the Developer and the Client have freely consented to all the terms and conditions contained herein as follows:-
----------------------- ARTICLE 1 -----------------------
SCOPE OF AGREEMENT
WHEREAS the first party is the owner of the plot of land admeasuring .................... sq. meters bearing plot No. ........... city survey No. .................. Certifcate No. ..................... situate, lying and being at ............... Jimbaran Bali Indonesia ............... (hereinafter referred to as the "said plot of land") and is desirous of getting a Villa constructed on the said plot of land.
AND WHEREAS the first party has appointed ....................... as the Contractor and the said Contractor has prepared the plans, drawings and elevations of the said intended Villa and the specification of the works to be done and of the materials.
AND WHEREAS the second party is a big contractor and is having vast experience in construction of real Estates Development and has agreed to construct the Villa on the said plot of land.
------------------------- ARTICLE 2 -------------------------
SCOPE OF CONSTRUCTION
AND WHEREAS the second party agreed to prepare the layout plans, general building plans, detailed architectural drawings, sketches, structural drawings and designs for execution and elevations of the said intended Villa and the specification of the works of the materials, equipment, legal documents which consists of :
- Construction Agreement and legal documnets
- Budgeting Planning and Execution
- Drawings
All documents should be well-integrated and supplemented to the terms and conditions.
-------------------------- ARTICLE 3 -------------------
CONTRACTED COSTS
Costs for Villa project execution is subjected to the Planning and Budgeting estimated and agreed of amount of Rp 2, 088,000,000,- ( Two Billions and Eighty Eight Millions )
------------------------- ARTICLE 4 ----------------------
TERMS OF PAYMENT
1. 30% Down Payment of the total cost i.e 30% x Rp 2,088,000,000,- = Rp 626, 400,000,- is paid upon signing the contract
2. 25 % of total cost i.e. 25% x Rp 2,088,000,000,- that is Rp 522,000,000,- is paid upon the completion of 25 % of the construction planning.
3. 25 % of total cost i.e. 25% x Rp 2,088,000,000,- that is Rp 522,000,000,- is paid upon the completion of 35 % construction planning.
4. 25 % of total cost i.e. 25% x Rp 2,088,000,000,- that is Rp 522,000,000,- is paid upon completion of 60 % construction planning.
5. 5 % of total cost i.e. 5% x Rp 2,088,000,000,- that is Rp 104,400,000,-,- is paid upon completion of finishing of
80 % construction planning and hand over the key.
------------------------ ARTICLE 5 -----------------
CONSTRUCTION COMMENCEMENT AND MAINTENANCE
1. Unless otherwise there is a force majuare or beyond our control the developer shall start the construction of the villa within 217 days or 7 (seven) months from the date of signing of this contract.
2. Duration of Villa maintenance is said to one (1) month from the date of hand over key.
---------------------------- ARTICLE 6 -----------------------
DEVELOPER’S GUARANTEE AND RECTIFICATION
- The Developer shall stand responsible for ONE (1) MONTH for any structural defects unless caused by natural causes or mishandling by the Client.
- Additional works or labor reduction is executed based on the costs agreed by both parties.
This Contract shall come in to effect upon the date the parties hereto affix their signatures.
This agreement shall be executed in duplicate. The original shall be retained by the employer and the duplicate by the contractors.
INTENDING TO BE LEGALLY BOUND, this Contract made and executed in
Denpasar Bali this ___________ day of __________________.
FOR THE CLIENT FOR THE CONTRACTOR
__________ _______________
CLIENT/OWNER CONTRATCTOR
WITNESSES
NAME SIGNATURE DATE
- __________________ ________________ __________________
2. __________________ ________________ _________________
