”The Parties that conduct E-Commerce activity has legal compliance including specific license, namely SIUPMSE, obligation to have Electronic System Provider Certificate, use an Indonesian domain name (dot id), and so forth.” To face the growth of Electronic Commerce (“E-Commerce”) activity in Indonesia, Indonesia Government has issued the Government Regulation No. 80 of 2019 on Commerce through Electronic System (“GR 80/2019”) and Regulation of Minister of Trade No. 50 of 2020
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“As a relatively recent business field in Indonesia, the operation of Web Portal has not been thoroughly or specifically regulated. However, considering the enormous scope of the business field, multiple laws and regulations apply to the business field of Web Portal by inference.” In Indonesia, business fields are regulated in a standard classification. In an attempt to accommodate the growing market sectors, this classification is constantly updated. Currently, business fields
“In according to PBI 19/2017, payment system includes activities of authorization, clearance, final settlement, and payment.” Financial Technology (“Fintech”) is innovation in the financial sector that can impact on monetary stability, financial system stability, and/or efficiency, fluency, security and reliability of the payment system. In connection with those impacts and to support Fintech innovation with complying the consumer protection principles and risk and prudence management, Bank Indonesia (“BI”) as payment
“In Indonesia, companies are entitled to endure company restructuration, including Merger and Acquisition. While these corporate actions may solely derive from a business strategy, there are multiple legal aspects that must not be overlooked.” Pursuant to the Law No. 40 of 2007 concerning Limited Liability Company (“Company Law”), Merger is defined as a legal action taken by one or more companies to merge into another existing company. On the other
“Ministry of Trade issued Ministry of Trade Regulation No. 50 of 2020 to regulate merchant, electronic service provider, and intermediary services (business actors) both inside and outside Indonesia which conducts/facilitates trade via electronic means (e-commerce) (“Permendag 50/2020”) mentioned that for an overseas electronic service provider which conducted transaction/shipping, i.e. more than 1.000 transaction/shipping annually, they are required to establish a representative trade office (KP3A) in Indonesia.” In this era of