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An Update on The Material Transaction

“OJK issued the Regulation of OJK Number 17/POJK.04/2020 on Material Transactions and Alterations of Business Activities (“POJK 17/2020”). After six months from the POJK 17/2020 comes into force, the Decree of the Head of the Capital Market and Financial Institution Supervisory Agency Number. Kep-614/bl/2011 on Material Transactions and Alteration of Primary Business Activities, along with Rule Number IX.E.2 as its appendix, are replaced and declared invalid.” On April 2020, Financial

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Benefits of Having Company Regulation for Your Company

“In order to clear any doubt throughout an industrial relation between the company and its employees, a company regulation serves to tie all loose ends left by the vague provisions of the Manpower Law.” Pursuant to the Law No. 13 of 2003 concerning Manpower (“Manpower Law”), every company which employs at least ten employees is under an obligation to establish a set of company regulation. It is defined as a

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Types of Employment Contract in Indonesia

“The types of employment contract in Indonesia can be separated into two, which are Temporary Employment Contract and Permanent Employment Contract. Type of contract affects the right and obligation both parties, and in some cases, the enforceability of the contract itself.” Some jobs, such as office work, are constant and continuous. Some others, such as project-based work, are short term and intermittent. While people focus on the details of the

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Debt Restructuring in the event of Force Majeure

“In practice, the parties in the agreement cannot simply stop due to force majeure. As both of their business is at stake, there needs to be a remedy to the situation caused by force majeure. Among many things, one of the known remedies is by restructuring the debt.”

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Types of Dispute Resolution in Indonesia

“In an attempt to accommodate specific needs of contracting parties, Indonesian law provides multiple methods of dispute resolution to ensure maximum effectivity and welfare.” In Indonesia, the methods of dispute resolution can be divided into two categories based on the forum, which is in or outside the court of justice. Subsequently, throughout this article, the method of dispute resolution carried out within the court of justice shall be referred to

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