news & insights - Gaffar & Co. Law

An Update on The Material Transaction

August 19, 2020

“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

Benefits of Having Company Regulation for Your Company

August 11, 2020

“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

Types of Employment Contract in Indonesia

August 4, 2020

“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

Debt Restructuring in the event of Force Majeure

July 28, 2020

“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.”

Differences between Default and Tort

July 15, 2020

Put merely; the default can be used for when a party to an agreement violated that agreement, while tort can be used when someone broke the law and it caused injury/damages to someone else.

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An Update on The Material Transaction

Benefits of Having Company Regulation for Your Company

Types of Employment Contract in Indonesia

Debt Restructuring in the event of Force Majeure

Differences between Default and Tort