TRANSAKSI SWAP DAN DERIVATIF BENTUK PERJANJIAN DAN KEABSAHANNYA

P.D.D. Dermawan

Abstract


The fluctuation of foreign exchange rate and interest rate has led many companies and individuals to protect themselves against the risk of loss due to a very extreme and sudden change of exchange rate and interest rate. Swap transaction (currency or interest rate) constitutes one of the facilities they mostly use, particularly companies with a quite considerable liability in foreign currency while they mostly receive their income in rupiah. Essentially, swap transaction being an agreement to exchange payment liabilities (periodically) belongs to exchange agreement group (Civil Code, Book Three, Chapter 6 Articles 1541-1546). But due to the complexity of said agreement, the parties to the swap transaction agreement sometimes fail to reach a settlement agreement, particularly in case any external factor (monetary crisis) suddenly makes either party have to fulfill his vey considerable liability. Several big cases relating to the said swap transaction such as between PT Suyamas Duta Makmur vs PT Bank Niaga Tbk; then in relation to bankruptcy case PTDharmala Agrifood vs Bank Niaga, PT

ING Indonesia Bank and International Finance Corporation, indicate that it is not easy to enforce the law to settle swap transaction. In this article, P.D.D.Dermawan, S.H., LLM, explains the forms of swap and derivative transactions and regulations thereof in detail

in order to be easy to understand.

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