ASPEK HUKUM TRANSAKSI DERIVATIF OVER THE COUNTER BERUPA STRUCTURED PRODUCT CALLABLE FORWARD

BONARDO SINAGA, Dr. Susilowati, SH., M.Hum.

2015 | Tesis | S2 Manajemen

Penelitian tentang aspek hukum perjanjian transaksi derivatif di luar bursa atau over the counter berupa structured product callable forward ini bertujuan untuk mengetahui efektivitas Peraturan Bank Indonesia Nomor 7/31/PBI/2005 yang telah dirubah sebagian dengan Peraturan Bank Indonesia Nomor 10/38/PBI/2008 tentang Perubahan Peraturan Bank Indonesia Nomor 7/31/PBI/2005 tentang Transaksi Derivatif, dan mengetahui keabsahan dari perjanjian callable forward tersebut antara PT. PHS (nasabah bank) dengan bank. Pelaksanaan perjanjian callable forward tersebut mengalami sengketa yang kemudian telah diperiksa dan diputus oleh Pengadilan Negeri Jakarta Selatan melalui Putusan Pengadilan Negeri Jakarta Selatan Nomor 24/Pdt.G/2009/PN.Jkt.Sel tanggal 09 September 2009. Peraturan Bank Indonesia (PBI) Nomor: 7/31/PBI/2005 tanggal 13 September 2005 yang telah dirubah dengan PBI No. 10/38/PBI/2008 tanggal 16 Desember 2008 adalah aturan khusus tentang transaksi derivatif yang penerapannya dijadikan sebagai pertimbangan majelis hakim yang memeriksa sengketa transaksi derivatif berupa structured product antara bank dengan nasabah yang merupakan perusahan non finansial di Indonesia dalam Putusan Pengadilan Negeri Jakarta Selatan Nomor 24/Pdt.G/2009/PN.Jkt.Sel tanggal 09 September 2009. Putusan hakim tersebut membatalkan dan menyatakan tidak sah transaksi derivatif berupa perjanjian callable forward yang dilakukan oleh kedua belah pihak sehingga masing-masing pihak harus mengembalikan mata uang rupiah dan mata uang Dollar Amerika Serikat yang sudah diserahkan dan diterima sebelumnya.

Research on the legal aspects of the agreement of derivative transactions overthe- counter named as a structured products in the form of callable forward aims to determine the effectiveness of Bank Indonesia Regulation Number 7/31/PBI/2005 which partly amended by Bank Indonesia Regulation Number 10/38/PBI / 2008 concerning Amendment to Bank Indonesia Regulation No. 7/31/PBI/2005 on Derivative Transactions, and to know the validity of the callable forward agreement between customer and bank. Implementation of the callable forward agreement is suffered dispute subsequently been tried and sentenced by the District Court of South Jakarta with the South Jakarta District Court Decision No. 24/Pdt.G/2009/PN.Jkt.Sel dated September 9, 2009. Bank Indonesia Regulation (PBI) No. 7/31/PBI/2005 dated 13 September 2005 which has been amended by PBI. 10/38/PBI/2008 dated December 16, 2008 are specific rules on the application of derivative transactions taken as a panel of judges who examine disputed derivative form of structured product transactions between the bank and customer which is a non-financial company in Indonesia. The judge's decision to cancel and declare unauthorized derivative transactions in the form of callable forward agreement made by both parties so that each party must return the rupiah and U.S. dollar currencies that have been previously submitted and accepted by both parties.

Kata Kunci : transaksi derivatif, structured product, callable forward, di luar bursa