The Development of Indemnity Law in Indonesia (A Study of Problems Raised by the Existence of Peer to Peer Lending)

DOI

10.2991/icils-19.2019.25How to use a DOI?

Keywords

Indemnity Law, Peer to Peer Lending, Indonesia

Abstract

Upon its arrival in Indonesia, fintech adds a new nuance in the development of business and indemnity law in Indonesia. Its emergence is triggered by the lifestyle changes of millennial people. Business activities nowadays increasingly developing and they lead to a healthy competition atmosphere. In order to compete well, the business activities require good capital and business considerations. The most important survival factors of businesses, especially those which develop in the millennial era are the capital, the good management and the good legal compliance. Fintech activities consist of 5 (five) categories of implementation, which are (a) a payment system; (b) a market support; (c) an investment management and a risk management; (d) lending, financing/ funding, and capital raising; and (e) other financial services. A peer to peer lending which is part of fintech is the most appropriate choice in the millennial era and the acceleration of indemnity law provides facilities for easy debt servicing. How will the indemnity law in Indonesia develop with the existence of a peer to peer lending. This paper is based on the results of legal research conducted at Otoritas Jasa Keuangan (the Financial Services Authority) and several companies in Indonesia. A peer to peer lending is a breath of fresh air in Indonesia, especially for the indemnity law, and its presence certainly raises the pros and cons as well as its own problems. On one hand, a peer to peer lending benefits the indemnity law in Indonesia, on the other hand it raises some inevitable problems along with its arrival.

Copyright

© 2019, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Achmad Busro
AU  - Yuli Prasetyo Adhi
PY  - 2019/11
DA  - 2019/11
TI  - The Development of Indemnity Law in Indonesia (A Study of Problems Raised by the Existence of Peer to Peer Lending)
BT  - Proceedings of the 2nd International Conference on Indonesian Legal Studies (ICILS 2019)
PB  - Atlantis Press
SP  - 140
EP  - 143
SN  - 2352-5398
UR  - https://doi.org/10.2991/icils-19.2019.25
DO  - 10.2991/icils-19.2019.25
ID  - Busro2019/11
ER  -