Legal Analisys on Bond Issuance Of The Retail (OTR)

International Journal of Business, Economic and Low, Vol. 11, Issue 4 (Dec. 2016), ISSN. 2289-1552

Kamis, 29 Maret 2018 11:32 | Sudah dibaca 340 kali

Governmental policy of President Susilo Bambang Yudhoyono and Vice President Jusuf Kalla to publish the retail state bonds in July 2006 and continued in 2008 represented one of monetary policies released in order to closing over deficit of State Budget which was another form of Government Securities sold by retail to public, and apart from that, implementation of retail state bonds is one of potential funding to lessen the burden and risk of state's finance in the future by keeping noticing to assorted relevant consideration and aspects, both negative and positive aspects. Historically, issuance of state bonds (in 1950s) in the period of Governance of President Soekarno experienced default. In relation to that, what are becoming problems are how regulation of issuance of retail state bonds in the law of government securities is, and legal status and protection for holders of retail state bonds. This is none other than to know how big the guarantee is and legal protection for the investment which has been put in the form of the bonds. Based on the result of this study, it is clear that the regulation of issuance of retail state bonds in the law of government securities guarantees the existence of bonds issued by Government of Republic of Indonesia. This means that the government guarantees and is obliged to pay the interest and principal of each due government securities. The legal status for holders of retail state bonds is basically not different from unsecured creditors in a debt agreement whose payments have no rights to be prioritized from other creditors if the government is in default. The legal protection for holders of state bonds is pursuant to Law of Government Securities and pursuant to money-loan agreement between government and investors.

Kata Kunci: Issuance, Retail State Bonds