Research Article
Credit Relaxation Policy During Covid-19 Reviewed from the Force Majeure Aspect
@INPROCEEDINGS{10.4108/eai.6-3-2021.2306389, author={Faisal Santiago}, title={Credit Relaxation Policy During Covid-19 Reviewed from the Force Majeure Aspect}, proceedings={Proceedings of the 1st International Conference on Law, Social Science, Economics, and Education, ICLSSEE 2021, March 6th 2021, Jakarta, Indonesia}, publisher={EAI}, proceedings_a={ICLSSEE}, year={2021}, month={5}, keywords={credit relaxation; force majeure}, doi={10.4108/eai.6-3-2021.2306389} }- Faisal Santiago
Year: 2021
Credit Relaxation Policy During Covid-19 Reviewed from the Force Majeure Aspect
ICLSSEE
EAI
DOI: 10.4108/eai.6-3-2021.2306389
Abstract
In the Coronavirus disease 2019 (Covid-19) situation that hit Indonesia, it had an impact on the economy and disrupted the liquidity of banks and other financial institutions. Micro, small and medium enterprises, who have an obligation for the credit they have taken, which have an impact either directly or indirectly on the performance and capacity of the debtor in fulfilling credit or financing payment obligations. The formulation of the research problem: Did the relaxation of credit provided by banks during the Covid 19 pandemic not deviate from the force majeure aspect? The findings of the research on the credit restructuring policy have deviated from the legal aspects contained in Article 1245 of the Civil Code regarding force majeure. In conducting credit restructuring, it is necessary to have deliberations between creditors and debtors, in order to realize the principle of balance and not to deviate from the force majeure aspects contained in Article 1245 of the Civil Code.