| Summary: | Derivative transaction is developing vastly in money market and especially
in foreign currency purchasing market. That condition happens generally because
of the fluctuation of currency values. This research is mainly trying to figure out
some explanations on derivative transaction specifically from Indonesian contract
law perspective and is also trying to find out about the arrangement of this
instrument according to Indonesian banking law.
The research model used in this thesis is a normative-analytical model.
The process starts with analyzing a bunch of laws or regulations related to the
main proablems of this research, namely, derivative transaction and contract law.
This phase is aimed to find some explanations whether a derivative transaction
meets the conditions of contractual validity as mentioned in Indonesian Civil
Code (BW) and also to figure out about the derivative transaction arrangement in
Indonesian banking law.
From the perspective of contract law, derivative transaction will be
considered to be valid when it has complied with the contractual conditions based
on article 1320 BW, which consists of meeting of minds, legal capacities among
the contracting parties, certain matter, and rightful reason or permitted by law. In
addition, derivative transaction is not similar with a speculative agreement.
Derivative transaction is absolutely a legal banking product, because there
is a complete set of regulations for such product in Indonesian banking law
system.
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