Application of 5C Principles in Fintech Financing Agreements Reviewed according to Indonesian Positive Law
DOI:
https://doi.org/10.31305/rrijm.2024.v09.n04.017Keywords:
5C Principles, Agreement, Fintech InstitutionsAbstract
This research aims to analyze form of regulation of the 5C principles in Fintech financing according to applicable positive law. To analyze the form of legal protection for customers who carry out fintech financing. By using normative legal research methods. Research results The form of regulation of the 5C principles in Fintech financing according to applicable positive law is contained in various regulations consisting of Article 29 paragraphs 2, 3 and 4 of Law no. 10 of 1998, Article 26 paragraph (1) of the ITE Law, Bank Indonesia Regulation no. 13/25/PBI/2011 concerning Prudential Principles for Commercial Banks, Bank Indonesia Regulation Number 14/2/PBI/2012 concerning the Implementation of Card Payment Instruments, Bank Indonesia Regulation Number 19/12/PBI/2017 concerning the Implementation of Financial Technology, Financial Services Authority Regulation no. 77/POJK.01/2016 concerning Information Technology-Based Lending and Borrowing Services, and Financial Services Authority Regulation Number 37/POJK.04/2018 concerning Crowdfunding Services Through Information Technology-Based Share Offerings ( Equity Crowdfunding) . Forms of legal protection for customers who carry out fintech financing. There are two forms of legal protection, namely preventive legal protection consisting of legal protection for users of fintech services, especially online lending and borrowing. Before a dispute occurs, preventive measures can be taken by the lending and borrowing service providers. online based. The organizer's efforts before a dispute occurs are to apply the basic principles of legal protection for service users. These principles are regulated in Article 29 POJK Number 77/POJK.01/2016 concerning Online Money Lending and Borrowing Services, including the principles of transparency, fair treatment, reliability, success and data security, and simple, fast, user dispute resolution. and affordable costs and means of repressive legal protection, to resolve disputes that have occurred. This legal protection can only be implemented after a dispute arises, such as administrative sanctions and criminal sanctions if there is negligence committed by the Fintech institution. Disputes in online money lending and borrowing services can occur between users and other users or between users and service providers.
References
Book
A. Karim Adiwarman. 2010, Islamic Bank Analysis of Fiqh and Finance . Ed. Four. Jakarta: PT Rajagrafindo Persada.
Abdul Hadi Ilman, et al, "The Role of Financial Technology for the Economies of Developing Countries", JEBI Journal. Vol 4 Number 1 2019. UTS Faculty of Economics and Business.
Abdulkadir Muhammad, Contract Law, Bandung: Citra Aditya Bakti, 2002
Amiruddin and Zainal Asikin, Introduction to Legal Research Methods, Cet, PT Raja Grafindo Persada, Jakarta, 2018
Amiruddin and Zainal Asikin, Introduction to Legal Research Methods, Raja Wali Press, 2018
Arrison Hendry, Sharia Banking, Jakarta: Muamalah Institute, 1999,
Astrid Savitri. Industrial Revolution 4.0 Turns Challenges into Opportunities in the Era of Disruption 4.0. Yogyakarta: Genesis Publishers. 2019
Aulia Muthiah, Aspects of Commercial Law and Its Implementation in Indonesia, Yogyakarta: PT.Pustaka Baru, 2016
Aulia Muthiah, Aspects of Commercial Law and Its Implementation in Indonesia, Yogyakarta: PT.Pustaka Baru, 2016
Binti Nur Asiyah, Sharia Bank Financing Management, Kalimedia, Yogyakarta, 2015
CST Kansil, introduction to Indonesian law and legal system, publisher Balai Library Jakarta 2009
Cst Kansil, Dictionary of Legal Terms, Gramedia Pustaka, Jakarta, 2009
Djasin Saragih, A Glance at the Comparison of Civil Law and Common Law Contract Law, ELIPS Projects Workshop-Contract Law Material, Surabaya, Collaboration between FH Unair and FH UI, 1993
Djasin Saragih, A Glance at the Comparison of Civil Law and Common Law Contract Law, ELIPS Projects Workshop-Contract Law Material, Surabaya, Collaboration between FH Unair and FH UI, 1993
Djoni S, Gazali and Rachmadi Usman. Banking law. Jakarta: Sinar Graphics. 2012
E. Fernando M. Manullang, 2007, Responding to Just Law Review of Natural Law and Anatomy of Values, Jakarta: PT. Kompas Media Nusantara
Gatot Supramono, Loan and Borrow Agreement, First Printing, Jakarta: Kencana Prenada Media Group, 2013
Handri Raharjo, Contract Law in Indonesia, Yogyakarta: Pustaka Yustisia, 2009
Handri Raharjo, Contract Law in Indonesia, Yogyakarta: Pustaka Yustisia, 2009
I Ketut Oka Setiawan, Civil Law Regarding Engagements, Jakarta, 2014
Imade Pasek Diantha, Normtive Legal Research Methodology in Justifying Legal Theory, Prenada Media, Jakarta, 2016
Irawan Soerodjo, Contract and Land Law, Cet.1, Yogyakarta, 2016
Irawan Soerodjo, Contract and Land Law, Cet.1, Yogyakarta, 2016
Ishaq, Basics of Legal Science, Jakarta: Sinar Graphic 2009
Kartini Muljadi and Gunawan Widjaja, Engagements Born from Agreements, First Printing, Jakarta: PT RajaGrafindo Persada, 2003
Kasmir, Banks and other Financial Institutions, Revised Edition, Jakarta : PT. RajaGrafindo Persada, 2008
Kasmir, Banking Management, PT RajaGrafindo Persada, Kudus, 2002
Khaeral Umam, Sharia Banking Management, CV Pustaka Setia, Bandung, 2013
Lj Van Apeldoorn in Shidarta, Morality of the Legal Profession as an Offering Framework for Thinking, revika aditama, Bandung, 2006
Laksanto Utomo, Legal Aspects of Credit Cards and Consumer Protection, Bandung: Alumni, 2011
Laksanto Utomo, Legal Aspects of Credit Cards and Consumer Protection, Bandung: Alumni, 2011
Lukman Santoso Az, Legal Aspects of Agreements, Yogyakarta, 2019
Lutfi Nasution, Towards Agrarian Justice (70 years of Gunawan Wiradi), Akatiga, Bandung, 2002
M. Arsyad Sanusi, Information Technology and E-Commerce Law, Jakarta: PT Dian Ariesta, 2001
M. Arsyad Sanusi, Information Technology and E-Commerce Law, Jakarta: PT Dian Ariesta, 2001
Mariam Darus Badrulzaman, Compilation of the Law of Engagement, First Printing, Bandung: Citra Aditya Bakti, 2001
Mariam Darus Badrulzaman, Bank Credit Agreements, Bandung: Alumni, 1983
Mariam Darus Badrulzaman, Bank Credit Agreements, Bandung: Alumni, 1983
Marta Eri Safira, MH, Civil Law, CV. Nata Karya, Ponorogo, 2017
Mery Christian Putri, Initiating Constitutional and Just Financial Technology Regulations, Cet.1, Raja Grafindo Persada, Depok, 2022
Mochtar Kusumaatmadja in Otje Salman and Eddy Damian, Legal Concepts in Development, Bandung : Alumni, 2002
Muchsin, Legal protection and certainty for investors in Indonesia, Surakarta: Master of Laws Postgraduate Program at Eleven March University, 2003
Mudrajad Kuncoro, Suhardjono, Banking Management: Theory and Application, BPFE, Yogyakarta, 2002
Muhammad Abdulkadir, Contract Law, Bandung: Citra Aditya Bakti, 1990
Muhammad Djumhana, Banking Law in Indonesia, Citra Aditya Bakti, Bandung, 2000
Muhammad Syafi'i Antonio. Sharia Banking from Theory to Practice, Jakarta: Gema Insani Press. 2001
Muhammad, 2014, Sharia Financial Management, STIM YKPN: Yogyakart
Muhammad, Sharia Bank Management, Yogyakarta: UPP AMP YKPN, 2005
Mukti Fajar ND and Yulianto Achmad, Dualism of Normative & Empirical Legal Research, Student Library, Yogyakarta, 2013
Mustafa Edwin Nasution et.al. "Exclusive Introduction to Islam". Prenadamedia Group : Jakarta
Nabila Aulia Rahma, et al, 2019, Responsive Law System of Financial Technology: Efforts to Reconstruct the Concept of Peer-To-Peer Lending Dispute Resolution, Legislative Journal, Vol. 3 No. 1, Pg. 126
Philipus M. Hadjon, Legal Protection for the People in Indonesia, Jakarta: Bina Ilmu, 1987
Philipus M. Hadjon, Legal Protection for the People in Indonesia, a study of its Principles, Handling by the Courts in the General Court Environment and the Establishment of Administrative Justice, Peradaban, Jakarta, 2007
R Juli Moertiono, "Cooperation Agreement in the Field of Employment and Labor Services Between Pt. Sinar Jaya Pura Abadi And Pt. Asianfast Marine Industries", Legal Journal of Communication Media and Information Law and Society, Vol. 18, no. 3, 2019
Rachmadi Usman, Legal Aspects of Banking in Indonesia, PT. Gramedia Pustaka Utama, Jakarta, 2001
Rachmadi Usman, Aspects of Banking Law in Indonesia, PT. Gramedia Pustaka, Jakarta, 2001
Richard Baldwin, The Great Convergence : Information Technology And The New Globalization, London Belknap Press, 2016
Richardus Eko Indrajit. The Role of Information Technology and the Internet. Yogyakarta: Andi Offest, 2011
Rivai Veithzal and Arfian Arifin. Islamic Banking: A theory, concept and application, Ed. 1 Cet. 1, Jakarta: Bumi Aksara, 2010
Salim HS, Electronic Contract Law E-Contract Law, Cet.1, Raja Grafindo Persada, Depok, 2020
Sutan Remi Sjahdeini, Freedom of Contract and Balanced Protection for Parties in Bank Indonesia Credit Agreements, Print I, Jakarta: Pustaka Utama Grafiti, 2009
Tim Dinar, Sharia Fintech: Theory and Application Examining Theory, Business Models and Sharia Finance in the Era of Industrial Revolution 4.0, Surabaya, Scopindo Media Pustaka, 2020
Veithzal Rivai, Andria Permata Veithzal, Islamic Financial Management: theory, concepts and applications: a practical guide for financial institutions, customers, practitioners and students, Jakarta: RajaGrafindo Persada, 2008
Wahyu Utami, Introduction to Business Law in the Perspective of Theory and Practice in Indonesia, Jakarta: Jala Permata Aksara, 2017
Wahyu Utami, Introduction to Business Law in the Perspective of Theory and Practice in Indonesia, Jakarta: Jala Permata Aksara, 2017
Yahya Harahap, Legal Aspects of Agreements, Second Printing, Bandung: PT. Alumni, 1986
Zainal Asikin, Getting to Know Legal Philosophy, ANDI, Yogyakarta, 2020
Journals and Magazines
Agus Mujiono, Prudential Principles in Financing and Credit at BMT Hasanah and BRI Mlarak units, Ponorogo, Muslim Heritage, Vol. 1, No. 1, May – October 2016
I Putu Gede Wirawan and I Wayan Novy Purwanto, Validity of Fintech Agreements from a Civil Law Perspective, Jurnal Kertha Desa, Vol.9 No.5, Page. 82-91
Nur Kholis. Banking in the New Digital Era. Economicus Journal. Vol. 9 No. 1: 2018.
Rosalina et al. "Crowdfunding Application as an Intermediary for Fundraising Based on Websites and Facebook Applications". Infra Journal Vol.3 No.2
Santi, Ernama, et al, 2017, Financial Services Authority Supervision of Financial Technology (POJK Number 7/pojk.01/2016), Journal of Business Law, Vol. 6 No. 3, Pg. 3
Svelana Saksonova and Irina Kusmina Marilino. "Fintech as Financial Innovation-the Possibilities and Problems of Implementation". European studies research journal. 2017, pp. 961-973
Tjandra, Antoni, 2020, Empty Norms for Determining Interest on Financial Technology Peer To Peer Lending Loans, Bonum Commune Business Law Journal, 3(1), 90-103. p.100-101. DOI: https://doi.org/10.30996/jhbbc.v3i1
Internet
Daily Social, "DSResearch Report: Fintech Report 2020: Looking at the Condition and Development of the Industry in the Midst of the Pandemic", https://dailysocial.id/post/fintech-report-2020 , accessed March 12 2024, at 22.52 WITA
http://www.kominfo.go.id/content/survei/penetrasi/user/internet Accessed on Wednesday, 03 March 2024 at 19.27 WITA
Downloads
Published
How to Cite
Issue
Section
License
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
This is an open access article under the CC BY-NC-ND license Creative Commons Attribution-Noncommercial 4.0 International (CC BY-NC 4.0).