Today’s Legal Enlightenment (Wednesday, December 1, 2021)-THE VALIDITY OF THE MORTGAGE DEED

BNI 1946, according to Law No. 17/1968, both the head office and all of its branch offices, both local and abroad, are each not autonomous, but as a single legal entity. A credit agreement entered into by BNI 1946 branch office in Hong Kong with its costumer (Hong Kong resident) as the debtor, is valid as a “Principal Agreement”. Furthermore, at the request of the branch office in Hong Kong via telex (without a power of attorney) requested that BNI special branch office in Jakarta Kota enter into a mortgage binding agreement with credit guarantors domiciled in Jakarta as credit guarantees provided by the branch office in Hong Kong, the Deed and Mortgage Certificate made in Jakarta are valid assessor agreements.

Supreme Court Decision No. 3951 K/Pdt/1985 dated April 21, 1992

Regards,

Fredrik J. Pinakunary