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14 February 2019

Announcement Underlying Document For Forex Transactions

Announcement Underlying Document For Forex Transactions

To.
Our Valued Customers
PT Bank Resona Perdania

As stipulated in PADG regarding Foreign Exchange Transactions against Rupiah between Bank and Domestic Parties, we herewith inform again as follows :

  1. For transactions of purchasing foreign currency against IDR through Spot Transaction more than USD25,000 or equivalent in other foreign currency or through Derivative Transaction more than USD100.000 or equivalent in other foreign currency each month, Customers shall submit Statement Letter To Buy/Sell Foreign Currency and Underlying document to the Bank.
  2. Types of Underlying Documents such as:
    a. Loan Document.
    b. Copy of Royalty Agreement.
    c. Letter of Credit (L/C).
    d. Copy of PIB or PEB.
    e. Invoice or commercial invoice that still valid until due date. If invoice is expired, still can be used until next 3 (three) months after due date with condition, also submit document as follows:
    1) MT103 which consist of information about related invoice or transfer application or valid electronic instruction to debit customer’s account and
    2) Statement letter from customers states that related invoice has not been paid yet
    If the due date is not mentioned in the Invoice, so the date of invoice is assumed as due date.
  3. Banks that violate above stipulation could be imposed administrative sanction in written reprimand and/or financial sanctions amounting 1% (one percent) out of the transaction value with minimum value IDR10,000,000.00 (ten million Rupiah) and maximum value IDR1,000,000,000.00 (one billion Rupiah).

For more details about other types of underlying document, please refer to Peraturan Dewan Gubernur (PADG) No.20/16/PADG/2018, appendix VI at BI website as follows: https://www.bi.go.id/id/peraturan/moneter/Pages/PADG201618.aspx, or our website: www.perdania.co.id/product-services/customer-form/

That’s all our information. Thank you for your attention and cooperation.

Best regards,
PT Bank Resona Perdania

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