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20 May 2024: Legal Overview on Tapera (Tabungan Perumahan Rakyat), the "Citizen's Saving for Housing"

On 20 May 2024, Indonesia promulgated the Government Regulation Number 21 Year 2024 on the Amendment of Government Regulation Number 25 Year 2020 on the Implementation of Citizen's Saving for Housing (Peraturan Pemerintah Nomor 21 Tahun 2024 tentang Perubahan atas Peraturan Pemerintah Nomor 25 Tahun 2020 tentang Penyelenggaraan Tabungan Perumahan Rakyat) , commonly called as the " Tapera " . Referring to its definition, in principle, Tapera is a saving, conducted periodically by the "Participant", that can be utilized only for financing the housing and/or can be returned along with its yield resulted after the one's participation is ended. As stipulated in Article 15 of the Tapera regulation, the "Saving" rate has been set at 3% (three percent) of the "Salary" or "Wage" towards the "Employee Participant" (0.5% by the Employer and 2.5% by the Employee), and of the "Income" towards the "Independent Worker...

Restrictions or Limitation on the Scope of Agency in the Trading or Sales Agency Agreement

Term "agency" under the Black's Law Dictionary, legal perspective and in this context of trading or sales agreement extends over the generality of authorization to do certain acts and or representation for and or on behalf of the one who authorizes such acts or gives such authorization. Therefore, there are potential vagueness on the scope of authorization, acts, representation and relationship in-between if the concerned parties haven't clearly specify particular scope or limitation and or even relevant restrictions towards such "agency". On the other hand, that measure could clarify parties' stance or position over certain situation in relation with their affairs under the agreement and towards the third party, as the case may be. Moreover, as the agency cannot be deemed to be the same as its principal, such measure may prevent misleading context or vague burden or responsibility in the agent's point of view, and misrepresentation of agent in the principal's point of view.

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