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Jakarta Post

Lawyers, business players call for revision of business dispute resolution law

  • News Desk

    The Jakarta Post

PREMIUM
Jakarta   /   Tue, September 10, 2019   /  03:02 pm
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Indonesian Employers Association (Apindo) chairman Hariyadi Sukamdani has expressed support for the revision of Law No. 30/1999 on arbitration and business dispute resolution.(JP/Anton Hermansyah)

Lawyers and business players are calling on the government to amend Law No. 30/1999 on arbitration and business dispute resolution as it does not follow international standards and is no longer relevant to current situation. A senior partner at the Karim Syah Law Firm, Firmansyah, said recently that the law had yet to adopt the internationally recognized Model Law on International Commercial Arbitration formulated by the United Nations Commission on International Trade Law in 1985 to provide a template that lawmakers in every country can adopt as part of their domestic legislation and arbitration procedures. He also highlighted that the law was not in line with the latest trends in the industry, which was going through digitalization in many sectors. “Fintech companies, for instance: Let’s say they have operated an average of three years. As such, it would be di...