THE ROLE OF FOREIGN TRADE TRANSACTIONS AND
ENDORSEMENTS IN PRODUCTIVITY AND THE ECONOMY
Introduction
International trade is one of the important aspects in the economy of every country in
the world. With international trade, the economy will be intertwined and create an economic
relationship that mutually affects one country with another country and the traffic in goods
and services will form trade between nations. International trade is an activity that aims to
improve the welfare of the people of a country. The occurrence of domestic and foreign
economies will create a mutually influencing relationship between one country and another,
one of which is the exchange of goods and services between countries.
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, namely buying and selling goods
between entrepreneurs who each reside in different countries. Securities is a document
issued by the issuer as a fulfillment of an achievement in the form of payment of a sum of
money so that it functions as a means of payment to the parties holding the letter, either the
party given the securities by the issuer or the third party to whom the securities are endorsed.
There are several types of securities that can be traded or transferred according to the
KUHD, one of which is a money order, a money order is a securities letter containing the
word money order in it, dated and signed somewhere, in which the issuer gives an
unconditional order to the respondent to pay on the day of payment - pay a sum of money to
the person (recipient) appointed by the issuer or his successor at a certain place, a money
order is a dated securities letter and mentions the following place of issuance, which is an
unconditional order by the drawer to pay to the holder or appointed by the holder. Because
this money order involves the law of the agreement between the two parties.
The parties involved in money orders based on legal science. Parties involved in bills
of exchange mean persons or entities involved in payment traffic with bills of exchange. One
of them is the endorsement. Endorsement is an institution in money order law where the bill
rights of the holder of the money order can be transferred to the next holder in a simple
way.2
Research Methods
The research method used is normative, namely library legal research or legal
research based on secondary data. Secondary data is data sourced from data that has been
documented in the form of legal materials. The study prioritizes secondary data sources,
namely in the form of primary, secondary and tertiary legal materials.3 The approach used is
the statutory approach (The Statute Approach), a description technique describes precisely
the characteristics of an individual, situation, symptom or certain group, or to determine the
spread of a symptom, or to determine whether there is a relationship between one symptom
and another in society.4
Discussion
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
Foreign Trade Transactions
Foreign trade transactions are a series of activities in a trade commonly known as
export-import trade. This trade is a simple transaction, which is buying and selling goods
between entrepreneurs who each reside in different countries. Trade activities can never be
separated from people's lives, especially in the fulfillment of goods and services.
However, not all goods and services needed are available in a country. This is due to
differences between countries, in terms of the geographical position of each country which
results in differences in natural resources, human resources, price levels, and economic
structure, so that the goods and services produced are different. To meet the needs of goods
and services that are not produced by itself, a country purchases goods and services from
other countries. The realization of meeting the need for goods and services is through
international trade.
Payment Methods in Foreign Trade Transactions
Foreign trade always creates two main activities, namely exports and imports. From
these export and import activities, the question then arises how to make payments in these
trade transactions?
Before discussing ways of payment in foreign trade, we should first know the factors that
cause this foreign trade. Factors that cause foreign payments include the following:
Buyers (importers) and sellers (exporters) are separated by national borders
Currency differences in each country
Communication between countries with the latest technology is so fast, but the
transportation of goods, especially heavy, tall and large, is still time-consuming.
Foreign payments are payments for transactions made by countries involved in foreign trade
based on previously negotiated agreements. Foreign payments are generally made through
banks. This is because the payment method is Cash is less practical when used for foreign
trade traffic. Therefore, other payment methods emerged.
In United States, based on the provisions of article 3 of Government Regulation No. 1 of
1982 concerning Export Import Procedures and Foreign Exchange Traffic, the method of
payment in export-import transactions can be done in the following ways:
Advance payment
Calculation then (Open Account)
Collection Draft
Consignment
Letter of Credit (L/C)
Other payment methods are common in foreign trade according to the agreement
between the seller and the buyer.
Basically, the government does not limit the use of other payment methods based on mutual
agreement, and even provides leeway so that the frequency of foreign trade activities
increases to increase foreign exchange and is useful for the course of national development.
Thus, exporters and importers who will conduct trade transactions can choose one of the
existing payment methods that are deemed appropriate and provide many advantages.5
Endorsements
Endorsement comes from the French word Endossement, and in English
Indorsement which means a statement written on the back of a securities letter. Endorsement
is an institution in bill of exchange law where the bill of exchange rights of the holder of the
bill of exchange can be transferred to the next holder in a simple manner. Or in other words,
an endorsement is a statement that transfers the right of collection on a bill of exchange from
the holder to another person.
Terms of Endorsement
Must be against the entire debt bill.
Unconditional declaration of trust.
Signature of the endorsing Endorsement.
Endorsements are divided into 4 types
Ordinary endorsement (Article 110 paragraph (1) KUHD)
A normal endorsement is to include the name of the endorsee in the draft.
Blank endorsement (Article 112 paragraph (2) of KUHD)
A blank endorsement is one in which the name of the person to whom the draft is
transferred is not included, nor is the signature of the receiving endorsement included
because it is filled in by the receiving endorsement itself.
Incasso endorsement (Article 117 KUHD)
An incasso endorsement is one in which the endorser, not the issuer, authorizes the
transferee.
Recta endorsement (Article 118 KUHD)
A recta endorsement is a name stamp, niet, anorder means not for transfer, meaning
that it is transferred only once.
In article 110 paragraph 3 of the KUHD, the endorsement can be made for the benefit of the
holder or aksekta, or the benefit of the issuer, and any other debtor of the draft. If the letter is
endorsed to the issuer, the position of the suspect or the accountant is the same as the
position of the holder.
According to Article 111 paragraph 1 of the KUHD, every endorsement must be
made unconditionally, any conditions stated therein are considered unwritten. The purpose
of this article is an endorsement that is connected with the condition that is not allowed,
because condition that little a lot will interfere with or hinder the holder from realizing
his/her right to collect.6
Negotiable Instruments
It is a means of payment (securities), for example: checks, transfer tools, collection
rights, in securities there are events of transfer or bearer of rights. This function is also called
a legitimization letter, meaning that the holder of the letter is given recognition by the letter
as the rightful one.
Letter Of Value securities
It is not a means of payment because it does not transfer, it is not a means or
evidence of a right of charge, a proof of self.
Clauses on securities
Agreed terms clause or agreed promise. The purpose of a securities clause is to
determine how to convey securities to another person.7
Aan Toonder (to bearer) on the tune / to the bearer
The meaning of bearer: the person who carries is the person who controls, for example, the
cheque sheet. The way this clause is worded is by passing it from hand to hand, which is the
law.
Aan Order (to order) upon substitution/appointed proxy
An object includes securities if it mengahlikan based on 2 things, namely :
Bezit is the transfer or possession of securities
Aigendom ownership is the transfer or control of ownership. 7 Hata. Legal and Non-
Legal Aspects of International Trade in the GATT and WTO Systems, STHB PRESS,
Bandung, 1998.
So this is for Aan order if we use the term power of attorney is not appropriate because the
power of attorney means not directing the aigendom how to transfer this clause, namely:
Endorsement, namely in article 631 (3) KUHPt BW and article 1110 KUHD.
Endorsement is a way of endorsing by mentioning the name of the next holder on the
back of the letter. Example: money order.
Opname (on behalf of) the name of the holder of the securities listed
How to transfer these securities is by Cessie article 631 (1) KUHPt (type of debt
securities), Cessie (transferring securities by deed between parties I, II, III, etc.).
Met on order (not to replacement)
The method of transfer is the same as cessie (money order) if you want to limit its
circulation then use a recta clause with the use of not to substitute. Money orders in
securities are the same as checks where in money orders payment can be delayed
(article 100 KUHD) money orders here are included in securities, because postal
money orders are included in valuable letters.
Closing
The existence of trade between nations in the world is a necessity that cannot be
avoided. Limited resources, shifting tastes, technological advances, and differences in
comparative advantage between countries are some of the reasons for international
trade transactions. The advantage of trade is that it is beneficial for both parties.
Commercial paper (negotiable instruments) is a means of payment in modern trade
transactions today. Securities are used as a substitute for money which has been used
as a medium of exchange in trade, especially by business people or entrepreneurs.
Endorsement in addition to the function of transferring the right of collection also
functions as a power to collect and guarantee the forest, every endorsement must be
unconditional. The legal effect of an endorsement is that everything legitimized by and
arising from the note passes from the endorser to the endorsee. Honest endorsers enjoy
the protection of the law.
