Appendix to the Regulation of the Head of the Commodity Futures Trading Regulatory Agency Number 08/BAPPEBTI/PER-SRG/7/2008 regarding Warehouse Receipt Transfer Procedures and Guidelines

APPENDIX TO THE REGULATION OF THE HEAD OF THE COMMODITY FUTURES TRADING REGULATORY AGENCY
NUMBER: 08/BAPPEBTI/PER-SRG/7/2008
DATE: JULY 24, 2008

A. FLOWCHART OF WAREHOUSE RECEIPT TRANSFER PROCEDURE B. TECHNICAL GUIDELINES FOR WAREHOUSE RECEIPT TRANSFER
C. FORMS IN WAREHOUSE RECEIPT TRANSFER

1. Model Form Number SRG-OPR.10: Model for Reporting Warehouse Receipt Transfer
2. Model Form Number SRG-OPR.11: Model for Confirmation of Receipt of Warehouse Receipt Transfer Report

HEAD OF THE COMMODITY FUTURES TRADING REGULATORY AGENCY, DEDDY SALEH

A. FLOWCHART OF WAREHOUSE RECEIPT TRANSFER PROCEDURE

Transferor and Transferee of Warehouse Receipt sign an Authentic Deed (in the case of Warehouse Receipts in the form of Bearer Instruments); or Transferor of Warehouse Receipt endorses the Warehouse Receipt (in the case of Warehouse Receipts in the form of Order Instruments).

Transferor of Warehouse Receipt delivers the Warehouse Receipt to the Transferee of Warehouse Receipt.

Transferee of Warehouse Receipt becomes the new Holder of the Warehouse Receipt.

Prospective Transferee of Warehouse Receipt can obtain information regarding the status of the Warehouse Receipt to be transferred from the Registration Center through the Holder of the Warehouse Receipt or the Warehouse Manager.

Registration Center, through the Holder of the Warehouse Receipt and/or the Warehouse Manager, provides information regarding the status of the Warehouse Receipt to be transferred to the Prospective Transferee of Warehouse Receipt.

Transferor of Warehouse Receipt reports the occurrence of the Warehouse Receipt transfer to the Registration Center (SRG-OPR.10).

Registration Center conducts verification that:
(i) the party transferring the Warehouse Receipt is the legitimate Holder of the Warehouse Receipt; (ii) the validity period of the Warehouse Receipt is still more than 5 (five) days; and (iii) the Warehouse Receipt is not currently pledged.

Yes/No
Yes
No

Registration Center notifies that the Warehouse Receipt cannot be transferred along with the reasons.

Registration Center conducts the book transfer of ownership of the Warehouse Receipt from the transferring party to the receiving party of the Transfer.

Registration Center sends the Confirmation of Receipt of Transfer Report (SRG-OPR.11) to:
a. the party transferring the Warehouse Receipt; b. the party receiving the transfer of the Warehouse Receipt; and
c. the Warehouse Manager.

B. TECHNICAL GUIDELINES FOR WAREHOUSE RECEIPT TRANSFER

I. BACKGROUND
To realize the orderly and regular implementation of the Warehouse Receipt System, it is necessary to establish various requirements and procedures that must be fulfilled by every party conducting activities in the field of the Warehouse Receipt System, including issuance, transfer, pledge, and settlement of Warehouse Receipt transactions.

As a negotiable instrument, Warehouse Receipts can also be transferred to third parties. The regulation of Warehouse Receipt transfers covers the requirements and procedures for transferring Warehouse Receipts in the form of Bearer Instruments and Warehouse Receipts in the form of Order Instruments, as well as the electronic transfer of Warehouse Receipts in the form of Non-Instrumental (Without Instrument). In conducting the transfer of Warehouse Receipts, the transferring party is required to register it with the Registration Center.

To ensure that the implementation of Warehouse Receipt transfers is carried out in accordance with applicable laws and regulations, and to provide legal certainty and guarantee public interests, it is necessary to regulate the technical guidelines for Warehouse Receipt transfers.

II. REFERENCES
The references used in compiling these technical guidelines are based on, among others:
a. Laws and regulations and implementing regulations related to the Warehouse Receipt System, namely:

1. Law Number 9 of 2006 concerning the Warehouse Receipt System;
2. Government Regulation Number 36 of 2007 concerning the Implementation of Law Number 9 of 2006 concerning the Warehouse Receipt System;
3. Relevant laws and regulations and implementing regulations related to these technical guidelines.
   b. ISO 9001:2000 Quality Management System.

III. DEFINITIONS

1. SRG-Online
   Is an integrated Warehouse Receipt accounting system with the Bappebti supervision system, provided and maintained by the Registration Center, which is accurate, current, secure, trustworthy, and reliable.

2. Warehouse Receipt Account
   Is an account issued by the Registration Center and given to each Holder of the Warehouse Receipt to bookkeep every Warehouse Receipt owned by them.

3. User Code (User ID)
   Is the user identity given by the Registration Center to each Holder of the Warehouse Receipt, which can be used to access the Warehouse Receipt Account and related information.

4. Secret Code (password)
   Is the user password given by the Registration Center to each Holder of the Warehouse Receipt, which can be used to access the Warehouse Receipt Account and related information.

IV. TRANSFER OF WAREHOUSE RECEIPT
Transfer of Warehouse Receipt can only be done at the latest 5 (five) days before the Warehouse Receipt matures, and Warehouse Receipts that have matured cannot be transferred. Transfer of Warehouse Receipt is conducted with the following procedures:

1. Transfer of Warehouse Receipt in the form of Bearer Instruments is conducted with an authentic deed accompanied by the delivery of the Warehouse Receipt.

2. Transfer of Warehouse Receipt in the form of Order Instruments is conducted with endorsement accompanied by the delivery of the Warehouse Receipt.

3. The party transferring the Warehouse Receipt is required to notify the transfer of the Warehouse Receipt to the Registration Center using Model Form Number SRG-OPR.010 through SRG-Online, at the latest on the day following the transfer of the Warehouse Receipt.

4. The Registration Center receives the report of the Warehouse Receipt transfer and conducts verification that: (i) the party transferring the Warehouse Receipt is the legitimate Holder of the Warehouse Receipt; (ii) the validity period of the Warehouse Receipt is still more than 5 (five) days; and (iii) the Warehouse Receipt is not currently pledged.

5. The prospective transferee of the Warehouse Receipt can obtain information regarding the status of the Warehouse Receipt to be transferred along with its ownership from the Registration Center through the party conducting the transfer or through the Warehouse Manager.

6. The Registration Center provides confirmation of the verification results to the party transferring the Warehouse Receipt.
   a. In the event that one or more of the verified conditions are not met, then the Warehouse Receipt cannot be transferred.

b. In the event that all confirmed conditions are met, the Registration Center conducts the book transfer of ownership of the Warehouse Receipt from the transferring party to the party receiving the Transfer.

7. In the event that the transferee does not yet have a Warehouse Receipt Account, the Registration Center will first provide a Warehouse Receipt Account as the new Holder of the Warehouse Receipt, along with the user identity (user id) and secret access code (password) from the Registration Center.

8. The Registration Center sends the Confirmation of Receipt of Transfer Report via SRG-Online using Model Form Number SRG-OPR.011 to the party transferring the Warehouse Receipt, the party receiving the transfer of the Warehouse Receipt, and the Warehouse Manager at the latest on the following day.

C. FORMS IN WAREHOUSE RECEIPT TRANSFER

MODEL FORM NUMBER SRG-OPR.10

Number: ............... , ...........................20..
Attachment:
Subject: Report of Warehouse Receipt Transfer To:
Director of PT….......................
as the Registration Center of the Warehouse Receipt System in - JAKARTA

Hereby we submit a report on the transfer of Warehouse Receipts. As consideration material, we hereby submit the following data:

1. Data Regarding the Transferred Warehouse Receipt
   a. type of Warehouse Receipt: Bearer Warehouse Receipt or Order Warehouse Receipt *) b. name and address of the goods owner: ..............................................................., address: .................................................... .........................................., …………….. (City & Postal Code)
   c. name and address of the previous RG holder (if previously transferred): ................................................................, address: .................................................... ................................................., ………….- (City & Postal Code)
   d. name and location of the warehouse: ..............................................................., address: ................................................... ................................................., ………….. (City & Postal Code) e. date of issuance of Warehouse Receipt: ....../......./20.....s.d. ......./....../20......- duration (........) days.
   f. issuance number of Warehouse Receipt: .................................................................
   g. description of goods: .................................................................

2. Identity of the Party Transferring the Warehouse Receipt
   a. Reporter Name: .................................................................
   b. Identity Number (ID Card/Passport) *) : .................................................................
   c. Reporter Position: .................................................................
   d. Reporter Address: ................................................................. (City & Postal Code) .................................................., ………- (City & Postal Code)
   e. NPWP) : .................................................................
   f. Proof of transfer attached: .................................................................
   g. Telephone Number, e-mail and Facsimile: ................................................................

3. Identity of the Party Receiving the Transfer of Warehouse Receipt
   a. Receiver Name: .................................................................
   b. Identity Number (ID Card/Passport) *) : .................................................................
   c. Receiver Position: .................................................................
   d. Receiver Address: ................................................................. ...................................................., ……….. (City & Postal Code)
   e. NPWP) : .................................................................
   f. Proof of transfer attached: .................................................................
   g. Telephone Number, e-mail and Facsimile: .................................................................

This report is submitted, and we thank you for your attention.

Reporter
(..............................................)
(Clear Name)

*) Choose One
) If Applicable

MODEL FORM NUMBER SRG-OPR.11

Number: ............... , ...........................20...
Attachment:
Subject: Confirmation of Receipt of Warehouse Receipt Transfer Report

To:

1. Mr. .........................
   as the party transferring the Warehouse Receipt
   in .........................
2. Mr. .........................
   as the party receiving the transfer of the Warehouse Receipt
   in .........................
3. Director of PT .........................
   as the Warehouse Manager
   in .........................

Hereby we convey confirmation that the data of the transferred Warehouse Receipt is as follows:
a. type of warehouse receipt: Bearer Warehouse Receipt or Order Warehouse Receipt *) b. name and address of the goods owner:
c. location of the warehouse where goods are stored:
d. date of issuance:
e. issuance number:
f. maturity time:
g. description of goods:

has been reported and the transfer of ownership has been recorded from the old Holder of the Warehouse Receipt:

Name:
Holder Address:
Identity Number: Type of Identity: ID Card/Passport *) NPWP) :

becoming transferred ownership to the new Holder of the Warehouse Receipt:

Name:
Address:
Identity Number: Type of Identity: ID Card/Passport *) NPWP) :

This confirmation letter is submitted, and we thank you for your attention.

Registration Center

---

Name:
Position:
*) Choose one
) If Applicable