Circular Letter No. 6/39/DASP Clearing Fees

Unofficial Translation
No. 6/39/DASP Jakarta, September 16,2004 C I R C U L A R L E T T E R To ALL COMMERCIAL BANKS IN INDONESIA Subject : Clearing Fees

As an implementation of Bank Indonesia Regulation Number 1/3/PBI/1999 dated August 13, 1999 concerning Local Clearing and Final Settlement on Interbank Payment Transaction for Local Clearing Results (State Gazette of the Republic of Indonesia Year 1999 Number 139, Supplement to State Gazette of the Republic of Indonesia Number 3873), lastly amended by Bank Indonesia Regulation Number 2/14/PBI/2000 dated 9 Juni 2000 concerning Second Amendment to Bank Indonesia Regulation Number 1/3/PBI/1999 concerning Local Clearing and Interbank Payment Transaction for Local Clearing Results (State Gazette of the Republic of Indonesia Year 2000 Number 88), Bank Indonesia has stipulated provisions on Clearing fees in a Bank Indonesia Circular Letter. In relation to that, the use of Identity Tag in Local Clearing which will be in stages integrated with the electronic security system in Bank Indonesia Head Office and Bank Indonesia Local Offices and the plan to provide Clearing Result Data Recording in the form of Compact Discs (Clearing CD Facility), makes it necessary to amend regulations concerning Clearing fees. Therefore, adjustments in provisions concerning Clearing fees need to be made as
follows : I. Types ...............

I. TYPES AND AMOUNT OF FEES
A. Electronic Local Clearing

1. Fees for electronic local Clearing are as follows:
   a. Administrative Fee of Rp100,000 (one hundred thousand rupiah) per month charged to each Direct Active Participant (PLA) and Passive Direct Participant (PLP); b. Processing Fees :
   1) processing fee for Inward Clearing Documents of Rp1,000
   (one thousand rupiah) per Electronic Financial Data (DKE);
   2) Fee processing for Outward/Return Clearing Documents of
   Rp10,000 (ten thousands rupiah) per DKE.
2. Participant will be charged a fee of Rp100,000 (one hundred thousands
   rupiah) for the making of a Clearing Officer Identity Tag (TPPK) to be used for Proximity TPPK with a magnetic stripe and without a magnetic stripe.
3. In the event that there are Documents unreadable by the reader sorter
   machine (Document Reject) and the number exceeds 2% (two percent) of Documents submitted, Participant will be charged a Document Reject fee of Rp1,000 (one thousand rupiah) per Document using the following provisions :
   a. If Document Reject was caused by :
   1) stating of ..........

1) stating of nominal value information in the form of Magnetic
Ink Character Recognition (MICR) on a cheque and bilyet giro; and
2) stating of all information in the form of MICR on Documents
other than cheque and bilyet giro,
Document Reject fee will be charged to the Participant submitting the Document. b. If Document Reject was caused by stating of information other than nominal value in the form of MICR on a cheque and bilyet Giro, the Document reject Fee will be charged to the Participant receiving the Document. In the event that the number of rejected Documents exceeds 2% (two percent), the calculation of Document Reject Fee shall be made on the basis of all rejected Documents processed that day. The provisions on Document Reject fee as set forth above do not apply to Inward Clearing Documents with large nominal value.
4. Participants using Long Distance Clearing Information System (SIKJJ)
facility will be charged a fee of Rp100,000 (one hundred thousand rupiah) per month.
5. Participant using Clearing CD Facility will be charged with a fee under
the following provisions :
a. Permanent Users will be charged Rp20,000 (twenty thousand rupiah) per CD.
b. Non permanent.........

b. Non Permanent Users will be charged Rp25,000 (twenty five thousand rupiah) per CD.
c. Re-recording request for Clearing CD will be charged Rp25,000
(twenty five thousand rupiah) per CD.
B. Automated Local Clearing

1. Fee for automated Local Clearing consists of:
   a. Administrative Fee of Rp25,000 (twenty five thousand rupiah) per month charged to each direct and indirect Participant. b. Processing Fee, consisting of :
   1) processing Fee for Inward Clearing Documents of Rp1,000
   (one thousand rupiah) per Document.
   2) processing Fee for Outward/Return Clearing Documents of
   Rp10,000 (ten thousand rupiah) per DKE.
   2. Participants will be charged a fee for the making of TPPK as follows:
   a. TPPK Proximity with a magnetic stripe or without a magnetic stripe, each will be charged Rp100,000 (one hundred thousand rupiah); b. TPPK without Proximity and with a magnetic stripe will be charged Rp17,500 (seventeen thousand five hundred rupiah), while TPPK without Proximity and without a magnetic stripe will be charged Rp5,000 (five thousand rupiah).
   3. In the event .......

3. In the event that the number of Document rejected exceeds 2% (two
percent) of Document submitted, the Participant will be charged with a Document reject fee of Rp1,000 (one thousand rupiah) per Document under the following provisions:
a. If Document reject was caused by:
1) stating of nominal value information in the form of MICR on
a cheque and bilyet giro; and
2) stating of all information in the form of MICR on Documents
other than cheque and bilyet Giro,
Document reject fee will be charged to the Participant submitting the Document. b. If Document reject was caused by stating of information other than nominal value in the form of MICR on a cheque and bilyet giro, the Document reject fee will be charged to the Participant receiving the Document. In the event that the number of rejected Documents exceeds 2% (two percent), the calculation of the Document Reject fee will be based on all rejected documents processed that day. The provisions of Document reject fees as set forth above do not apply to Inward Clearing Documents with large nominal value.
4. Participants using SIKJJ facility will be charged Rp100,000 (one
hundred thousand rupiah) per month.
5. Participants using Clearing CD Facility will be charged under the
following provisions : a. Permanent .......

a. Permanent Users will be charged Rp20,000 (twenty thousand rupiah) per CD. b. Non Permanent Users will be charged Rp25,000 (twenty five thousand rupiah) per CD.
c. Clearing CD re-recording request will be charged Rp25,000
(twenty five thousand rupiah) per CD.
C. Semi Automated Local Clearing

1. Fees for semi automated Local Clearing are as follows:
   a. Inward Clearing Fee of Rp500 (five hundred rupiah) per DKE; b. Outward/Return Clearing Fee of Rp5,000 (five thousand rupiah) per DKE.
2. Specifically for local Clearing Participant whose Organizer is another
   party with approval from Bank Indonesia, charging of fees as set forth in number 1 only applies if the concerned Local Clearing Organizer satisfies the requirement in item I.C.4 of Bank Indonesia Circular Letter Number 1/4/DASP dated 29 November 1999 concerning Approval For Other Parties To Organize Local Clearing in Areas Without a Bank Indonesia Office as amended by Bank Indonesia Circular Letter Number 3/25/DASP dated 28 November 2001 concerning Amendment to Bank Indonesia Circular Letter Number 1/4/DASP dated 29 November 1999 concerning Approval For Other Parties To Organize Local Clearing in Areas Without a Bank Indonesia Office.
3. Participants will be charged for the making of Clearing Participant
   Representative Identity Tag (TPWPK) as follows : a. TPWPK .......

a. TPWPK Proximity will be charged Rp100,000 (one hundred thousand rupiah); b. TPWPK without Proximity will be charged Rp5,000 (five thousand rupiah). D. Manual Local Clearing Considering that the number of Documents traded in manual local Clearing by Organizers other than Bank Indonesia is not very large and since such Organizers still receive funding from Bank Indonesia, Manual Local Clearing Organizers are not allowed to charge any fees to Participants.
II. OTHER FEES FOR ELECTRONIC, AUTOMATED, AND SEMI AUTOMATED
CLEARING SYSTEMS
A. In the event that a Participant requests a Report on Clearing Result and a List of Clearing Fee Charged repeatedly, such Participant will be charged Rp10,000 (ten thousand rupiah) per report. B. The repeat request for a Report on Clearing Result and a List of Clearing Fee Charged as referred to in letter A may be processed by Organizer if submitted not later than 30 (thirty) days after issuance of such Report on Clearing Result and a List of Clearing Fee Charged.
C. In the event that a Participant in automated and Electronic Local Clearing
submits a request for a Document Copy, such Participant will be charged Rp1,000 (one thousand rupiah) per sheet.
III. Calculation .......

III. CALCULATION AND CHARGING OF FEES IN ELECTRONIC, AUTOMATED,
AND SEMI AUTOMATED CLEARING SYSTEMS
A. Organizer calculates the fees as set forth in number I and II at the end of each month and imposes the charges no later than the first week of the following month using the following method :
1. Debitting each Participant’s Giro (Demand Deposit) Account at the
Organizer for Local Clearing organized by Bank Indonesia.
2. Issuing a Debit Note charged to Participant through Clearing for local
Clearing organized by other parties approved by Bank Indonesia. B. Organizer issues a list to each Participant regarding the Clearing fees charged after debitting the Participant’s Giro Account. The list will be provided by Organizer for each Participant to be picked up with the Document and Clearing Result Report.
IV. CHARGING OF FEES BY PARTICIPANTS TO THEIR CLIENTS
1. Since the Organizer charges fees towards participants in electronic, automated,
and semi automated local Clearing, in order to promote a smooth Clearing operation, Participants may also charge fees to their clients.
2. Participants are required to announce the amount of Clearing Fees charged by
Bank Indonesia. The announcement should be in writing and placed in areas clearly visible to clients in each office of the Participants.
V. CLOSING
With .............

With the implementation of this Bank Indonesia Circular Letter, Bank Indonesia Circular Letter Number 4/13/DASP dated 24 September 2002 concerning Clearing Fees is declared no longer valid. Provisions in this Circular Letter start to take effect as of September 16, 2004. For the public to be informed, it is hereby ordered that this Circular Letter be promulgated in the State Gazette of the Republic of Indonesia. Kindly be informed. BANK INDONESIA, MOHAMAD ISHAK DIRECTOR OF ACCOUNTING AND PAYMENT SYSTEM