Circular Letter No. 7/21/DPM Procedures for Safe Deposit of Securities, Important Documents and Valuables at Bank Indonesia

No. 7/21/DPM Jakarta, July 1, 2005
CIRCULAR LETTER
Concerning : Procedures for Safe Deposit of Securities, Important Documents and Valuables at Bank Indonesia With regards to the promulgation of Bank Indonesia Regulation Number 7/16/PBI/2005 dated July 1, 2005 concerning Safe Deposit of Securities, Important Documents and Valuables at Bank Indonesia (State Gazette of the Republic of Indonesia of 2005 Number 54, Supplement to the State Gazette of the Republic of Indonesia Number 4508), it is deemed necessary to stipulate the procedures for safe deposit of securities, important documents and valuables at Bank Indonesia as follows:
I. RECEIVING THE DEPOSIT
The procedure for receiving the Deposit is stipulated as the following:

1. The candidate Safe Deposit Users having the intention to place safe deposits
   of securities, important documents and valuables at Bank Indonesia shall deliver a written application signed by the authorized officer and delivered to:
   a. Directorate of Monetary Management, Bank Indonesia, Jl. M.H. Thamrin No. 2, Jakarta 10110, for candidate Safe Deposit Users having domiciled in the working area of Bank Indonesia Head Office. b. Bank … Unofficial Translation

b. Bank Indonesia Regional Office, for candidate Safe Deposit Users having domiciled in the working area of the local Bank Indonesia Office.
2. The written application as referred to in number 1 is submitted to Bank
Indonesia office according to the working area coverage as exemplified in
Appendix 1.
3. Bank Indonesia shall send a written notification concerning an acceptance or
rejection of an application to the candidate Safe Deposit User no later than 14 (fourteen) working days after receiving the letter of application.
4. In the event that an application is accepted, the candidate Safe Deposit User
must come to Bank Indonesia in person in order to bring and submit the following documents:
a. original copy of acceptance letter from Bank Indonesia as referred to in number 3; b. original copy of letter of assignment to place safe deposits at Bank Indonesia signed by the authorized managers or officers of the concerning institution;
c. a copy of valid self identification of the assigned officer as written in the
letter of assignment referred to in letter b; d. the item to be placed at Bank Indonesia.
5. Bank Indonesia shall match the deposited item with the item stated in the
letter of application witnessed by the Safe Deposit User;
6. A matching procedure as referred to in number 5 is conducted to ensure the
compliance of item to be placed to the applicable provisions.
7. In the event…

7. In the even that a Safe Deposit fails to comply with the applicable
provisions, Bank Indonesia shall reject the item to be placed in the safe deposit at Bank Indonesia.
8. In the event that a match has been found, Bank Indonesia and the Safe
Deposit User shall conduct the following steps:
a. package the deposited item; b. seal the safe deposit package;
c. sign the sealed safe deposit package;
d. fill in the information concerning the quantity, value and quality of the Safe Deposit in a Deposit Slip (BDS) as exemplified in Appendix 2; and e. sign the BDS as a legal proof for the receive of Safe Deposit.
II. COLLECTION OF SAFE DEPOSIT
The procedure for collecting the Safe Deposit on its due date or before the due date shall be stipulated as follows:
1. A Safe Deposit User may collect the Safe Deposit on the due date or before
the due date by submitting a written application to Bank Indonesia office issuing the BDS no later than 1 (one) working day before collecting the Safe Deposit.
2. Safe Deposit Users shall collect the Safe Deposit at Bank Indonesia office
issuing BDS by submitting the following documents:
a. original copy of letter of assignment to collect Safe Deposit placed at Bank Indonesia signed by the authorized manager or officer of the concerning institution; b. original …

b. original copy of BDS; and
c. a copy of valid self identification of the officer in charge of collecting the
Safe Deposit as written in letter of assignment referred to in letter a.
3. Bank Indonesia shall verify the authenticity of BDS.
4. In the event that a verification process results in a match, Bank Indonesia
shall release a Collection Slip (BPS) as exemplified in Appendix 3 signed by Bank Indonesia as a valid proof of a collection of a Safe Deposit and hand over the Safe Deposit.
5. In the event that a verification process as referred to in number 3 results in
discrepancies, Bank Indonesia shall reject the collection of the Safe Deposit.
III. REPLACEMENT OF BDS OWNED BY A SAFE DEPOSIT USER
The procedure of replacement of BDS owned by a Safe Deposit User is as follows:

1. Replacement of Lost BDS
   a. A Safe Deposit User must come to Bank Indonesia office issuing BDS and submit an application for a replacement of the lost BDS completed by:
   1) original copy of letter from the Police stating the lost of BDS;
   2) original copy of letter of assignment signed by the authorized
   manager or officer from the concerning institution; and
   3) copy of valid self identification of the officer as stated in the letter
   of assignment referred to in number 2). b. Based on …

b. Based on the letter of application referred to in letter a, Bank Indonesia shall verify the letter of application and the supporting documents with the second sheet of BDS administered at Bank Indonesia.
c. In the event of a verification referred to in letter b is found acceptable,
Bank Indonesia shall release a Replacement of BDS no later than 7 (seven) working days after receiving the letter of application for replacement of BDS and its supporting documents. d. A Replacement of BDS shall be signed by the Safe Deposit User and Bank Indonesia at Bank Indonesia office issuing the BDS. e. If a verification as referred to in letter b having a result in a discrepancies, Bank Indonesia shall reject to issue a Replacement of BDS.
2. Replacement of Damaged BDS
a. A Safe Deposit User must come to Bank Indonesia Office issuing BDS and submit a letter of application for a Replacement of Damaged BDS completed with the following:
1) copy of a letter with due revenue stamp issued by the concerning
institution stating the damage of DBS;
2) original copy of letter of assignment to conduct the replacement of
damaged BDS signed by the authorized manager or officer of the concerning institution;
3) copy of a valid self identification of the officer as written in the
letter of assignment referred to in number 2);
4) original copy of the damaged BDS.
b. Based on …

b. Based on the letter of application referred to in letter a, Bank Indonesia shall verify the letter of application and the supporting documents with the second sheet of BDS administered at Bank Indonesia.
c. If a verification as referred to in letter b is found acceptable, Bank
Indonesia shall issue a Replacement of Damaged BDS no later than 7 (seven) working days after receiving the letter of application and the supporting documents. d. A Replacement BDS shall be signed by the Safe Deposit User and Bank Indonesia at Bank Indonesia office issuing BDS. e. In the event that the verification referred to in letter b results in a discrepancies, Bank Indonesia shall reject the issuance of Replacement of BDS.
IV. TERM EXTENSION OF SAFE DEPOSIT
The procedure for extending the term for a Safe Deposit is as follows:

1. Safe Deposit User shall write a letter of application signed by the authorized
   manager or officer of the concerning institution to Bank Indonesia office issuing BDS completed with a copy of BDS of the Safe Deposit User.
2. The letter of application as referred to in number 1 must be received by Bank
   Indonesia office no later than 7 (seven) working days prior to the term due date of the Safe Deposit.
3. Based on the letter of application as referred to in number 1, Bank Indonesia
   shall give a written notification concerning an acceptance or rejection to the Safe Deposit …

Safe Deposit User no later than 7 (seven) working days after receiving the letter of application and its supporting documents.
4. In the event of an approved application, the Safe Deposit User must come in
person to Bank Indonesia to submit the following documents:
a. original copy of Bank Indonesia acceptance letter as referred to in number 3; b. original copy of BDS;
c. original copy of letter of assignment to conduct term extension of safe
deposit signed by the authorized manager or officer of the concerning institution; and d. copy of valid self identification of the officer as stated in the letter of assignment referred to in letter c.
4. Based on the letter of application referred to in number 1, Bank Indonesia
shall issue a Term Extension of BDS no later than 7 (seven) working days after accepting the letter of application and its supporting documents.
5. Term extension of BDS shall be signed by the Safe Deposit User and Bank
Indonesia at Bank Indonesia office issuing BDS.
V. SETTLEMENT OF OVERDUE SAFE DEPOSIT
The procedure for settlement of overdue Safe Deposit is as follows:
1. In the event that a Safe Deposit is categorized overdue, Bank Indonesia shall
give a written notification concerning to the settlement of overdue Safe Deposit no later than the end of the month following the due date of the Safe Deposit.
2. In the event …

2. In the event that a Safe Deposit User fails to give respond by the end of the
month following the date of the letter of notification referred to in number 1, Bank Indonesia shall turn over the overdue Safe Deposit to the authorities in accordance with the applicable laws and regulations.
3. In the event that a Safe Deposit User collecting an overdue Safe Deposit
before the Safe Deposit is turned over to the authorities as referred to in number 3, the procedure for Collection of Safe Deposit as referred to in II 2, 3, 4 and 5 shall be applied.
VI. TERMINATION OF OPERATION OF A SAFE DEPOSIT BY BANK
INDONESIA
The procedure for a termination of operation of a Safe Deposit by Bank Indonesia comprises the following:
1. Bank Indonesia shall give a written notification to a Safe Deposit User
concerning termination of the operation of a Safe Deposit and the reasons no later than 7 (seven) working days prior to the date of termination.
2. A Safe Deposit User must collect the Safe Deposit no later than 14 (fourteen)
working days after the date of the letter of notification for the termination of safe deposit operation as referred to in number 1.
3. The procedure for collection of safe deposits after the termination of safe
deposit operation by Bank Indonesia shall follows the provisions referred to in number II 2, 3, 4 and 5.
4. In the event…

4. In the event that a Safe Deposit User fails to collect the Safe Deposit as
referred to in number 2, the procedure of Settlement of overdue Safe Deposit as referred to in number V shall be applied.
VII. SETTLEMENT OF SAFE DEPOSIT DURING TRANSITION PERIOD
The procedure of settlement of Safe Deposit administered by Bank Indonesia before the enactment of this provision (transition period), shall be conducted as the following:
1. Bank Indonesia shall give written notification to a Safe Deposit User
concerning a safe deposit at Bank Indonesia that should be collected by the Safe Deposit User at Bank Indonesia office issuing BDS.
2. If a Safe Deposit User fails to collect the safe deposit as referred to in number
1 within 2 (two) days after the enactment of this provision, Bank Indonesia shall turn over the administration of the safe deposit to the authorities according to the applicable laws and regulations. This Circular Letter shall come into force on July 1, 2005. For the public to be informed, it is ordered that this Circular Letter be promulgated in the State Gazette of the Republic of Indonesia. Kindly be informed.

BANK INDONESIA,

BUDI MULYA
DIRECTOR OF MONETARY MANAGEMENT