A Bank Waiver is a crucial document in Indonesian banking practice, typically used when a borrower requires temporary or permanent relief from specific obligations or when technical defaults need to be addressed under existing facility agreements. The document is governed by Indonesian law and must comply with regulations from both Bank Indonesia and the Financial Services Authority (OJK). Bank Waivers are commonly issued in response to changing business conditions, temporary financial difficulties, or technical covenant breaches where the bank maintains confidence in the borrower's overall creditworthiness. The document should clearly specify the scope of the waiver, its duration, any conditions attached, and must be properly authorized according to the bank's internal policies and regulatory requirements. It serves as an important tool for maintaining constructive banking relationships while managing risk and regulatory compliance.
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1. Letter Header: Bank's letterhead, reference number, date, and formal letter formatting
2. Addressee Details: Full name and address of the borrower/client to whom the waiver is being granted
3. Reference to Facility: Clear identification of the underlying facility agreement or arrangement to which the waiver relates, including date and reference numbers
4. Background Context: Brief description of the circumstances leading to the waiver request and relevant facts
5. Waiver Declaration: Express and unequivocal statement of the specific provisions, requirements, or defaults being waived
6. Waiver Period: Clear specification of the duration or period for which the waiver is valid
7. Reservation of Rights: Standard clause preserving the bank's other rights under the facility agreement
8. Authorization Statement: Confirmation that the waiver is properly authorized by the relevant bank authorities
1. Conditions Precedent: Any conditions that must be satisfied before the waiver becomes effective - include when waiver is conditional
2. Fees and Costs: Details of any fees or costs associated with the waiver - include when there are charges for the waiver
3. Acknowledgment Section: Space for borrower's acknowledgment and acceptance - include when dual execution is required
4. Regulatory Disclosure: Specific regulatory requirements or disclosures - include when required by OJK or BI regulations
5. Related Party Consent: Reference to any required third-party or guarantor consent - include when other parties are involved in the facility
1. Schedule 1 - Facility Details: Detailed list of relevant facility agreements and their key terms being affected
2. Schedule 2 - Specific Provisions: Detailed listing of specific provisions being waived, if too extensive for main letter
3. Appendix A - Supporting Documents: List of any supporting documents or evidence referenced in the waiver
4. Appendix B - Required Approvals: Copies of relevant internal approvals or regulatory clearances if applicable
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Manufacturing
Real Estate and Property
Infrastructure and Construction
Mining and Resources
Trade and Commerce
Agriculture and Plantation
Telecommunications
Transportation and Logistics
Retail and Consumer Goods
Relevant Teams
Legal
Finance
Treasury
Risk Management
Compliance
Corporate Banking
Credit Administration
Corporate Secretariat
Account Management
Loan Operations
Relevant Roles
Chief Financial Officer
Finance Director
Treasury Manager
Bank Relationship Manager
Credit Risk Officer
Legal Counsel
Compliance Officer
Corporate Secretary
Financial Controller
Credit Administration Manager
Loan Officer
Corporate Banking Manager
Risk Management Director
Legal Director
Account Relationship Manager
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