The Declaration of Solvency Form is a crucial document in Indonesian corporate governance, typically required during significant corporate events such as capital reductions, mergers, or when addressing concerns about financial stability. This declaration, mandated by Indonesian law, requires directors to make a formal statement about their company's financial position and ability to pay debts. The document must comply with Law No. 37 of 2004 on Bankruptcy and Law No. 40 of 2007 on Limited Liability Companies, and includes detailed financial information, projections, and supporting documentation. It serves multiple purposes: protecting directors by documenting their due diligence, providing assurance to stakeholders, and meeting regulatory requirements. The declaration must be witnessed by a notary public and may need to be filed with relevant regulatory authorities such as the Financial Services Authority (OJK).
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1. Company Identification: Full legal name of the company, registration number, and registered address
2. Director Details: Names and details of all directors making the declaration
3. Declaration Statement: Formal statement declaring the company's solvency and directors' reasonable belief
4. Financial Position Summary: Brief overview of current assets and liabilities
5. Basis of Declaration: Explanation of the grounds on which the directors have formed their opinion of solvency
6. Statutory Declaration: Formal declaration under Indonesian law regarding the truthfulness of the statements
7. Execution Block: Signature section for directors and witness/notary
1. Corporate Group Statement: Required when the company is part of a corporate group, detailing group financial relationships
2. Contingent Liabilities: Additional section needed when company has significant contingent liabilities
3. Recent Corporate Actions: Required when declaring solvency following major corporate actions like mergers or acquisitions
4. Creditor List: Optional detailed list of creditors when required by specific circumstances or regulations
5. Foreign Operations: Required when company has significant overseas operations or foreign currency exposures
1. Schedule A - Detailed Asset List: Comprehensive list of company assets with current market values
2. Schedule B - Liability Statement: Detailed breakdown of all current and long-term liabilities
3. Schedule C - Cash Flow Projections: 12-month cash flow forecast supporting the solvency declaration
4. Schedule D - Latest Financial Statements: Copy of most recent audited or management financial statements
5. Appendix 1 - Supporting Documents: List of additional documents reviewed in making the solvency assessment
6. Appendix 2 - Director Certificates: Copies of relevant director qualifications and professional memberships
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