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COVID-19 pandemic has caused difficulties;among them was financial distress This situation has led to the issue of force majeure The research aims to discuss the effect of the pandemic COVID-19 to payment to banks and other financial institutions in Indonesia, as to whether a force majeure event has happened and how to deal with it This research is descriptive-analytical, normative legal research It used secondary data, available for the public, consisted of primary legal sources and secondary legal sources with tertiary legal sources as a supplement Data obtained through the literature study were analyzed qualitatively The researcher conducted triangulation to maintain the validity and reliability of data Result finds out that the COVID-19 pandemic cannot be automatically used as force majeure reason concerning financial obligations The Government of the Republic of Indonesia has issued Government Regulation in Lieu of Law No 1 Year 2020 that provides contingency plans for financial institutions to handle the COVID-19 pandemic situation, which allowed banks and financial institutions to offer payment relaxation © 2020 Hamdard Foundation Pakistan All rights reserved
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Impact of COVID-19 pandemic to the payment obligations to banks and financial institutions;A perspective from indonesian laws and regulations
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