Document background
The Application For Credit Facility Letter is a crucial document in the Indonesian banking sector, used when individuals or businesses seek to obtain credit facilities from financial institutions. It serves as the formal initiation of the credit application process and must comply with Indonesian banking regulations, particularly Law No. 10 of 1998 on Banking and various OJK regulations. The document captures essential information about the applicant's financial position, credit requirements, and proposed security arrangements, enabling the bank to conduct proper credit assessment. It includes mandatory declarations and consents required under Indonesian law, such as authorization for credit checks and verification of provided information. This document is typically used at the preliminary stage of credit facility arrangements and forms the foundation for subsequent credit documentation if the application is approved.
