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The Global Collateral Account Control Agreement serves as a crucial document in secured financing arrangements, particularly in cross-border transactions involving Indonesian parties or assets. This agreement type is typically used when a lender requires security over bank accounts or investment accounts as collateral for financing facilities. The document establishes the mechanism through which the secured party can perfect and maintain its security interest under Indonesian law while allowing the account holder to continue normal operations until a trigger event occurs. It includes detailed provisions for account operation, control mechanisms, and the rights and obligations of all parties involved, ensuring compliance with Indonesian banking regulations and the Financial Services Authority (OJK) requirements. The agreement is particularly relevant in the context of international financing transactions where Indonesian accounts serve as collateral.

1. Parties: Identifies and provides details of the Account Holder/Pledgor, Secured Party, and Account Bank/Custodian

2. Background: Sets out the context of the agreement, including reference to underlying security arrangements and purpose of the account control agreement

3. Definitions and Interpretation: Defines key terms used throughout the agreement and establishes interpretation principles

4. Appointment and Status of Account Bank: Establishes the role and authority of the account bank/custodian

5. The Account: Details of the controlled account(s), including account type, number, and permitted activities

6. Control and Access Rights: Specifies the control mechanisms, access rights, and authority levels of each party regarding the account

7. Operating Procedures: Details day-to-day operational procedures, including instructions, confirmations, and reporting requirements

8. Security Interest and Rights: Confirms and details the security interest over the account and related assets

9. Representations and Warranties: Standard representations and warranties from each party

10. Bank's Rights and Duties: Specific obligations, rights, and protections of the account bank

11. Fees and Expenses: Details of fees, costs, and expense allocation

12. Indemnification: Indemnification obligations of the parties

13. Amendments and Waivers: Procedures for modifying the agreement and effect of waivers

14. Term and Termination: Duration of the agreement and termination procedures

15. Notices: Communication procedures and contact details

16. Governing Law and Jurisdiction: Specifies Indonesian law as governing law and jurisdiction for disputes

17. General Provisions: Standard boilerplate provisions including severability, entire agreement, counterparts