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The Security Account Control Agreement is a crucial document in secured financing arrangements under Indonesian law, typically used when a lender requires security over a debtor's financial assets held in an account. This agreement is essential in transactions where account control is a key component of the security package, such as in project finance, corporate lending, or structured finance transactions. The document establishes the rights and procedures for the secured party to exercise control over the account, while defining the role and protections of the securities intermediary. It must comply with Indonesian banking regulations, OJK requirements, and Law No. 10 of 1998 on Banking, among other relevant regulations. The agreement is particularly important in the Indonesian context where specific regulatory requirements must be met for creating and perfecting security interests over financial assets.

1. Parties: Identifies the three main parties: Account Holder, Secured Party, and Securities Intermediary/Bank

2. Background: Explains the context of the agreement, including reference to the underlying credit facility or security agreement

3. Definitions: Defines key terms used throughout the agreement, including Account, Control, Security Interest, etc.

4. Account Control and Security Interest: Establishes the secured party's control over the account and confirms the security interest

5. Rights and Obligations of Securities Intermediary: Details the bank/securities intermediary's responsibilities regarding account maintenance and instructions

6. Account Operation: Specifies how the account will be operated, including authorized signatories and instruction procedures

7. Instructions and Notices: Details the process for giving instructions regarding the account and required notices

8. Representations and Warranties: Contains standard representations from all parties regarding authority, binding nature, etc.

9. Security Intermediary's Rights and Protections: Outlines the protections and indemnifications for the securities intermediary

10. Fees and Expenses: Details the fees payable to the securities intermediary and allocation of expenses

11. Term and Termination: Specifies the duration of the agreement and termination procedures

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

13. Miscellaneous: Contains standard boilerplate provisions including amendments, notices, severability, etc.