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All Journal Rechtsnormen Journal of Law Asian Journal of Social and Humanities
Syahputra, M Arif
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Decision Sciences, Operations Research & Management Earth & Planetary Sciences Environmental Science Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice

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The Urgency of Risk Mitigation Strategies in Business Agreements Syahputra, M Arif; Santiago, Faisal
Rechtsnormen: Journal of Law Vol. 2 No. 4 (2024)
Publisher : Yayasan Pendidikan Islam Daarut Thufulah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70177/rjl.v2i4.1695

Abstract

Background: Business agreements are vital in establishing relationships between parties but are susceptible to various legal risks that may disrupt their execution. Such risks include unclear clauses, legal disputes, and unexpected legal changes, which can threaten the sustainability and stability of agreements. Objective: This study aims to emphasize the importance of risk mitigation strategies in business agreements to prevent disputes and ensure fair execution. It seeks to provide insights into effective risk management practices that contribute to the long-term stability of legal relationships. Methods: The research employs a qualitative approach, analyzing existing literature and case studies on risk mitigation techniques. It focuses on the role of protective clauses, dispute resolution mechanisms, and adaptability to evolving legal frameworks. Results: Findings indicate that robust risk mitigation strategies, including clear contract drafting, the use of force majeure clauses, and the implementation of internal legal systems, significantly reduce potential disputes and enhance agreement sustainability. Conclusion: Risk mitigation is an essential aspect of business agreements, requiring proactive measures from drafting to execution. By adopting effective strategies, businesses can foster stability, fairness, and efficiency in their legal relationships.
The Legal Vacuum in Bankruptcy Resolution Based on Sharia Contracts Syahputra, M Arif; Arief Fakrulloh, Zudan
Asian Journal of Social and Humanities Vol. 3 No. 3 (2024): Asian Journal of Social and Humanities
Publisher : Pelopor Publikasi Akademika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59888/ajosh.v3i3.454

Abstract

This research addresses the legal vacuum concerning the bankruptcy of sharia financial institutions in Indonesia, arising from the incompatibility between Law No. 37 of 2004 on Bankruptcy and Law No. 3 of 2006, which grants authority to Religious Courts in resolving sharia economic disputes. The unique operational principles of sharia financial institutions are not adequately accommodated within the current legal framework, leading to legal uncertainty, procedural challenges, and risks to public trust. This study aims to identify these legal gaps, analyze their implications, and propose solutions to ensure legal certainty and justice. Using a normative juridical method, the research focuses on analyzing relevant laws, legal doctrines, and fatwas issued by the Indonesian Ulema Council (MUI) while conducting a comparative study of best practices in other jurisdictions. The findings reveal that the absence of specific regulations, limited technical capacity of Religious Courts, and insufficient legal literacy among stakeholders exacerbate the problem. To address this, the research proposes the creation of specific regulations tailored to sharia bankruptcies, the enhancement of Religious Court capacities, stakeholder education, and the active role of MUI in issuing fatwas as legal guidelines. These measures are expected to foster legal certainty, procedural fairness, and public trust in the sharia finance sector while ensuring a just and efficient dispute resolution system.
Co-Authors Arief Fakrulloh, Zudan Faisal Santiago, Faisal