Analysis Of Electronic Credit Agreements Related To Peer-To-Peer Lending Signed Electronically Using The Director's Personal E-sign Account Without An Electronic Seal

Asmuharto, Sabrina Permata

Pena Justisia: Media Komunikasi dan Kajian Hukum
Vol. 24 No. 1 (2025): Pena Justisia

Peer-to-peer lending (hereinafter referred to as "P2P Lending") is the provision of funding services that brings together lenders and borrowers through an internet-based electronic system. Since it was officially regulated in Indonesia at the end of 2016, the use of P2P Lending has continued to grow rapidly and has become an important part of the financing ecosystem in Indonesia. Until early 2025, the amount of debt Indonesian citizens obtained through P2P Lending platforms was recorded to have increased significantly to reach trillions of rupiah. In the implementation of P2P Lending, Article 154 of the Financial Services Authority Regulation Number 40 of 2024 on Information Technology-Based Joint Funding Services stipulates that credit agreements between the lender and borrower must be signed electronically. An electronic signature ("E-sign") serves to guarantee the identity, integrity, and non-repudiation of the agreement. Further on the legal developments, Government Regulation Number 71 of 2019 concerning the Implementation of Electronic Systems and Transactions, which is strengthened by Law Number 1 of 2024 concerning the Sec ond Amendment to Law Number 11 of 2008 concerning Information and Electronic Transactions introduces the concept of an electronic seal. This electronic seal serves to guarantee the origin, integrity, and completeness of electronic information or documents, specifically those used by business entities or institutions. Based on these developments, this study seeks to examine the impact of not using an electronic seal in a P2P Lending credit agreement, especially in cases where the recipient of funds and/or the lender is a business entity, and the agreement is only signed using the Director's personal E-sign account. This study uses a normative legal method with a statutory approach, to analyze: (1) the validity of P2P Lending credit agreements without electronic seals, and (2) the evidentiary power of the credit agreement, especially in the event of a dispute between the lender and the borrower.