Subject to the provisions of this agreement, the lender undertakes to make available to the loan facility the amount provided for in Appendix I of this agreement, which will be paid by the operator into the lender`s bank account covered in Appendix I of the lender`s virtual account agreement. Accordingly, this agreement is signed with an electronic signature as defined in the legal form of the Republic of Indonesia No. 11 of 2008 regarding information and electronic transactions by the contracting parties or their valid representatives at the time of receipt of this agreement. An international treaty other than the one mentioned above is ratified by a presidential decree. It is clear that the loan agreement is, for the most part, ratified by Indonesian law by the form of the law, but that it is first seen in the terms of the loan agreement, promised by both parties, whether it is to be ratified or not, if it is not included, then ratification has not necessarily taken place. It should be noted that, in its development, it is the teaching of internationalization. Martin Dixon, in Textbook on International Law (p. 270-271), notes that this doctrine aims to provide greater protection to foreign private parties, whose positions are often contrary to the state government, when the agreement between them is governed by the national laws of the state side. According to this doctrine, agreements concluded by private parties with the state can benefit from the protection of international law. 3.
The treaty was part of the class of the “International Development Agreement”, which involved long-term aid to a state in a state and is an essential economic activity. Under international law, the status of Loan Contracts by the Indonesian Government with foreign lenders (hereafter referred to as “PPLN”), both bilaterally and multilaterally, that deal with loans such as the Asia Depelopment Bank (ADB) and the International Depelopment Bank (ADB), is enshrined in public international law.