Auction Draft Bill Introduces New Rules on Digital Auctions and Appraisals

The Government, through the Legislation Committee (Badan Legislasi – “Baleg”) of the House of Representatives of the Republic of Indonesia (“DPR RI”), continues to refine the Draft Bill on Auctions (“Draft Bill”). The Draft Bill is intended to modernize auction practices in Indonesia, which continue to rely on regulations inherited from the Dutch colonial era, as well as the auction implementation guidelines stipulated under Regulation of the Minister of Finance No. 122 of 2023 on Auction Implementation Guidelines (“PMK 122/2023”).

“We need to refine the Auction Draft Bill to ensure that all auction procedures result in a win-win solution for the parties involved,” said Bob Hasan, Chairman of the DPR RI Legislation Committee, to Hukumonline.

In addition to providing legal certainty, the Draft Bill is also intended to facilitate the adoption of a digital-based auction system. This includes establishing transparent and equitable appraisal standards for objects subject to auction disputes. “We aim to complete the Bill by the end of this year at the latest,” he added.