THE POLICY OF WAREHOUSE SYSTEM IN INDONESIA : A STUDY OF THE INTEGRATION OF LOCAL WISDOM AND GLOBALIZATION 1

Transcription

1 THE POLICY OF WAREHOUSE SYSTEM IN INDONESIA : A STUDY OF THE INTEGRATION OF LOCAL WISDOM AND GLOBALIZATION 1 Siti Zulaekhah 2 she.tea9875@gmail.com Ratna Herawati 3 Ratna_h27@yahoo.com Abstract As the agragrian country that most of the people life form agriculture, the Indonesian farmers always faced to classical problem, i.e. capital limited in plantation time and the bad price of commodity. From historical side proved that the farmers have been had tradition tunda jual system as their local wisdom. It s mean keeping when low price and releasing when high price for those agricultural commodity. This manuscript writing aims is to describe the policy of warehouse system in Indonesia and to analyze the integration between tunda jual system as the local wisdom of Indonesian farmers and the other hand collateral management agreemen as the globalization value in its policy. This research uses doctrinal approach with statute and comparative study method. In accordance of those methodology, secondary data only All use ini this research : positive law about warehouse receipt system in Indonesia also in many countries as the object of this research. The research showed that there are historical fact that the policy of ware house receipt system in Indonesia had been initiated by ceel but with limited funcion as the document of keeping goods in warehouse. As long as the time, it has developed by farmers community lumbung padi and gadai padi that inherrent of local values of tunda jual system. This study proved that the recent policy of warehouse system in Indonesia is an integration between tunda jual system and collateral management agreement. Keywords: warehouse receipt system, tunda jual system, local wisdom, globalization, collateral management agreement. 1 This manuscript presentation is supported and licence by The Adimintrator of Education Financial Agency (LPDP) 2 Ph.D Candidate of Doctoral Degree of Law Universitas Diponegoro, Indonesia and also the lecturer of law faculty Universitas Pekalongan, with specified subject matter investment law and corporate law. 3 The lecturer of Law Faculty Universitas Diponegoro Indonesia with specified subject matter Pancasila. 427

2 A. BACKGROUND One of the goals of national development is to create a just and prosperous society based on Pancasila and the 1945 Constitution of the Republic of Indonesia in the unified state unit of the Republic of Indonesia which is free, united, and people's sovereignty in a safe, peaceful, orderly, and dynamic environment. National development as the practice of Pancasila covering all aspects of the nation's life is held together between the community and government. The community as the main actors of joint development of the government is obliged to direct, guide, protect, and foster a conducive atmosphere. Among the developments in this context is the development of peasant communities that are not only limited to physical development, but also nonphysical development. Physical development of farmers, among others, development in the form of procurement of agricultural facilities and infrastructure such as irrigation, agricultural mechanization tools, provision of seeds and other needs. Meanwhile, non-physical development is done through the formation of mindset, resources, and awareness of farmers. The second development is directed to the farmer's habit or culture ie the attitude to delay the sale of crops when the fall prices are expected to encourage food security, both national and local. This is in line with the opinion of Imam Santosa 4 on the other hand even argue that the opportunity for every individual to access the food is a universal human rights so that each country is obliged to protect and respect the human rights of its citizens in terms of food security. Thus, the action of the peasants in sustaining food security is done in order to fulfill the human rights of others. In principle, the structure of agrarian society of Indonesia, which is largely a farmer has trained the habit of indirectly selling the yield but withholding it first with the main purpose of meeting the needs of food during the coming famine season. 4 Imam Santosa, 2014, Pengembangan Masyarakat Berbasis Sumberdaya Lokal, Yogyakarta:Pustaka Pelajar, hlm

3 On the other hand, Indonesia's interaction with other countries in this era of globalization is unavoidable and because equality of interests, especially in trade activities, leads to the adoption of trade practices, including its internationally enforced institutions. The facts indicate that the trigger of such interaction is the financial institution and banking because of the very nature of its business is open. It also directly impacts the formulation of state policies, including the establishment of laws that frame the policy. The development policy is based on the legal basis of Law Number 9 Year 2006 as amended by Act Number 9 of 2011 on Warehouse Receipt System (WRS). One aspect of the WRS policy is the availability of new guarantees which is a solution to farmers' problems where they have been trapped in capital problems. Whereas in fact, farmers have untapped assets (crops stored in warehouses) and on the other hand farmers need capital / funding that requires the existence of collateral. Collateral is in the form of fixed assets (land and building) that is very difficult to meet the farmers as required by formal financial institutions. In addition, the difficulties of MSMEs, including farmers in accessing credit due to information between MSMEs and creditors are asymmetrical 5 ie information owned by prospective borrowers against the creditor more than information owned by creditors to prospective borrowers. This information has two disadvantages: adverse selection and moral hazzard. The dominance of formal financial institutions positioned farmers on three main issues, namely the availability of funding institutions (availability), access to finance institutions (accesability), ability to access to the financing institution (ability) H.S. Dillon 6 criticized the existence of a formal financial institution. According to him, formal financial institutions generally more often provide convenience to large businesses that meet technical banks. As for small 5 Josep E.Stiglitz and Andrew Weis, 1981, Credit Rationing in Market in Imperfect Imformation 6 H.S. Dillon, 1999, Pertanian Membangun Bangsa, Jakarta : Pustaka Sinar Harapan, hlm

4 businesses, many considerations so that the distribution of bank credit schemes can not run in accordance with what is expected. So far, financial institutions in Indonesia are more extractive than representative. That is, financial institutions in carrying out their business consider the expansion of banking services rather than considering the representation of small or weak groups including farmers. Based on the explanation, financial institutions or financing institutions have a very important role for farmers. The success of programs for improving the competitiveness of small businesses is highly dependent on the role of financial institutions 7 that serve to facilitate the flow of funds, mobilize public funds, and provide funds for economic activities of small businesses. In the era of free trade supported by sophisticated technology, the function of financial institutions becomes increasingly important because it will minimize the costs so that the competitiveness of small businesses is increasing. Financial institutions can not be separated from credit institutions that develop very dynamic. However, the dynamics of the institution has not been accompanied by adequate legal instruments. With regard to the dissemination of credit, the cheap credit system for the development of the people's economy in order to achieve the objectives must be socially reformed, namely that the emancipation of the people's economy can only be accomplished by restructuring by fundamentally correcting dialectical economic relations done in two ways. First, organize the people's economy. Second, systematic efforts to realize a balance in the mastery of economic resources. The government's direct policies 8 for small and medium-sized enterprises, including agriculture in the form of lending, but close the opportunities for small and medium enterprises because they are not given the opportunity to compete openly. The political economy is not in line with the policy of credit disbursement due to business exclusion small medium 7 Sritua Arief, 2002, Ekonomi Kerakyatan Indonesia Mengenang Bung Hatta, Solo : Universitas Muhammadiyah Surakarta Press, hlm Didik J. Rachbini, 2001, Ekonomi di Era Transisi Menuju Demokrasi Ekonomi, Jakarta : Ghalia Indonesia, hlm

5 enterprises through a distorted set of policies based on favouritism, market blockade, and the use of political capital of power to pursue economic rents so as to close the opportunities of small and medium enterprises. Based on the description, the system delayed selling through the means of food barns affirmed its function to the level of credit function by not denying the presence of collateral management, management agencies or more polpuler with the term CMA because of the influence of globalization. B. RESEARCH PROBLEM 1. How is the policy of Warehouse Receipt System in Indonesia? 2. Is it true that WRS policy in Indonesia is an integration of local wisdom and globalization C. RESEARCH METHODOLOGY 1. Approach Method This research using doctrinal 9 approach is research on the law which is conceptualized and developed on the basis of the doctrine adopted. In this study, the law is conceptualized as the norms of written legislation authorized by a sovereign government Research Approach This research uses sub-approach of doctrinal or normative law in the form of approach using statute and comparison of approach. This approach is used because it integrates the characteristics of the domestic WRS law method which is accommodated from the postponement system of selling and practice in other countries for similar systems namely the collateral management agreement (CMA). 3. Data Type As a normative legal research, the data used in the form of secondary data covering primary, secondary, and tertiary legal materials. The 9 Soetandyo Wignjosoebroto, 2002, Hukum, Paradigma, Metode, dan Dinamika Masalahnya, Jakarta : ELSAM, hlm Ibid, hlm

6 primary legal material is a binding legal material covering 11 : the basic norm of Pancasila, the basic rule: the body of the 1945 Constitution, the decrees of the MPR, the law, the customary law, the jurisprudence and the treaty. The laws and regulations of this study include the statutory regulations directly related to WRS such as Law No. 9 of 2006 as amended by Act No. 9 of 2011 on WRS, Act No. 1 of 2016 on Guarantee. The implementing regulations include Government Regulation Number 36 of 2007 as amended by Government Regulation No. 70 of Secondary legal materials are legal materials that are closely related to primary legal materials and can help analyze and understand the material of the first category law. The secondary legal materials used in this study include the Academic Paper Law on Guarantee. Tertiary legal materials are legal materials are materials that provide information about primary legal materials and secondary legal materials such as bibliography and cumulative index. 4. Data Collection Method Data is collected by library search techniques, both library data and legal data. The type of legal material collected is tailored to the needs and serves as a guide in analyzing all research problems. 5. Data Analysis Method Data analysis is done through three stages 12 of data reduction stage, data display, and conclusion. The data collected and recorded in the field is selected or sorted so that it becomes readable data. Data reduction took place during the course of the study. Data that has been "cleaned" then modeled or displayed as a collection of information arranged systematically. The final step of this analytical activity is the withdrawal and verification of conclusions that existed in the previous two steps (parallel) to construct the general domain of analysis activities. 11 Rony Hanitijo Soemitro, 1990, MetodologiPenelitian Hukum dan Jurimetri, Jakarta :Ghalia Indonesia, hlm Emzir, 2012, Metodologi Penelitian Kualitatif Analisis Data, Jakarta : Djambatan, hlm

7 D. RESULTS AND DISCUSSION The questions in this paper focus on WRS policy descriptions and an analysis of the intersection between local wisdom and globalization in the form of collateral management agreements or CMAs practiced in some countries. Therefore, to deliver an analysis of the answers to the two formulation problems, first described the conception and understanding of local wisdom according to experts and according to the law. Once revealed, to answer really the delayed sale system that has been ditradisikan the farmers, categorized as local wisdom. At the same time, due to the urgent need for international business activities, in some other countries also adopt a similar practice known as CMA. This paper seeks to critically examine the CMA, both in terms of understanding, patterns, up to its application in some countries. 1. THE POLICY OF WAREHOUSE RECEIPT SYSTEM IN INDONESIA In Indonesia, institutions similar to the Warehouse Receipt System (WRS) have actually been practiced by the veem entrepreneurs (as owners and managers of warehouses used to stockpile), as evidence of hoarding, the veem entrepreneur publishes a piece of paper containing information on stored goods or dumped in a veem called ceel. This institution only creates a legal relationship between the veem entrepreneur and the person who entrusts the goods without any government intervention. Ceel 13 gives the holder the right to demand the delivery of the goods mentioned in the document. Especially for the commodities stored in the form of crops, the Indonesian people actually have long known the institution of food security in its form that is still very simple and traditionally managed the sale delay system attached to the food barn and pawn grain. However, in the view of Bustanil Arifin 14, granary and grain plots are not financially feasible, making it difficult to 13 HMN. Purwosutjipto, 2000, HukumDagang Indonesia 7:Hukum Surat Berharga, Jakarta : Djambatan, hlm Bustanul Arifin, Kelembagaan Lumbung dan Gudang Pangan, http :// diakses pada tanggal 04 Oktober

8 develop with economic principles to support food security. Therefore, as the modernization, the institution is strengthened by WRS which in Indonesia is based on Law Number. 9 of 2006 as a juridical footing. Nevertheless 15, the embryo of this system existed around 2002 through Warehouse Receipt Financing at PT. Sucofindo as collateral manager, Indonesian exporters obtained credit from foreign banks with commodity collateral. In March 2003 a Pilot System of Warehouse Receipt was launched in Makassar through a 3 (three) agreement namely Bank Niaga, cocoa exporter, and PT. Bhanda Ghara Reksa (collateral manager). Commodities included in the Warehouse Receipt pilot are cocoa in Makassar and coffee and pepper in Bandar Lampung. In 2005, PT. Indonesian Commodity Market (PASKINDO) has implemented Warehouse Receipt System to Patra Mekar farmer group in Indramayu, West Java and rice trader in Cipinang Rice Market (PIBC) with commodity of dried rice and dried rice. PASKINDO was accompanied by PT (Persero) Kliring Berjangka Indonesia as Clearing and Guarantee and finally in 2006, PASKINDO was trusted to assist the distribution of Warehouse Receipt from the Ministry of Cooperatives and UMKM R.I. through PT. (Persero) Indonesian Derivatives Clearing House to Farmers Groups, Cooperatives, and small industries. Based on the above description, it can be concluded that historically at the beginning of its development, WRS is more directed to the development of new guarantee institutions by using Warehouse Receipt as a guarantee. Warehouse Warehouse as an instrument or means of payment for the commodities stored in the warehouse that also functions as hedging (hedging) because the sale is done by waiting for the best price of the commodity. The buyer is not bothered with transporting the physical objects of the commodity but simply by receiving the Warehouse Receipt. In addition, the existence of these institutions is 15 Dean Novel dan Sriyanto, System Resi Gudang sebagai System Pembayaran Perdagangan, systempembayaran-perdagangan, diakses pada tanggal 10 Agustus

9 16 Ibid intended to reduce the role of the government in stabilizing prices because transactions are entirely left to the parties. Based on several aspects of the function of the explanation of the existence of Warehouse Receipt System in Indonesia shows that the institution has developed in such a way and no longer limited to the function of ceel whose use is still limited as a proof of storage of goods in the veem. In this world is known 3 (three) model warehouse receipt system consisting of model 16 : Regulated Elevator Company, General Warehousing, and Private Trader. The first type model embodies the characteristics in which the elevator company is a group of companies consisting of palawija traders, trading companies, and farmers' cooperatives registered to and supervised by government agencies / institutions. The general warehousing model is general warehousing, where operators receive product storage and other commodities and they generally provide additional services but do not engage in trading. This type of warehousing also involves in the development of warehousing in the field by providing services management to warehouses owned by farmers, traders, and manufacturing industries and issued a warehouse receipt that can be used as a tool to obtain loans from banks. This system does not demand much of the government's role. The third model, Private Trader provides warehousing services by large corporations such as multinational corporations with high credit rating so that only large entrepreneurs can access this model. Development of Warehouse Receipt System in Indonesia does not refer to the three systems practiced by some countries in the world, but based on the warranty so that the model used is the Warranty Receipt System model. It is based on the involvement of PT. (Persero) Indonesia Derivatives Clearing at the beginning of development or embryo Warehouse Receipt System. Nevertheless, Law Number 9 Year 2006 on Warehouse Receipt System does not support the model. Through the amendment to the law with the issuance of Law Number 9 Year

10 The main change is the confirmation of the presence of Warehouse Receipt guarantees to convince creditors as well as the party entitled to the commodities stored in the warehouse. 2. THE INTEGRATION OF LOCAL WISDOM AND GLOBALIZATION IN THE POLICY OF WAREHOUSE RECEIPT SYSTEM POLICY IN INDONESIA Before analyzing the integration of local wisdom and globalization in the WRS policy in Indonesia, it is necessary to first disclose the conception or understanding of local wisdom, either by law or by experts. One of the laws that include the definition of local wisdom is Law no. 32 of 2009 on Environmental Management as described in Article 1 point 30. According to these provisions, local wisdom is the noble values prevailing in the life of the community to protect and manage the environment in a sustainable way. Sartini 17, interpreted local wisdom as the noble values passed down from the past, which is also interpreted local ideas that are wise, full of wisdom, good value, embedded and followed by members of the community. Next I Ketut Gobyah, defines local wisdom (local genius) as a truth that has been traditionally or steadily in an area. Local wisdom is a blend of sacred values of God's Word and various values. Local wisdom is formed as a cultural superiority of the local community as well as geographical conditions in a broad sense and is a grip of life for the local community. Local wisdom 18 is defined as the true policies or values inherent in local cultures and derived from cultural values. Imam Santosa 19 stated that local wisdom becomes the value and norm of binding relationships social relationships with strengthened 17 Sartini, Ni Wayan.2009.Menggali Nilai Kearifan Lokal Budaya melalui Ungkapan (Bebasan, Saloka, dan Peribahasan). Jurnal Ilmu-ilmu Bahasa dan Sastra, Vol. V, No. 1 April, tahun 2009, hlm , Universitas Sumatera Utara 18 Armaidy Armawi, Local Wisdom : A Solution to Supass Hedonism Effects on Environmental Polution, Indonesian Journalof Geography, Vol. 42, No. 2, Desember 2010, p

11 sense of solidarity, caring, and the spirit of cooperation among the people. The cultural value system 20 is a series of abstract concepts that live in the minds of most of the citizens of a society, about what should be considered important and valuable in life and serve as a guide and a driver of human behavior. This value system consists of five concepts. First, in the face of life, one has to value the joyful elements of life, and that there is misery, disaster, sin, and evil in life must be realized, but they are to be improved. Secondly, as the impetus of all human works, it must be highly valued the conception that people intensify their work to produce more works. Third, in response to nature, one must feel a desire to be able to dominate nature and its rules. Fourth, in all life activities, one must be as much as possible oriented toward the future. Fifth, in making decisions, one must be oriented towards one another, rate high co-operation with others, without undervaluing the quality of the individual and without avoiding his own responsibility. This fifth concept is based on the mutual cooperation of mutual cooperation in some concepts, in nature and society, people do not live alone, therefore, one should always maintain good relations with others and as far as possible not try to stand out on their own. Reflecting on the fifth value system as mentioned above, in the system of postponed selling attached noble values in the form of a balance between the interests of individuals to utilize the good or benefit of his efforts at the same time oriented to the interests of others in order to contribute to ensure food security. The orientation of peer interest that is even recognized as a human right on the decision of individual farmers is local wisdon whose existence is highly dependent from the community, in this case the farmer. 19 Imam Santosa, ibid, hlm Koentjaraningrat, 2007,Manusia dan Kebudayaan di Indonesia, Cetakan keduapuluhdua, Jakarta : Djambatan, hlm

12 The Business News tabloid defines the postponement of selling as an effort to postpone the sale of agricultural commodities at harvest time to avoid a low purchase price, for subsequent sale when the price starts to improve. Based on the definition, the nature of postponement of selling is the effort of farmers to make a choice of attitudes on the results of the harvest that gives benefits to himself with a fixed attention to common interests. The selling delay system which is the food institutional consists of subsystem of farmer / owner of agricultural product, combination of farmer group (gapoktan) domiciled as manager of crop and debtor store in this case receiver of pawn or financial institution. This system has two aspects of interest namely individual interests and public interest. The first interest is the habit of holding back the crops at a low price and selling them at a high price so that they enjoy the benefits of their toil. While the public interest is still associated with the aspect of individual interests that the habit of taking the right attitude to the harvest resulted in the effect of food security that applies to all human interests. On the other hand, as a global citizen, globalization has positioned Indonesia not to turn a blind eye to the possibility of a chain effect. Globalization has positioned all countries to be unable to be alone and to be involved in international relations. According to Francis Fukuyama, globalization has made the world without walls between one country with another unlimited state (borderless) nation. For example, financial and banking institutions that are the most open to the influence of other countries contribute to the modernization of food institutionalization. The same institution abroad is a collateral management agreement involving three parties: borrower (owner of crop / harvest), collateral manager (collateral manager), and financial agent (financial institution or banking). When compared, the two institutions are in principle the same only in CMA institutions are professionally managed and actually organized based on business principles. Warehouse 438

13 Receipt System as a form of legality of food institutions in principle integrates local wisdom of the system of postponement of selling and globalization of the presence of management institutions such collateral CMA collaterals. Both institutions also share the same value of individual benefits as well as efforts to maintain food security as a public interest. The Business News tabloid 21 defines the postponement of selling as an effort to postpone the sale of agricultural commodities at harvest time to avoid a low purchase price, for subsequent sale when the price starts to improve. Based on the definition, the nature of postponement of selling is the effort of farmers to make a choice of attitudes on the results of the harvest that gives benefits to himself with a fixed attention to common interests. The selling delay system which is the food institutional consists of subsystem of farmer / owner of agricultural product, combination of farmer group (gapoktan) domiciled as manager of crop and debtor store in this case receiver of pawn or financial institution. This system has two aspects of interest namely individual interests and public interest. The first interest is the habit of holding back the crops at a low price and selling them at a high price so that they enjoy the benefits of their toil. While the public interest is still associated with the aspect of individual interests that the habit of taking the right attitude to the harvest resulted in the effect of food security that applies to all human interests. On the other hand, as a global citizen, globalization has positioned Indonesia not to turn a blind eye to the possibility of a chain effect. Globalization has positioned all countries to be unable to be alone and to be involved in international relations. According to Francis Fukuyama 22, globalization has made the world without walls between one country with another unlimited state (borderless) nation 21 diakses pada tanggal 02 Oktober Francis Fukuyama, 1999, The End of History and The Last Man (terjemahan Amrulloh) Jogjakarta: Kalam 439

14 For example, financial and banking institutions that are the most open to the influence of other countries contribute to the modernization of food institutionalization. The same institution abroad is a collateral management agreement involving three parties: borrower (owner of crop / harvest), collateral manager (collateral manager), and financial agent (financial institution or banking). When compared, the two institutions are in principle the same only in CMA institutions are professionally managed and actually organized based on business principles. Warehouse Receipt System as a form of legality of food institutions in principle integrates local wisdom of the system of postponement of selling and globalization of the presence of management institutions such collateral CMA collaterals. Both institutions also share the same value of individual benefits as well as efforts to maintain food security as a public interest. Dian Rositawati 23 states that globalization encourages and changes complex legal configurations. As global linkages are increasing, transborder transactions and communications are increasingly widespread the need to create so that transnational laws arise. Globalization has also led to increased expansion of the international legal regime in public and private law areas. The relationship between local wisdom (culture of farmers' selling delay) as the basis for legal formation by accommodating CMA practices in other countries in the SRG Law is answered by consensus or international agreement "westphalia". One of the changes that occurred because of the agreement "westphalia" 24 of which is the dependence among nations in the field of economy and the state becomes dominant actors and move themselves without outside influence of the national sovereignty is the theory of law 23 Dian Rositawati, Kedaulatan Negara dalam Pembentukan Hukum di Era Globalisasi, Jakarta : Buku Obor, hlm berpikir.com/perjanjian-westphalia-dalam-hubungan-internasional, diakses pada tanggal 28 September

15 that gives the state unlimited power over all interests, both both inside and outside the country or in relation to other countries. In relation to the flow of foreign capital, in this paper capital derived from financial institutions, globalization coupled with the influx of foreign capital inflows, causing the movement of the metropolitan economy in developing countries, including Indonesia is fast moving. In a short time, the region is integrated with the global economy, but it does not completely involve all segments and the economy of society. Finance under a collateral management agreement is a method for securing finances on physical commodities. CMA is formed by involving three parties consisting of financial institutions, owners of commodities, and managers of collateral. This agreement is very flexible with the main principle of commodity acceptance and commodity management removing commodities in accordance with the agreement and according to the commodity owner's instructions. E. CONCLUSION 1. Conclusion Warehouse Receipt SYSTEM Policy Policy in Indonesia is published because the need for financial facilities for capital development on a collateral basis that initially involves foreign banks. WRS is developed based on the traditional retirement system that farmers have adopted by adapting the agreement / agreement on collateral management. Therefore, WRS expands the scope so that it is not only utilized by farmers but also by importers, exporters, processors, planters and other parties. 2. Recommendation Although WRS can be accessed by borrowers other than farmers, the government should give special treatment to farmers so that in the implementation of legislation, farmers as the main target of WRS policy gets adequate legal protection. Thus, farmers benefit from the prevailing WRS policies in Indonesia. 441

16 ACKNOWLEDGEMENT We would like to extend our gratitude to the Institute for Funds Management (LPDP), The Administrator of Financial Education Agency who has facilitated the funding of this International Seminar in the form of Grand Research. Buku References H.S. Dillon, 1999,Pertanian Membangun Bangsa, Jakarta : Pustaka Sinar Harapan Francis Fukuyama, 1999, The End of History and The Last Man (terjemahan Amrulloh) Jogjakarta, Kalam Dian Rositawati, 2009, Kedaulatan Negara dalam Pembentukan Hukum di Era Globalisasi,kumpulan tulisan HUKUM YANG BERGERAK : Tinjauan Antropologi Hukum, Editor Sulistyowati Irianto, Jakarta : Buku Obor Sritua Arief, 2002, Ekonomi Kerakyatan Indonesia Mengenang Bung Hatta, Solo : Universitas Muhammadiyah Surakarta Press Didik J. Rachbini, 2001, Ekonomi di Era Transisi Demokrasi Ekonomi, Jakarta :Ghalia Indonesia Emzir, 2012, Metodologi Penelitan Kualitatif Analisis Data, Jakarta : PT. Radjagrafindo Persada H.M.N. Purwosutjipto, Pengertian Pokok Hukum Dagang Indonesia 7: Hukum Surat Berharga, Jakarta : Djambatan) Rony Hanitijo Soemitro, 1990, Metodologi Penelitian Hukum dan Jurimetri, Jakarta : Ghalia Indonesia Soetandyo Wignjosoebroto, 2002, Hukum Paradigma, Metode, dan Dinamika Masalahnya, Jakarta : ELSAM Jurnal Ilmiah Sartini, Ni Wayan.2009.Menggali Nilai Kearifan Lokal Budaya melalui Ungkapan (Bebasan, Saloka, dan Peribahasan). Jurnal Ilmu-ilmu Bahasa dan Sastra, Vol. V, No. 1 April, tahun 2009, Universitas Sumatera Utara Armaidy Armawi, Local Wisdom : A Solution to Supass Hedonism Effects on Environmental Polution, Indonesian Journal of Geography, Vol. 42, No. 2, Desember

17 Web Site berpikir.com/perjanjian-westphalia-dalam-hubunganinternasional, diakses pada tanggal 28 September diakses pada tanggal 26 September diakses pada tanggal 02 Oktober 2017 Dean Novel dan Sriyanto, Sistem Resi Gudang sebagai Sistem Pembayaran Perdagangan, system-pembayaran-perdagangan, diakses pada tanggal 10 Agustus