The provision of loans or credit facilities typically involves collateral in the form of assets or personal guarantees. However, in the case of a syndicated credit facility between PT X and Bank ABC, a negative pledge is used as collateral. A negative pledge is a declaration clause stating that the debtor will not pledge any or part of its property or assets to other parties. The issue at hand is that Indonesia lacks specific regulations regarding negative pledges. In the absence of such regulations in Indonesia, a comparative legal approach is taken, drawing insights from Singapore, where specific regulations on negative pledges exist. The research method employed in this study is normative-empirical law, meaning it utilizes secondary data such as legal materials, secondary legal materials, and tertiary legal materials, complemented by primary data obtained through interviews. The research findings indicate that, while Indonesia does not have direct regulations on negative pledges, there are relevant provisions indirectly addressing the issue, including Article 8 paragraph (1) of Law No. 10 of 1998 concerning Banking, Article 1320 of the Civil Code, and the Principle of Freedom of Contract regulated in Article 1338 of the Civil Code. There are differences and similarities in the application of negative pledges to syndicated credit agreements.