About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

42 J.L. Pol'y & Globalization 1 (2015)

handle is hein.journals/jawpglob42 and id is 1 raw text is: Journal of Law, Policy and Globalization www.iistor2 ISSN 2224-3240 (Paper) ISSN 2224-3259 (Online) Vol.42, 2015 lllb Pledge Agreement on a Pledge Business Tin Sri Hartini,* Ahmadi Miru**, Ahdullah Marlang***, Mustafa Bola**** *Phd Student, Postgraduate Hasanuddin University and Lecturer at Legal Study Colleage Umel Mandiri Jayapura ** Professor of Legal Science, Hasanuddin University and also as Promotor *** Professor of Legal Science, Hasanuddin University and also as Co-Promotor **** Professor of Legal Science, Hasanuddin University and also as Co-Promotor Coresponding Email:iin hartini74@ yahoo.co.id Abstract Pledgeis one of the non-bank financial institutions that lend money / credit to its customers based on the law of pledge. The lend money/credit is preceded by the credit agreement between the creditor and the debtor in terms of lending and borrowing money which is then followed by the submission of a moving object as a guarantee of repayment.In principle the goods (pledge) can be used to secure any obligations of certain achievements. It means that the agreement ofpledge will only exist if there is a principal agreement that had previously existed. The principal agreement is an agreement that raises the legal relationships of repayment-payablethat are guaranteedto material moving, both tangible andintangible. The purpose ofpledge is to provide legal certainty for creditors by guaranteeing repayment of its receivables from pledged objects, if the debtor defaults.Although the basic pledge is trust, but still made the loan agreement as the principal agreement. In the loan agreement with guaranteed pledge, there are two parties in the agreement: (1) parties (creditors) who receive pledge, and (2) the debtorswho guarantee pledge. Furthermore, its assessoir agreement is the pledgeagreement itself. Keywords: Pledge agreement, pledge business. 1. Introduction The needs of everyday life of human beings cannot be fulfilled by them. It is because they do not have sufficient funds. In terms of it, if there are no goods sold, they will seek loans on others.The development of economic communityhas stimulated person to get a loan through financing services either bank financial institutions or non-bank financial institutions such as pledge. To meet the needs of people who are considered as urgent needs, the government provides services in credit-based on pledge for those who borrow from these services, called pledge. The pledge itself is one of the credit institutions that are handled by the government under the auspices of the Minister of State Enterprises. The aim of the government to establish such credit institutions is expected to assistthe financial needs of the community urgently especially among lower middle income people. Pledge services are an effort from the Government to help people, especially the economically weak by channeling credit assistance to meet the needs of everyday life. In addition,it also acts to prevent people from loan sharks and illegal bank that will only make them entangled in a more complicated problem in terms of repayment. Mostly, the lending rates of the loan sharks and illegal bankare very high. As one of the non-bank financial services institution, PT.Pegadaian (Indonesian pledge institution) tries to improve the function and its role in supporting economic development. It provides credit on the basis of the legal pledge to the community, especially the middle class such as traders and small businessmen. Loan disbursement is done in a way that is easy, fast, and safe. This condition creates an easy situation for the people to loan and do not give rise a new problem for the borrower after the loan in pledge. Customers do not need to sell their goods, but goods are only a pledged of the credit application. Until right now, the pledge has several times changed its status. The changed status has started as a State enterprise (PN) since January 1, 1961. It was then asBureau Company Pledge (PERJAN)under the Government Regulation No. 7 of 1969 on PledgeBureau Company (PERJAN). It continued to change based on the Government Regulation No. 10 Year 1970 concerning Amendment to Government Regulation No. 7 of 1969 on Pledge Bureau Company;the Government Regulation No. 103 of 2000 onPledge Public Company (Perum); and the Government Regulation No. 51 Year 2011 on Amendment of Legal Entity of PledgePublic Company (Perum) to become Limited Company (Persero). The pledge is one of the non-bank financial institutions that lend money / credit to its customers based on the law of pledge. It is preceded by the credit agreement between the creditor and the debtor in terms of lending and borrowing money which is then followed by the submission of a moving object as a pledge of repayment. Provisions to deliver lien (pledge) goods to the lien holder creditor or a third party are an absolute element of a pledge.So that it becomes mandatory rule. If this element does not exist, then the pledge shall be null and void. Similarly, when pledgegoods switch back to the the pledgor (debtor) when the pledge is still ongoing, then the lien even considered null and voidby operation of law. Although the basic pledge is trust, but still made the loan agreement as the principal agreement. In the loan 1Munir Fuady, Debt Pledge Law, Penerbit Erlangga, Jakarta, 2013,p. 152.

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Short-term subscription options include 24 hours, 48 hours, or 1 week to HeinOnline.

Purchase Access

Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most