Law Of Moving Object Assurance Contract In Consumer Financial In Indonesia

Abstract

Aabstract:The grant of financial from financial institution is basically similar to credit grant by bank, in consumer financial institution, assurance is necessary to assure that the debtor is able to fulfill his obligation according to the financial contract signed by the parties. Beside trust assurance, in financial contract, material assurance contract is also done in moving object in fiduciary contract. It is regulated in Fiduciary Act, as moving object assurance contract institution on the basis of trust, with the provision that the object which ownership is to be transferred, will still under the authority of the owner or debtor. The certificate of fiduciary is made in Indonesian in front of Notary, and in order to use publicity principle for the creditor as the fiduciary receiver then Fiduciary certificate must be registered in Fiduciary Registration office so that the fiduciary has executorial power, similar to the verdict with its legal power. Financial institution as creditor on its own authority can execute the assurance object of the consumer/debtor for paying the debt if there is some failure in fulfilling the contract from the debtor side. Fiduciary contract provides the owner with a preliminary right or preferential right. It is a fiduciary right receiver to take the payment of the debt on execution of the fiduciary object. This right will not be lost by bankruptcy or liquidation of the debtor.