Implementation of Law Number 42 Year 1999 in the Execution of Fidusia Securities

Along with the development of the business, there have been so many facilitators who offer credit to companies or individuals. Meanwhile, if you hear the word credit, it is not far from accounts receivable, where accounts receivable or other transactions cannot be based on the principle of trust alone. Therefore, it must be accompanied by a guarantee that convinces the interested parties, both the debtor and the creditor, in the form of a fiduciary guarantee. The definition of fiduciary according to article 1 point (1) of Law Number 42 of 1999 reads "fiduciary is the transfer of ownership rights to an object on the basis of belief with the stipulation that the object whose ownership rights are transferred remains under the control of the owner of the object". Meanwhile, the definition of fiduciary security according to article 1 point (2) is "fiduciary security is the right to movable objects, both tangible and intangible and immovable objects, especially buildings that cannot be encumbered with Mortgage Rights as referred to in Law Number 4 of 1996. concerning Mortgage Rights (Law No.4 of 1996 concerning Mortgage Rights) which remains under the control of the Fiduciary, as collateral for the settlement of certain debts, which gives the Fiduciary priority over other creditors ”. Fiduciary agreements are generally stated in the form of a notary deed with the aim of providing legal certainty. In practice, the use of this fiduciary guarantee institution is very often used by companies, banks or individual interests, with the aim of securing assets in a credit agreement. Thus, the binding of an object with a fiduciary guarantee prior to the existence of a credit agreement as the principal agreement. In the activities of these accounts payable it is also not uncommon if there is no event of default where there must be execution of the goods that are the object of the fiduciary security