Knowing Differences In Gadai And Fidusia In Borrowing And Borrowing With Guarantee
YOGYAKARTA - There are two forms of property guarantees that are common in Indonesia, namely pawning and fiduciary. Although its function both guarantees debt repayment, it has fundamental differences in the mechanism, mastery of objects, and the legal process. So what are the differences between pawns and fiduciary?
Understanding the differences between pawns and fiduciary is very important, both for the general public and business actors. By understanding it, you can choose the right type of guarantee as needed. So let's get to know more about the difference between pawns and fiduciary.
Gadai is a form of property guarantee in which the debtor submits his movable object to the creditor as collateral for the debt. In pawning, the object that is guaranteed is in the power or control of the creditor as long as the debt has not been repaid.
This is in accordance with the provisions of Article 1150 of the Civil Code (KUH Perdata). The law states that pawning is a right obtained by a creditor for a moving object, which is handed over to him by a debtor, to guarantee a debt.
A real example of pawn transactions can be seen in Pegadaian services, where people pawn valuables such as gold, vehicles, or electronics as loan guarantees. After the debt is repaid, the goods will be returned to the owner.
Fidusia is a form of guarantee of object on moving objects, both tangible and intangible, where the object remains under the control of the debtor.
However, the property rights are legally transferred fiducially to creditors as collateral. Fidusia is regulated in Law Number 42 of 1999 concerning Fiduciary Guarantee.
In fiducial, debtors can still use or take advantage of guaranteed objects. For example, motorized vehicles purchased by credit.
Even though the vehicle is under the control of the owner (debtor), his rights are on the creditor until the debt is paid off. After the debt is paid off, the property rights fully return to the debtor.
Here are some important pawn and fiduciary differences to understand
The choice between pawning and fiduciary depends on the needs and conditions of debtors and creditors. If a debtor needs fast funds and is ready to hand over objects physically, pawning can be the right choice. However, if the debtor still needs this object for daily activities (for example vehicles), then fiduciary is more appropriate.
For finance companies, fidusia provides stronger legal certainty because of the official registration process. Meanwhile, pawning is more suitable for small-middle-scale loans with a fast and simple process.
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