Several Problems on the Implementation of Fiduciary
Guarantee Execution on Four Automotive Financing
Companies after the Constitutional Court Decision
Number 18/PUU-XVII/2019
Ning Adiasih
1
, Ho Lioeng Min
2
, Suci Lestari
3
{ning.a@trisakti.ac.id
1
, lioeng.min@gmail.com
2
, sucilestari@trisakti.ac.id
3
}
Universitas Trisakti, Jakarta, Indonesia
1,2,3
Abstract. The execution of a fiduciary guarantee on the vehicle financing
practice often creates problems even though the position of the recipients of the
fiduciary guarantee is strong, as mentioned in Indonesia’s Law No. 42/1999. If
the agreement is broken, the execution of the fiduciary guarantee can be carried
out in three ways: (1) the execution through the executorial title, (2) the sale of
the object of the fiduciary guarantee, and (3) the sale under the hand based on an
agreement between the giver and the recipient of the fiduciary. After the
Constitutional Court Decision No. 18/PUU-XVII/2019 is issued, there are
additional provisions, namely agreement on the broken promise which needs to
be included and voluntary submission concerning the object of fiduciary. This
study was conducted on four automotive financing companies after the
Constitutional Court Decision No. 18/PUU-XVII/2019, whose implementation
was different. The type of this study was normative legal research with a
descriptive approach. In addition, the data used were secondary data which were
analyzed qualitatively. The results of the study can be concluded that (1) there
are different interpretations of the regulations of the execution of fiduciary
guarantees, (2) there are requirements that are difficult to fulfill, and (3) there
are contradictions in several court decisions. The recommendations offered are
that technical guidelines need to be made to support legal certainty in the
execution of fiduciary guarantees.
Keywords: fiduciary guarantee; execution
1 Introduction
A financing company is a financial service institution that is often contacted when people
need financing facilities for purchasing automotive vehicles. The current operation of the
financing company’s business refers to the Financial Services Authority Regulation No.
35/POJK.05/2018 concerning the Implementation of the Financing Company’s Activities. In
accounts payable activities, as the case mentioned previously, it often requires a handover of
debt guarantee from the party borrowing money (the debtor) to the party lending money (the
creditor). The debt guarantee can be in the form of (1) material guarantee, which gives
LePALISSHE 2021, August 03, Malang, Indonesia
Copyright © 2022 EAI
DOI 10.4108/eai.3-8-2021.2315068