Ada Pertanyaan? Hubungi Kami 
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Ada Pertanyaan? Hubungi Kami Aditya Putra, Hasyry Agustin
As part of the government’s efforts to realize an efficient and effective collateral registration procedure, as well as to respond to rapid changes in the area of international transactions, the Directorate General of General Legal Administration (“Ditjen AHU”) has now implemented an electronic registration system for fiduciary collateral at fidusia.ahu.go.id. Through this portal, parties to collateral agreements are no longer required to visit Fiduciary Registration Offices in order to register their deeds of fiduciary collateral. This brings Indonesia into line with other countries which have already set up similar electronic systems in order to administer their fiduciary collateral transactions.
Elaine MacEachern, Global Secured Transactions Specialist for the World Bank Group, told Hukum Online that there are at least two main objectives as regards the electronic registration of collateral, namely the provision of information on collateral to any creditors and informing the list of preferred creditors.
Ms. MacEachern also explained the various types of collateral registration administration systems which have been commonly adopted across several countries. Firstly, there is collateral registration which is administered by an appointed ministry or central bank, such as is the case in Vietnam, Ghana, Afghanistan, Laos, and the West Bank. Secondly, there are collateral registration systems which are administrated by the private sector, such as those implemented in Colombia and Bhutan.
“There are also collateral-registration systems which are administered by public-private partnerships, for instance in India and Canada,” Ms. MacEachern added during a Fiduciary Servicing Coordination Meeting which was attended by the Ditjen AHU, as well as officers from regional Ministry of Human Rights offices located across Indonesia.
Rinto Hakim, Secretary of Ditjen AHU explained that the registration of fiduciary collateral agreements in Indonesia was now to be performed electronically, as mandated by Government Regulation No. 21 of 2015 on Procedures for the Registration of Fiduciary Security Rights and Fees for the Drawing up of Fiduciary Security Deeds. Through this electronic registration system, applicants no longer need to fill in any application forms or submit any supporting documents to the Fiduciary Registration Office.
“Applications who are looking to register fiduciary collateral should submit their applications via the new electronic system no later than 30 days after the signing of any fiduciary collateral deed. The officer in charge at the Fiduciary Registration Office will then issue and affix an electronic signature to the fiduciary collateral certificate.”
However, many believe that problems still remain as regards the country’s fiduciary collateral system. Sudrajad Dimyati, a judge at the Supreme Court, explained that many fiduciary assignees have yet to register their deeds of fiduciary collateral with the Fiduciary Registration Office, despite the fact that this is mandatory under Law No. 42 of 1999 on Fiduciary Collateral and its implementing regulations.
Mr.Dimyati further explained that most parties intentionally enter into privately drawn up collateral agreements in order to avoid paying notary fees or registration fees at the Fiduciary Registration Office. At present, the fee for the drawing up of deeds of fiduciary collateral by a notary for transactions of up to IDR 100 million is set at 2.5% of the transaction value.
“The result of not drawing up fiduciary deeds before a notary or registering such deeds with the Fiduciary Registration Office is the need to file for an execution award with the court in the event of any dispute occurring, which can obviously result in a long, drawn-out process,” asserted Mr. Dimyati.
Elaine MacEachern, Global Secured Transactions Specialist for the World Bank Group, told Hukum Online that there are at least two main objectives as regards the electronic registration of collateral, namely the provision of information on collateral to any creditors and informing the list of preferred creditors.
Ms. MacEachern also explained the various types of collateral registration administration systems which have been commonly adopted across several countries. Firstly, there is collateral registration which is administered by an appointed ministry or central bank, such as is the case in Vietnam, Ghana, Afghanistan, Laos, and the West Bank. Secondly, there are collateral registration systems which are administrated by the private sector, such as those implemented in Colombia and Bhutan.
“There are also collateral-registration systems which are administered by public-private partnerships, for instance in India and Canada,” Ms. MacEachern added during a Fiduciary Servicing Coordination Meeting which was attended by the Ditjen AHU, as well as officers from regional Ministry of Human Rights offices located across Indonesia.
Rinto Hakim, Secretary of Ditjen AHU explained that the registration of fiduciary collateral agreements in Indonesia was now to be performed electronically, as mandated by Government Regulation No. 21 of 2015 on Procedures for the Registration of Fiduciary Security Rights and Fees for the Drawing up of Fiduciary Security Deeds. Through this electronic registration system, applicants no longer need to fill in any application forms or submit any supporting documents to the Fiduciary Registration Office.
“Applications who are looking to register fiduciary collateral should submit their applications via the new electronic system no later than 30 days after the signing of any fiduciary collateral deed. The officer in charge at the Fiduciary Registration Office will then issue and affix an electronic signature to the fiduciary collateral certificate.”
However, many believe that problems still remain as regards the country’s fiduciary collateral system. Sudrajad Dimyati, a judge at the Supreme Court, explained that many fiduciary assignees have yet to register their deeds of fiduciary collateral with the Fiduciary Registration Office, despite the fact that this is mandatory under Law No. 42 of 1999 on Fiduciary Collateral and its implementing regulations.
Mr.Dimyati further explained that most parties intentionally enter into privately drawn up collateral agreements in order to avoid paying notary fees or registration fees at the Fiduciary Registration Office. At present, the fee for the drawing up of deeds of fiduciary collateral by a notary for transactions of up to IDR 100 million is set at 2.5% of the transaction value.
“The result of not drawing up fiduciary deeds before a notary or registering such deeds with the Fiduciary Registration Office is the need to file for an execution award with the court in the event of any dispute occurring, which can obviously result in a long, drawn-out process,” asserted Mr. Dimyati.
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Aditya Putra, Hasyry Agustin
As part of the government’s efforts to realize an efficient and effective collateral registration procedure, as well as to respond to rapid changes in the area of international transactions, the Directorate General of General Legal Administration (“Ditjen AHU”) has now implemented an electronic registration system for fiduciary collateral at fidusia.ahu.go.id. Through this portal, parties to collateral agreements are no longer required to visit Fiduciary Registration Offices in order to register their deeds of fiduciary collateral. This brings Indonesia into line with other countries which have already set up similar electronic systems in order to administer their fiduciary collateral transactions.
Elaine MacEachern, Global Secured Transactions Specialist for the World Bank Group, told Hukum Online that there are at least two main objectives as regards the electronic registration of collateral, namely the provision of information on collateral to any creditors and informing the list of preferred creditors.
Ms. MacEachern also explained the various types of collateral registration administration systems which have been commonly adopted across several countries. Firstly, there is collateral registration which is administered by an appointed ministry or central bank, such as is the case in Vietnam, Ghana, Afghanistan, Laos, and the West Bank. Secondly, there are collateral registration systems which are administrated by the private sector, such as those implemented in Colombia and Bhutan.
“There are also collateral-registration systems which are administered by public-private partnerships, for instance in India and Canada,” Ms. MacEachern added during a Fiduciary Servicing Coordination Meeting which was attended by the Ditjen AHU, as well as officers from regional Ministry of Human Rights offices located across Indonesia.
Rinto Hakim, Secretary of Ditjen AHU explained that the registration of fiduciary collateral agreements in Indonesia was now to be performed electronically, as mandated by Government Regulation No. 21 of 2015 on Procedures for the Registration of Fiduciary Security Rights and Fees for the Drawing up of Fiduciary Security Deeds. Through this electronic registration system, applicants no longer need to fill in any application forms or submit any supporting documents to the Fiduciary Registration Office.
“Applications who are looking to register fiduciary collateral should submit their applications via the new electronic system no later than 30 days after the signing of any fiduciary collateral deed. The officer in charge at the Fiduciary Registration Office will then issue and affix an electronic signature to the fiduciary collateral certificate.”
However, many believe that problems still remain as regards the country’s fiduciary collateral system. Sudrajad Dimyati, a judge at the Supreme Court, explained that many fiduciary assignees have yet to register their deeds of fiduciary collateral with the Fiduciary Registration Office, despite the fact that this is mandatory under Law No. 42 of 1999 on Fiduciary Collateral and its implementing regulations.
Mr.Dimyati further explained that most parties intentionally enter into privately drawn up collateral agreements in order to avoid paying notary fees or registration fees at the Fiduciary Registration Office. At present, the fee for the drawing up of deeds of fiduciary collateral by a notary for transactions of up to IDR 100 million is set at 2.5% of the transaction value.
“The result of not drawing up fiduciary deeds before a notary or registering such deeds with the Fiduciary Registration Office is the need to file for an execution award with the court in the event of any dispute occurring, which can obviously result in a long, drawn-out process,” asserted Mr. Dimyati.
Elaine MacEachern, Global Secured Transactions Specialist for the World Bank Group, told Hukum Online that there are at least two main objectives as regards the electronic registration of collateral, namely the provision of information on collateral to any creditors and informing the list of preferred creditors.
Ms. MacEachern also explained the various types of collateral registration administration systems which have been commonly adopted across several countries. Firstly, there is collateral registration which is administered by an appointed ministry or central bank, such as is the case in Vietnam, Ghana, Afghanistan, Laos, and the West Bank. Secondly, there are collateral registration systems which are administrated by the private sector, such as those implemented in Colombia and Bhutan.
“There are also collateral-registration systems which are administered by public-private partnerships, for instance in India and Canada,” Ms. MacEachern added during a Fiduciary Servicing Coordination Meeting which was attended by the Ditjen AHU, as well as officers from regional Ministry of Human Rights offices located across Indonesia.
Rinto Hakim, Secretary of Ditjen AHU explained that the registration of fiduciary collateral agreements in Indonesia was now to be performed electronically, as mandated by Government Regulation No. 21 of 2015 on Procedures for the Registration of Fiduciary Security Rights and Fees for the Drawing up of Fiduciary Security Deeds. Through this electronic registration system, applicants no longer need to fill in any application forms or submit any supporting documents to the Fiduciary Registration Office.
“Applications who are looking to register fiduciary collateral should submit their applications via the new electronic system no later than 30 days after the signing of any fiduciary collateral deed. The officer in charge at the Fiduciary Registration Office will then issue and affix an electronic signature to the fiduciary collateral certificate.”
However, many believe that problems still remain as regards the country’s fiduciary collateral system. Sudrajad Dimyati, a judge at the Supreme Court, explained that many fiduciary assignees have yet to register their deeds of fiduciary collateral with the Fiduciary Registration Office, despite the fact that this is mandatory under Law No. 42 of 1999 on Fiduciary Collateral and its implementing regulations.
Mr.Dimyati further explained that most parties intentionally enter into privately drawn up collateral agreements in order to avoid paying notary fees or registration fees at the Fiduciary Registration Office. At present, the fee for the drawing up of deeds of fiduciary collateral by a notary for transactions of up to IDR 100 million is set at 2.5% of the transaction value.
“The result of not drawing up fiduciary deeds before a notary or registering such deeds with the Fiduciary Registration Office is the need to file for an execution award with the court in the event of any dispute occurring, which can obviously result in a long, drawn-out process,” asserted Mr. Dimyati.
(rfs/sp)