Legal Liabilities of All Parties In Financing Using Pawned Gold As Collateral Via Public And Privates Pawnshops In Indonesia
Fina Nazran, T.Keizerina Devi, Budiman Ginting, Hasyim Purba
Universitas Sumatera Utara
Abstract
People-s economic difficulties today force them to need more budget to fulfill their life necessities. They can either apply for a loan to banks or other financial institutions. Due to its complicated procedures, difficult requirements, and particular collateral, pawn service becomes an alternative. The most frequently pawned goods is gold because it is a promising investment goods. The research problems by studying prevailing laws and regulations i.e. the Civil Code, POJK (Regulations concerning Financial Service Authority),and other regulations related to this pawn. This research is done in PT. Pegadaian (Persero) and PT. Budi Gadai Indonesia. The results of the research demonstrate that, regarding the legal liabilities of all parties in which there is a borrower i.e. the debtor and a pawn broker i.e. the creditor, all parties have equal rights and obligations that they have to fulfill in order to run the gold pawning process well without any obstacles. The legal liabilities for the gold in case it is pawned, lost, or broken, is that the creditor is responsible to compensate all loss that has been intentionally and unintentionally caused, since it is the responsibilities of creditor. Regarding the legal liabilities of the debtor, if the pawned goods are proven to be illegally possessed, the debtor has to be responsible for all loss endured by the real owner and the creditor who provided the financing.
Keywords: Gold Pawn, Gold as Collateral, Pawn Financing
Topic: Trade and Business