Execution Of Guarantee Goods Due To Debtor Debtor Affairs In The Sale And Purchase Agreement (Study At PT. Bussan Auto Finance Tembung)

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Introduction

In the world of finance, the negligence of the debtor in making installment payments is a problem that often occurs and can be considered as a default. This default certainly has a negative impact not only for the debtor, but also for creditors who have the potential to suffer losses. The sale and purchase agreement is a common contract used in the automotive finance industry, where the debtor purchases a vehicle and agrees to make installment payments. However, if the debtor defaults on their payments, the creditor has the right to execute the guarantee goods. This article will discuss in depth about the execution of guaranteed goods in the context of default, especially in the sale and purchase agreement involving PT. Bussan Auto Finance.

Provisions on Execution of Guarantee Goods

In the Fiduciary Guarantee Law (UUJF), Article 29 paragraph (1) stipulates that if the debtor or fiduciary giver is defaulted, the fiduciary recipient has the right to execute the fiduciary guarantee object. Execution can be done by implementing the executorial title stipulated in Article 15 paragraph (2). This shows how important the agreement and guarantee for both parties, because it provides reliable legal certainty. The guarantee object is usually a vehicle that is used as collateral for the loan. If the debtor defaults, the creditor has the right to seize the vehicle and sell it to recover the debt.

Types of Guarantee Objects

The guarantee object can be a vehicle, property, or other assets that are used as collateral for the loan. In the case of PT. Bussan Auto Finance, the guarantee object is usually a vehicle that is used as collateral for the loan. The creditor has the right to seize the vehicle and sell it to recover the debt.

Procedure for Executing Guarantee Goods

The procedure for executing guarantee goods is usually as follows:

  1. Warning Letter 1 (SP1): The creditor will send a warning letter to the debtor, informing them that they are in default and that they need to make the payment.
  2. Warning Letter 2 (SP2): If the debtor still does not make the payment, the creditor will send a second warning letter, informing them that they will take further action if the payment is not made.
  3. Seizure of Guarantee Object: If the debtor still does not make the payment, the creditor has the right to seize the guarantee object and sell it to recover the debt.

Legal Consequences of Default

If the debtor defaults in the sale and purchase agreement, there are a number of legal consequences that must be faced, in accordance with the Civil Code (Kuhperdata). First, based on Article 1243, the buyer is required to pay compensation borne by the seller. This confirms that the obligation to be responsible for losses is part of the agreed agreement. Furthermore, Article 1266 states that the default carried out by one party gives the right to the other party to cancel or decide the agreement through the court.

Risk of Shifting to Buyers

The risk of shifting to buyers from the time of default, according to Article 1237 paragraph (2). The disadvantaged party can also meet the agreement if it is still possible, or choose to cancel the agreement accompanied by a request for compensation (Article 1267).

Execution Procedure of Guarantee by PT. Bussan Auto Finance

In practice, PT. Bussan Auto Finance has a clear procedure in handling debtors that default. The procedure is as follows:

  1. Warning Letter 1 (SP1): The debtor will be given a warning through a warning letter 1 (SP1) in the first month of the late payment of installments.
  2. Warning Letter 2 (SP2): If in the second month the payment is still not made, then the debtor will receive a warning letter 2 (SP2).
  3. Seizure of Guarantee Object: If after the summons the debtor still does not respond until the third month, PT. Bussan Auto Finance has the right to transfer guarantees to third parties or withdraw motorbikes that are the object of guarantee.

Conclusion

Seeing from a legal point of view, the execution of guaranteed goods due to debtors of default in the sale and purchase agreement is a structured process and is based on clear legal provisions. Through this approach, both creditors and debtors have their respective rights. Creditors have the right to execute to minimize losses due to default, while debtors must realize their obligations to fulfill agreed agreements. By understanding more deeply regarding the provisions of the applicable law and procedures, it is expected to minimize conflicts that may occur in the future.

Recommendations

Based on the study, the following recommendations can be made:

  1. Debtors must realize their obligations: Debtors must understand their obligations and fulfill the agreed agreements to avoid default.
  2. Creditors must follow the procedure: Creditors must follow the procedure for executing guarantee goods to minimize losses due to default.
  3. Clear communication: Clear communication between creditors and debtors is essential to avoid conflicts and misunderstandings.

By following these recommendations, it is expected that the execution of guaranteed goods due to debtors of default in the sale and purchase agreement can be minimized, and both creditors and debtors can benefit from a smooth and efficient process.

Q: What is the purpose of a guarantee in a sale and purchase agreement?

A: The purpose of a guarantee in a sale and purchase agreement is to provide security for the creditor in case the debtor defaults on their payments. The guarantee object is usually a vehicle or other assets that are used as collateral for the loan.

Q: What happens if the debtor defaults on their payments?

A: If the debtor defaults on their payments, the creditor has the right to execute the guarantee goods. This means that the creditor can seize the guarantee object and sell it to recover the debt.

Q: What is the procedure for executing guarantee goods?

A: The procedure for executing guarantee goods is usually as follows:

  1. Warning Letter 1 (SP1): The creditor will send a warning letter to the debtor, informing them that they are in default and that they need to make the payment.
  2. Warning Letter 2 (SP2): If the debtor still does not make the payment, the creditor will send a second warning letter, informing them that they will take further action if the payment is not made.
  3. Seizure of Guarantee Object: If the debtor still does not make the payment, the creditor has the right to seize the guarantee object and sell it to recover the debt.

Q: What are the legal consequences of default?

A: If the debtor defaults in the sale and purchase agreement, there are a number of legal consequences that must be faced, in accordance with the Civil Code (Kuhperdata). First, based on Article 1243, the buyer is required to pay compensation borne by the seller. This confirms that the obligation to be responsible for losses is part of the agreed agreement. Furthermore, Article 1266 states that the default carried out by one party gives the right to the other party to cancel or decide the agreement through the court.

Q: Can the debtor meet the agreement if it is still possible?

A: Yes, the disadvantaged party can also meet the agreement if it is still possible, or choose to cancel the agreement accompanied by a request for compensation (Article 1267).

Q: What is the risk of shifting to buyers from the time of default?

A: The risk of shifting to buyers from the time of default, according to Article 1237 paragraph (2).

Q: How can creditors minimize losses due to default?

A: Creditors can minimize losses due to default by following the procedure for executing guarantee goods and seizing the guarantee object.

Q: What is the role of PT. Bussan Auto Finance in executing guarantee goods?

A: PT. Bussan Auto Finance has a clear procedure in handling debtors that default. The procedure is as follows:

  1. Warning Letter 1 (SP1): The debtor will be given a warning through a warning letter 1 (SP1) in the first month of the late payment of installments.
  2. Warning Letter 2 (SP2): If in the second month the payment is still not made, then the debtor will receive a warning letter 2 (SP2).
  3. Seizure of Guarantee Object: If after the summons the debtor still does not respond until the third month, PT. Bussan Auto Finance has the right to transfer guarantees to third parties or withdraw motorbikes that are the object of guarantee.

Q: What are the recommendations for debtors and creditors?

A: Based on the study, the following recommendations can be made:

  1. Debtors must realize their obligations: Debtors must understand their obligations and fulfill the agreed agreements to avoid default.
  2. Creditors must follow the procedure: Creditors must follow the procedure for executing guarantee goods to minimize losses due to default.
  3. Clear communication: Clear communication between creditors and debtors is essential to avoid conflicts and misunderstandings.

By following these recommendations, it is expected that the execution of guaranteed goods due to debtors of default in the sale and purchase agreement can be minimized, and both creditors and debtors can benefit from a smooth and efficient process.