Implementation of Online Fiduciary Security Registration in Minister of Law and Human Rights Regulation Number 9 of 2013

In Minister of Law and Human Rights Regulation Number 9 of 2013, online registration of fiduciary guarantees has been regulated. The purpose of writing this article is to gain an understanding of the implementation of this system. In addition, another objective is to gain a better understanding of the online fiduciary registration process, as well as the supporting components and barriers that occur during the process. This research utilizes a statutory and factual approach. A guarantee of legal certainty has been provided through the registration of collateral with the object of fiduciary guarantee through computer media and the internet.

One of the barriers to registering fiduciary guarantees electronically and connected to the internet is slow internet speed and interruptions. Many financing institutions do not register fiduciary guarantees due to the high cost of making the deed and registering it. As a result, creditors will not have preference rights over unregistered fiduciary guarantees.