Fiduciary Security in Indonesia Explained
Fiduciary Security in Indonesia is defined by Law number 42/1999 on Fiduciary Security (Fiduciary Law) as the right covering moving objects both tangible and intangible and immovable objects which cannot be encumbered with a mortgage. The objects will which remain in control of the person or entity which provides a fiduciary security over the objects (Fiduciary Provider). The Fiduciary Security is used to secure repayment of certain debt and gives the beneficiary of a Fiduciary Security (Fiduciary Beneficiary) a preferred position against other creditors.