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International Journal of Research and Innovation in Social Science (IJRISS) |Volume VI, Issue XI, November 2022|ISSN 2454-6186

Legal Certainty for Creditors in Funding with Ship Mortgage Guarantee

 Patra Dimas Kunto Wibisono*
Postgraduate Directorate-Master of Law, Pancasila University, Jakarta, Indonesia
*Corresponding author

IJRISS Call for paper

Abstract: The problem of this research is to find out the existence of ship mortgage guarantee institutions in the legal guarantee system in Indonesia, related ship mortgage legal guarantees in Indonesia, and to know the position of the Grosse ship mortgage deed in providing legal certainty for creditors. The research method used in this research is normative legal research. From what has been researched and written, the results of the research can be concluded that the existence of ship mortgage guarantee institutions in the guarantee law system in Indonesia has not been able to provide legal protection and certainty to creditors because the legal arrangements for ship mortgage guarantees have not been comprehensively regulated in one legislation., as well as the regulation is not yet in a complete but still partial legal system of material guarantees. The law of ship mortgage guarantees as the legal principles of ship mortgage guarantees that underlie the legal norms of ship mortgage guarantees will function properly if the formulation of ship mortgage legal norms is clearly formulated so that it does not open up opportunities for multiple interpretations by law enforcement officials, and there are still different arrangements related to shipping mortgages, especially related to executions. And the conclusion found that the Grosse position of the ship’s mortgage deed in providing legal protection and certainty to creditors through the executorial title contained in it had not been carried out because the execution of the collateral object based on Article 224 HIR was too complicated. After all, it had to follow the procedure as in the execution. other cases, even though the execution of collateral objects has a different context.

Keywords: Collateral, creditor legal certainty, ship mortgage

I. INTRODUCTION

Shipping companies or sea transportation businesses are business fields that require large capital (capital intensive). This business requires ships as the main business tool and human resources in the maritime sector that meet both national and international competency standards, especially seafarers. To meet this need, large capital is needed so that business continuity is guaranteed. This capital problem makes it difficult for national shipping companies to develop. As a way to keep the business running, they were forced to charter foreign-owned and foreign-flagged vessels. So that in the end the market share of domestic transportation is controlled by foreign-flagged vessels.
“The main problem faced by the shipping business is the difficulty in obtaining funds for ship financing because they consider that mortgage guarantees for ships carry a high risk for creditors. Law No. 17 of 2008 concerning Shipping explicitly states the definition of a ship mortgage as material