PT Gadai Valuemax Indonesia aims to contribute to public awareness by providing
education on
Pawn Law under the Indonesian Civil Code, so that the public
can better understand their rights and obligations in pawn transactions.
PAWN LITERACY
To all ladies and gentlemen and the people of Indonesia, allow us from PT Gadai Valuemax Indonesia
to contribute by providing a brief explanation of “Pawn Law,” even if only at a general level, with
the intention of increasing public understanding of pawn transactions.
We plan to publish this literacy content periodically, perhaps once a week or once every two weeks, as it is written while we continue serving our customers. In each period, the public will be given the opportunity to provide corrections or questions in the comment section. Corrections, questions, or comments that we consider valuable will be rewarded with a small token of appreciation. Naturally, all comments must remain within the scope of the pawn law literacy discussed, which will be arranged gradually, article by article, related to Pawn Law.
We will begin with lighter and simpler explanations, and we hope there will be no misunderstandings that could lead to incorrect perceptions about pawn transactions.
We will explain the concept of a pawn: Article 1150 of the Indonesian Civil Code (KUHPerdata) regulates pawn transactions. A pawn is a right obtained by a creditor over a movable asset, which is delivered to the creditor by the debtor or by another party on the debtor’s behalf.
Key Points Contained in Article 1150 of the Indonesian Civil CodeThe pledged object must be a movable asset.
| Creditor | Debtor |
|---|---|
| May be a bank, financial institution, or individual that provides loans, either in the form of money or goods. Creditors have the right to collect repayment from the debtor in accordance with the agreement. | May be an individual or business entity that borrows money or goods from a creditor. Debtors are obligated to repay the loan in accordance with the agreement, including interest or other applicable fees. |
That concludes our explanation of Article 1150 of the Indonesian Civil Code. If there are any additions or corrections that you wish to provide regarding this article, we welcome them as valuable input to enhance public understanding of pawn law. We will also provide a reward to individuals who contribute constructive corrections or additional knowledge related to this article.
See you in the discussion of the next articles. Thank you.
– Ade Tivani
