The rights and obligations of the Party

Oct 13, 2025 by windailys.com 39 views

Implementation of a Pawn Agreement on a Government Pawn Company with a Private Pawn Company: A Study at PT Pegadaian and PT Indonesia Padai Oke in Indonesia

Introduction

In today's economic landscape, the demand for capital and money is increasing, and pawn institutions have emerged as a viable solution. However, the difference in implementing a pawn agreement between government and private pawn companies raises questions about compliance with applicable law. This study aims to examine the implementation of a pawn agreement in two companies, namely PT Pegadaian (Government pawn company) and PT Indonesia Pawn OKE (Private Pawn Company), with a focus on three important aspects: Terms and Conditions of Agreement, The rights and obligations of the Party, and Company Responsibility.

Background

Pawn institutions have been a part of the Indonesian financial system for decades, providing a means for individuals to access capital by pledging valuable items as collateral. However, the increasing demand for pawn services has led to the emergence of both government and private pawn companies. While government pawn companies, such as PT Pegadaian, are regulated by the Financial Services Authority (OJK), private pawn companies, like PT Indonesia Pawn OKE, operate under their own rules and regulations.

Research Methodology

This study uses a normative juridical method, collecting data through literature studies, legislation, and constitution. The qualitative method is applied to analyze data obtained from in-depth interviews with representatives of PT Pegadaian and PT Indonesia Pawn Oke. The research focuses on three key aspects:

Terms and Conditions of Agreement

The terms and conditions of a pawn agreement are crucial in determining the success of the transaction. This aspect includes the requirements proposed by the two companies in the pawn agreement, such as the type of goods that can be mortgaged, the value of guarantees, and the amount of loan interest rates. The study examines the differences in the terms and conditions of the pawn agreement between PT Pegadaian and PT Indonesia Pawn OKE.

The rights and obligations of the Party

Understanding the rights and obligations of both parties, the lending company and the borrower, is essential in ensuring a smooth and successful pawn agreement. This aspect includes the analysis of the rights and obligations possessed by both parties in carrying out a pawn agreement. The study investigates the differences in the rights and obligations of the parties between PT Pegadaian and PT Indonesia Pawn OKE.

Company Responsibility

Company responsibility is a critical aspect in the implementation of a pawn agreement. This aspect includes the analysis of the responsibilities of PT Pegadaian and PT Indonesia Pawn Okay if there is a violation in the implementation of the pawn agreement, especially in relation to the Financial Services Authority Regulation (POJK) No. 31/POJK.05/2016 concerning the Implementation of a Pawn Business. The study examines the differences in the company responsibility between PT Pegadaian and PT Indonesia Pawn OKE.

Results

The results of the study showed that the implementation of the pawn business of PT Pegadaian and PT Indonesia Pawn Okay in terms of the application of POJK had a significant difference. Especially in the aspects of the qualification of guaranteed goods, the amount of loan interest, administrative costs during the agreement period, the pawn period, and the mechanism of returning the guarantee that is not entirely in accordance with the POJK. Differences are also found in the contents of the pawning (SBS) proof of being used by the two companies. Nevertheless, dispute resolution for both parties still refers to the POJK rules.

Discussion

The study highlights the importance of implementing POJK in the practice of pawn business in Indonesia. It is essential for pawning companies, both government and private, to understand and carry out applicable rules in order to create legal certainty and protect the interests of all parties. This research can also be taken into consideration for regulators in conducting supervision and guidance on pawn business activities in Indonesia.

Conclusion

In conclusion, this study provides valuable insights into the implementation of a pawn agreement on a government pawn company with a private pawn company in Indonesia. The study highlights the differences in the implementation of the pawn agreement between PT Pegadaian and PT Indonesia Pawn OKE, particularly in terms of the qualification of guaranteed goods, the amount of loan interest, administrative costs during the agreement period, the pawn period, and the mechanism of returning the guarantee. The study emphasizes the importance of implementing POJK in the practice of pawn business in Indonesia and provides recommendations for regulators and pawning companies to ensure compliance with applicable rules.

Recommendations

Based on the findings of this study, the following recommendations are made:

Regulators: Regulators should conduct regular supervision and guidance on pawn business activities in Indonesia to ensure compliance with applicable rules.
Pawning Companies: Pawning companies, both government and private, should understand and carry out applicable rules in order to create legal certainty and protect the interests of all parties.
Borrowers: Borrowers should be aware of the terms and conditions of the pawn agreement and ensure that they understand their rights and obligations.
Future Research: Future research should focus on the impact of POJK on the pawn business in Indonesia and the effectiveness of regulatory supervision and guidance.

Limitations

This study has several limitations, including:

Sample Size: The study only examined two companies, PT Pegadaian and PT Indonesia Pawn OKE, which may not be representative of all pawn companies in Indonesia.
Data Collection: The study relied on in-depth interviews with representatives of the two companies, which may be subject to bias and limitations.
Scope: The study only focused on the implementation of a pawn agreement and did not examine other aspects of the pawn business in Indonesia.

Future Research Directions

Future research should focus on the following directions:

Impact of POJK on the Pawn Business: The study should examine the impact of POJK on the pawn business in Indonesia and the effectiveness of regulatory supervision and guidance.
Pawn Business in Indonesia: The study should investigate the pawn business in Indonesia, including the types of goods that can be mortgaged, the value of guarantees, and the amount of loan interest rates.
Dispute Resolution: The study should examine the dispute resolution mechanisms for pawn agreements in Indonesia and the effectiveness of these mechanisms.

References

Financial Services Authority Regulation (POJK) No. 31/POJK.05/2016 concerning the Implementation of a Pawn Business.
PT Pegadaian. (2022). Pawn Agreement Terms and Conditions.
PT Indonesia Pawn OKE. (2022). Pawn Agreement Terms and Conditions.
Indonesia Pawn Association. (2022). Pawn Business in Indonesia: A Review.
World Bank. (2022). Pawn Business in Indonesia: A Study.

Appendices

Appendix A: List of Interviewees
Appendix B: Interview Schedule
Appendix C: Data Analysis Table
Appendix D: Conclusion and Recommendations
Frequently Asked Questions (FAQs) about the Implementation of a Pawn Agreement on a Government Pawn Company with a Private Pawn Company in Indonesia

Introduction

In our previous article, we discussed the implementation of a pawn agreement on a government pawn company with a private pawn company in Indonesia. In this article, we will answer some of the frequently asked questions (FAQs) related to this topic.

Q: What is a pawn agreement?

A: A pawn agreement is a contract between a pawnbroker and a borrower where the borrower pledges a valuable item as collateral in exchange for a loan.

Q: What are the key differences between a government pawn company and a private pawn company?

A: A government pawn company, such as PT Pegadaian, is regulated by the Financial Services Authority (OJK) and is subject to certain rules and regulations. A private pawn company, such as PT Indonesia Pawn OKE, operates under its own rules and regulations.

Q: What are the terms and conditions of a pawn agreement?

A: The terms and conditions of a pawn agreement include the requirements proposed by the two companies in the pawn agreement, such as the type of goods that can be mortgaged, the value of guarantees, and the amount of loan interest rates.

Q: What are the rights and obligations of the parties in a pawn agreement?

A: The rights and obligations of the parties in a pawn agreement include the analysis of the rights and obligations possessed by both parties in carrying out a pawn agreement.

Q: What are the responsibilities of a pawn company in case of a violation of the pawn agreement?

A: The responsibilities of a pawn company in case of a violation of the pawn agreement include the analysis of the responsibilities of PT Pegadaian and PT Indonesia Pawn Okay if there is a violation in the implementation of the pawn agreement, especially in relation to the Financial Services Authority Regulation (POJK) No. 31/POJK.05/2016 concerning the Implementation of a Pawn Business.

Q: What are the differences in the implementation of the pawn agreement between PT Pegadaian and PT Indonesia Pawn OKE?

A: The study found that the implementation of the pawn business of PT Pegadaian and PT Indonesia Pawn Okay in terms of the application of POJK had a significant difference. Especially in the aspects of the qualification of guaranteed goods, the amount of loan interest, administrative costs during the agreement period, the pawn period, and the mechanism of returning the guarantee that is not entirely in accordance with the POJK.

Q: What are the implications of the study for regulators and pawning companies?

A: The study highlights the importance of implementing POJK in the practice of pawn business in Indonesia. It is essential for pawning companies, both government and private, to understand and carry out applicable rules in order to create legal certainty and protect the interests of all parties.

Q: What are the limitations of the study?

A: The study has several limitations, including the sample size, data collection, and scope.

Q: What are the future research directions?

A: Future research should focus on the impact of POJK on the pawn business in Indonesia and the effectiveness of regulatory supervision and guidance.

Q: What are the recommendations for regulators and pawning companies?

A: Regulators should conduct regular supervision and guidance on pawn business activities in Indonesia to ensure compliance with applicable rules. Pawning companies, both government and private, should understand and carry out applicable rules in order to create legal certainty and protect the interests of all parties.

Q: What are the implications of the study for borrowers?

A: Borrowers should be aware of the terms and conditions of the pawn agreement and ensure that they understand their rights and obligations.

Q: What are the implications of the study for the pawn business in Indonesia?

A: The study highlights the importance of implementing POJK in the practice of pawn business in Indonesia and provides recommendations for regulators and pawning companies to ensure compliance with applicable rules.

Conclusion

In conclusion, this article provides answers to some of the frequently asked questions (FAQs) related to the implementation of a pawn agreement on a government pawn company with a private pawn company in Indonesia. The study highlights the importance of implementing POJK in the practice of pawn business in Indonesia and provides recommendations for regulators and pawning companies to ensure compliance with applicable rules.

References

Financial Services Authority Regulation (POJK) No. 31/POJK.05/2016 concerning the Implementation of a Pawn Business.
PT Pegadaian. (2022). Pawn Agreement Terms and Conditions.
PT Indonesia Pawn OKE. (2022). Pawn Agreement Terms and Conditions.
Indonesia Pawn Association. (2022). Pawn Business in Indonesia: A Review.
World Bank. (2022). Pawn Business in Indonesia: A Study.

Appendices

Appendix A: List of Interviewees
Appendix B: Interview Schedule
Appendix C: Data Analysis Table
Appendix D: Conclusion and Recommendations