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All Journal Pena Justisia: Media Komunikasi dan Kajian Hukum INSPIRING LAW JOURNAL
Cahyadi, I Kadek Hery
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Humanities Education Law, Crime, Criminology & Criminal Justice Social Sciences

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Position Of Covernote In Fulfilling The Requirements Of A Credit Agreement In Banking Cahyadi, I Kadek Hery
Inspiring Law Journal Vol 1, No 1: Juli - Desember
Publisher : Inspiring Law Journal

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Abstract

The role and function of Notary-PPAT is very important in assisting the government, especially the banking sector, or other parties who need the presence of a Notary to be able to provide certainty, order, and legal protection in legal acts that are stated in authentic deeds. In addition to authentic deeds and private letters made by Notaries, there is one type of letter that seems to be a Notary's legal product that is often requested by banks to be made and issued in order to guarantee a legal act of the interested parties, namely a statement letter used as a temporary guarantee called a covernote. The position of the covernote in fulfilling the requirements of the credit agreement in banking becomes a complement if there is a process that has not been completed on the credit guarantee, the creditor (bank) asks the Notary-PPAT to make and issue a covernote, although the covernote is not part of the process for making a deed of encumbrance of rights. The covernote is proof of the binding of the guarantee and/or temporary hold for the bank in disbursing the credit. At the request of the bank, the Notary-PPAT makes and issues a covernote because the administration of the binding of the guarantee at the land office by the Notary-PPAT has not been completed
COVERNOTE'S STANDING IN ELIGIBILITY ON CREDIT AGREEMENTS IN BANKING Cahyadi, I Kadek Hery; Ramlan, Ramlan; Arifin, Muhammad
Pena Justisia: Media Komunikasi dan Kajian Hukum Vol. 22 No. 1 (2023): Pena Justisia
Publisher : Faculty of Law, Universitas Pekalongan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31941/pj.v22i1.4615

Abstract

Credit agreements signed by creditors and debtors by providing collateral in the form of certificates are generally bound by a notarial deed, whether made authentically or privately. The credit agreement will then be processed to encumber the rights to the collateral. Before the imposition process is completed, it is customary for the Notary-PPAT to create and publish a covernote so that the bank is confident in disbursing credit to the debtor. The aim of this research is to determine the position of covernotes in fulfilling the requirements of credit agreements in banking. This research uses normative research methods. Normative legal research is research conducted or aimed at written regulations because the research is carried out based on statutory regulations, namely the relationship between one regulation and another and its relationship to its application in practice. The research results show that the position of the covernote issued by the Notary-PPAT to fulfill the requirements of the credit agreement at the bank is only limited to being a certificate, to explain that a credit agreement has been agreed and signed by providing a guarantee. However, the covernote is not an object of collateral or guarantee, the covernote is only a certificate that can be used as temporary collateral as a guide for the bank to issue credit to the debtor.
Co-Authors Muhammad Arifin Ramlan, H.