Several Problems on the Implementation of Fiduciary Guarantee Execution on Four Automotive Financing Companies after the Constitutional Court Decision Number 18/PUU-XVII/2019

The execution of a fiduciary guarantee on the vehicle financing practice often creates problems even though the position of the recipients of the fiduciary guarantee is strong, as mentioned in Indonesia’s Law No. 42/1999. If the agreement is broken, the execution of the fiduciary guarantee can be carried out in three ways: (1) the execution through the executorial title, (2) the sale of the object of the fiduciary guarantee, and (3) the sale under the hand based on an agreement between the giver and the recipient of the fiduciary. After the Constitutional Court Decision No. 18/PUU-XVII/2019 is issued, there are additional provisions, namely agreement on the broken promise which needs to be included and voluntary submission concerning the object of fiduciary. This study was conducted on four automotive financing companies after the Constitutional Court Decision No. 18/PUU-XVII/2019, whose implementation was different. The type of this study was normative legal research with a descriptive approach. In addition, the data used were secondary data which were analyzed qualitatively. The results of the study can be concluded that (1) there are different interpretations of the regulations of the execution of fiduciary guarantees, (2) there are requirements that are difficult to fulfill, and (3) there are contradictions in several court decisions. The recommendations offered are that technical guidelines need to be made to support legal certainty in the execution of fiduciary guarantees.