The Implementation of Prudential Principles in Liquiding Credit Using Covernote Notary

Abstract

The problems that often occur when using a notary Covernote in this credit agreement, until during the process of Proprietary certificates issuance and binding of the rights of liabilities has not been completed. In contrast, the credit has been disbursed to the customer debtor and the credit was stuck, or the debtor customer has tort. This condition certainly causes the bank not to execute the credit guarantee that could result in losses from the bank. The purpose of this research is to analyze the implementation of prudence principles in the process of disbursement of credit conducted by PT. Bank Rakyat Indonesia (Persero) Tbk. Bojonegoro Branch by using notary Covernote and analyzing the legal consequences of application of prudence principle in the use of notary cover note in the process of disbursement of credit conducted by PT. Bank Rakyat Indonesia (Persero) Tbk. Bojonegoro Branch. The study used an empirical and sociological juridical approach. The data sources in this study through Library Research and field research and the data used are primary data and secondary data. The sample in this study is all employees of PT. Bank Rakyat Indonesia (Persero) Tbk. Bojonegoro Branch Office. The results of this study showed that the constraints encountered in the application of prudence principles on the use of notary Covernote as the basis of disbursement of credit, among others: in terms of juridical, the arrangement on covernotes used as a condition of disbursement of financing has not existed either in the law, government regulations, Bank Indonesia regulation, and in the form of a memorandum of understanding. Covernote is arising based on the habit so that the bank that determines the use of covernote can be a factor that affects the implementation of the principle of banking prudence if each party does not understand clearly about the existence of the related covernote binding collateral. In terms of Non-juridical, the constraints encountered are influenced by the factors of law enforcement, facilities and facility, and socio-economic factors of society and culture.