Legal Certainty of the Transferring of Receivable In The Factoring Transaction in Indonesia

Abstract

Factoring Institution begins to be known in Indonesia in 1980s as known as “Factoring”. The term of factoring includes four legal relations, namely: the financing, purchasing, and transferring ownership of receivable legal relations. One of the factoring activities is the purchasing and transferring of receivable. The concept of sale - purchase of receivable  under (Indonesian) Private Law Code with consensual and obligatory nature, namely it exist since the consensus to be achieved, although the transfer of credit does not take place yet. The transfer ownership of receivable must be performed by “levering”.

The receivable purchasing and transferring process of receivable need regulation in the factoring transaction with the norm applied in Indonesia Legal System. Therefore, “Is the transferring process of receivable in the factoring transaction comply with the concept of receivable transferring in (Indonesia) Civil Code?” to be the issue of this dissertation.

The research of this dissertation uses normative legal research. The conclusion may be drawn from this research that, the norm in Civil Code regulating factoring is very limited. It regulates under “party-autonomy” principle. The transferring of receivable particularly Undisclosed Factoring does not comply with even contrary to the “Cessie” doctrine in Article 613 Civil Code. This research recommends to the Government and House of Representative to enact Acts on the Financing Institution in which regulates the activities of factoring institution, so that the legal certainty and legal protection may be given to all parties to the factoring transaction.

Keywords: The provision of transferring of receivable may not be omitted.