tiktok���˰�

A Pledge Security Agreement is a crucial document in Indonesian secured financing transactions, used when a borrower (pledgor) needs to provide security over movable assets while retaining possession for business operations. This document type is specifically governed by Indonesian Law No. 42 of 1999 on Fiducia Security and must be executed in notarial deed form for registration with the Fiducia Registration Office. The agreement outlines the pledged assets, secured obligations, parties' rights and obligations, enforcement mechanisms, and includes mandatory provisions required by Indonesian law. It's commonly used in both bilateral and syndicated lending arrangements, project financing, and general corporate borrowing where tangible movable assets serve as collateral.

1. Parties: Identification of the Pledgor and Pledgee, including their full legal names, addresses, and registration details

2. Background: Context of the security arrangement, reference to the underlying facility/loan agreement, and purpose of the pledge

3. Definitions and Interpretation: Definitions of key terms used in the agreement and rules of interpretation

4. Creation of Security Interest: Express creation of the pledge and description of the secured assets

5. Secured Obligations: Definition and scope of the obligations being secured by the pledge

6. Perfection Requirements: Steps required to perfect the security interest, including registration requirements

7. Representations and Warranties: Pledgor's representations regarding ownership, authority, and condition of pledged assets

8. Covenants: Ongoing obligations of the Pledgor regarding maintenance and preservation of the pledged assets

9. Events of Default: Circumstances constituting default under the agreement

10. Enforcement: Rights and remedies of the Pledgee upon default, including power of sale

11. Power of Attorney: Irrevocable power of attorney granted to the Pledgee for enforcement purposes

12. Notices: Process and requirements for giving notices under the agreement

13. Governing Law and Jurisdiction: Specification of Indonesian law as governing law and choice of jurisdiction

14. Miscellaneous: Standard boilerplate provisions including amendments, waivers, and severability