Juridical Analysis of the Guarantee Institution Format for the Implementation of Warehouse Receipts to Realize Legal Certainty (Research Study at the Office of the Department of Industry and Batam City Trade)

Law

Warehouse Receipt is a document of proof of ownership of the goods stored in the warehouse, as well as securities that can be used as full collateral without any other guarantee required. In the development of the Warehouse Receipt System (WRS), weaknesses were found in the field which greatly hampered the development of the Warehouse Receipt System (WRS), namely the unavailability of a guarantee or insurance mechanism that could cover all losses including when the Warehouse Manager went bankrupt. This condition causes the fragility of the Warehouse Receipt System (WRS). then in 2011, the Government together with the House of Representatives of the Republic of Indonesia (DPR RI) made an amendment to Law Number 9 of 2006 with the issuance of Law Number 9 of 2011 concerning amendments to Law Number 9 of 2006 concerning the Warehouse Receipt System . Through this Law Number 9 of 2011, the Performance Guarantee instrument in the Warehouse Receipt System is complemented by the establishment of a Warehouse Receipt Guarantee Institution (Idemnity Fund). The Warehouse Receipt Guarantee Agency (LJRG) is an institution that will manage the warehouse receipt guarantee fund.

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