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Tuesday, April 16, 2013

Nature of The Sea Teaty Ship MORTGAGES

In principle, the nature of the agreement can be divided into 2 types, namely basic treaties and agreements accessoir. Principal agreement is an agreement to obtain credit facilities from banks. While the agreement is an agreement accessoir extra. Loading a ship mortgage agreement is an agreement or additional accessoir. The existence of this ship mortgage agreement is substantially dependent on the agreement.
Rights And Obligations Between Giver and Receiver Mortgage, Since the imposition of a ship mortgage, then since that's incurred due to both parties. The legal consequences arising rights and obligations of both parties.

1. The right mortgage provider:
    a. Retained control of the object;
    b. Using the object; 
    c. Perform control actions do not harm the original mortgage holders; 
    d. Entitled to receive a cash loan.
2. Obligations of mortgage holders: 
    a. Pay principal and interest on the collateral mortgage loans; 
    b. Pay a penalty for late payment of loan principal and interest;
3. Holders of mortgage rights:
    a. Obtain reimbursement for the repayment thereof receivable if the debtor defaults; 
    b. Moving receivable, because the mortgage is accesoir, then the transfer of the mortgage principal follow 
        to move.

Applicable Period Ship Mortgage
The validity period of a ship mortgage depends on the substance of the principal agreement or loan agreement made between a debtor (the ship owner) with the bank (lender). By period, the credit agreement can be classified into 3 types, namely: short-term loans, medium-term and long-term (Law no. 7 Th. 1992 jo. Law. 10 Th. 1998 on banking). Mortgage loan agreement by using the ship is credit period is for 3 years and above. Due to the cost of financing a ship or large rehabilitation costs. So that these customers choose the credit period is long, which is 3 years and over.


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