The Draft Bill on Prioritized Maritime Claims and Mortgages on Ships (bill) has been drafted with the express intent of providing greater legal certainty for both creditors and debitors. For an archipelagic nation such as Indonesia that relies heavily on commercial shipping the need for a separate regulatory framework to cover mortgages over ships and the prioritizing of maritime claims has been a long time in the making.
Prioritized Maritime Claims and Ship Mortgages (Hipotek) - Draft Bill
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