JURIDICAL OVERVIEW OF LEGAL PROTECTION FOR BORROWERS IN ONLINE LOAN AGREEMENTS (PEER-TO-PEER LENDING) IN THE USE OF SHOPEE SPINJAM

Abstract

Shopee Spinjam is a application that is utilized to provide online cash loans to users. However, in its implementation, various issues arise, such as the legal protection for borrowers in the agreement and how defaults are handled in the execution of the agreement.This research discusses the legal protection available and the consequences of default. The research employs a normative research method through legal approaches and case studies. It is conducted by the author in a normative manner and is based on the author's thoughts with supporting references.Based, the conclusion is drawn that legal protection for borrowers in peer-to-peer lending agreements is regulated and supervised by the Financial Services Authority (OJK) through POJK1/POJK.07/2013 regarding Consumer Protection in Financial Services. It is also governed by the Consumer Protection Law Number 8 of 1999. Furthermore, Article 1313 of the Civil Code (KUH Perdata) also regulates legal provisions regarding default in Shopee Spinjam.The legal regulation governing default in Shopee Spinjam is outlined in Article 1313 of the Civil Code. Additionally, Article 1239 of the Civil Code explains that in an agreement, if the debtor is unable to fulfill their obligations, they will be liable for the costs and interest. The creditor, as in Article 1240 of the Civil Code, has the right to request the annulment of the agreement without forfeiting the right to seek compensation if there is a valid reason.As a recommendation to the Government is advisable to establish specific regulations concerning standard agreements, such as those applicable to Shopee Spinjam user.