Auction Info

What is Auction Info ?

Execution auction is a legal action taken when a debtor is unable to fulfill their obligations and has assets pledged through a security right. In this process, the assets are sold through an auction mechanism supervised by an authorized authority, such as the State Wealth and Auction Service Office (KPKNL).

The purpose of an execution auction is to settle debts that the debtor cannot meet, using the proceeds from the sale of the pledged assets. This process serves as a fair and structured solution, ensuring that the rights and obligations of all parties are legally protected within the context of the security right transaction.

The BRI Info Lelang website provides information on assets being sold, either through auction mechanisms or amicable sales. The assets listed on this auction information website are those pledged as credit collateral by debtors at Bank BRI. Assets listed as “auctioned” are those whose sale transactions are conducted through the auction mechanism. Assets listed as non-auctioned are those sold through amicable sales transactions based on an agreement between the asset owner and the prospective buyer.

The seller in the “auction” mechanism is an individual, legal entity/business, or institution authorized by law or agreement to sell goods through auction, in this case, Bank BRI. In contrast, the seller in the (non-auction) mechanism is the asset owner/Bank BRI customer. In this context, Bank BRI merely assists in informing the public about the asset (advertising). The seller can determine the limit value or minimum bid price for the auctioned asset.