Does the Pledgee Have the Right to Lease Out the Collateral?
Based on Clause 3, Article 313 of the 2015 Civil Code regulating the obligations of the pledgee as follows:
Preserve and safeguard the pledged property; if the pledged property is lost, misplaced, or damaged, compensation must be made for the pledgor.
Not to sell, exchange, give away, or use the pledged property to secure the performance of other obligations.
Not to lease, lend, exploit the utility, enjoy the profits, or returns from the pledged property, except where otherwise agreed.
Thus, if there is no agreement in the contract, the pledgee will not have the right to lease, lend, exploit the utility, enjoy the profits, or returns from the pledged property, which is the motorcycle.
Sincerely!
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