Jaminan fidusia merupakan jaminan kebendaan yang memberikan kepastian hukum kepada Penerima Fidusia melalui pengalihan hak kepemilikan secara yuridis tanpa penyerahan fisik. Dalam praktiknya, piutang sebagai objek jaminan fidusia, khususnya piutang usaha susu sapi perah, berpotensi menimbulkan persoalan mengenai kepastian pelunasan dan risiko. Rumusan masalah penelitian ini meliputi bagaimana pengaturan hukum mengenai pelaksanaan perjanjian jaminan fidusia atas piutang di Indonesia serta bagaimana perlindungan hukum bagi kreditur dan debitur terhadap objek jaminan piutang susu sapi perah. Tujuan penelitian ini adalah mengkaji pengaturan dan perlindungan hukum dalam pelaksanaan jaminan fidusia atas piutang susu sapi perah. Metode yang digunakan adalah yuridis empiris melalui studi lapangan, studi kepustakaan, serta wawancara dengan salah satu Notaris di Kabupaten Kuningan. Hasil penelitian menunjukkan bahwa pengaturan dituangkan dalam klausula akta jaminan fidusia dan surat penawaran putusan kredit berdasarkan Undang-Undang Nomor 42 Tahun 1999 tentang Jaminan Fidusia, yang mengatur pengendalian objek jaminan dan larangan pengalihan, sejalan dengan Pasal 35 yang melarang pemberian keterangan menyesatkan dan Pasal 36 yang melarang pengalihan tanpa persetujuan. Namun, klausula belum mengatur mekanisme penagihan dan upaya hukum terhadap pihak ketiga. Upaya hukum dilakukan terhadap Pemberi Fidusia melalui penagihan, eksekusi, dan penjualan objek jaminan, namun belum pernah dijalankan karena tidak terjadi wanprestasi sehingga masih bersifat normatif dan potensial. Simpulan penelitian menunjukkan bahwa perlindungan hukum belum proporsional karena lebih menguatkan posisi Penerima Fidusia, sementara risiko dari pihak ketiga tetap dibebankan kepada Pemberi Fidusia. Saran dalam penelitian ini adalah perlunya penyempurnaan klausula perjanjian agar lebih jelas mengatur pihak ketiga dan upaya hukum guna menciptakan keseimbangan dan kepastian hukum.
Kata Kunci: Jaminan Fidusia, Piutang, Benda Bergerak Tidak Berwujud, Perlindungan Hukum.

Fiduciary security is a proprietary security right that provides legal certainty to the Fiduciary Recipient through the juridical transfer of ownership rights without physical delivery of the secured object. In practice, receivables as objects of fiduciary security, particularly receivables derived from dairy farming businesses, have the potential to raise issues concerning certainty of repayment and risk allocation. The research problems in this study concern the legal regulation governing the implementation of fiduciary security agreements over receivables in Indonesia and the legal protection afforded to creditors and debtors regarding dairy milk receivables as fiduciary security objects. The objective of this study is to examine the legal regulation and legal protection in the implementation of fiduciary security over dairy milk receivables. The method used in this research is empirical juridical research conducted through field studies, library research, and interviews with a Notary in Kuningan Regency. The results of the study indicate that the regulation is stipulated in the clauses of the fiduciary guarantee deed and the credit approval offering letter based on Law Number 42 of 1999 concerning Fiduciary Guarantees, which regulates the control of guarantee objects and the prohibition of transfer, in line with Article 35 prohibiting misleading information and Article 36 prohibiting transfer without consent. However, the clauses do not yet regulate collection mechanisms and legal remedies against third parties. Legal remedies are carried out against the Fiduciary Grantor through collection, execution, and sale of the collateral object, but these measures have never been implemented because no default has occurred, so they remain normative and potential in nature. The conclusion of this study shows that legal protection has not been proportional because it strengthens the position of the Fiduciary Recipient more dominantly, while risks arising from third parties are still imposed upon the Fiduciary Grantor. The recommendation of this study is the need to improve contractual clauses in order to more clearly regulate third parties and legal remedies so as to create balance and legal certainty.
Keywords: Fiduciary Guarantee, Receivables, Intangible Movable Assets, Legal Protection.