Contract on control and management

According to provisions of the Companies Act a contract on control and management shall be concluded in the case of forming an contractual group of companies. A contractual group of companies consists of a controlling company and one or more controlled companies that have entered into a contract on control and management.

A contract on control and management is regulated by the provisions of Articles from 554 to 566 of the Companies Act.

Concept, Conclusion, Amendments and Termination

Concept

A contract on control and management is a contract whereby a company grants the management and conduct of operations to another company.

If the companies making up a group based on equality in terms of Article 551 paragraph 2 item 3) of the Companies Act enter into a contract introducing uniform manner of management, such a contract is not be deemed to be a contract on control and management in terms of the Companies Act. Continue reading Contract on control and management

Reasons for termination of employment relation

According to the provisions of the Labour Law an employment relation shall be terminated:

  • after the expiry of the period it was concluded for
  • when an employee reaches the age of 65 and a minimum of 15 social insurance years, unless otherwise agreed between the employer and the employee
  • by an agreement between the employee and the employer
  • by notice of cancellation of employment contract by the employer or the employee
  • at the request of a parent or guardian of an employed minor under 18 years of age
  • in the event of death of the employed
  • in other cases specified by the law.

Employment relation of an employee shall terminate independently of his intent and the intent of the employer:

Factoring contract

Factoring shall be a financial service of buying and selling of existing non matured or future short-term monetary receivable, that arose from a contract of sale of goods or provision of services at home and abroad.

Participants in factoring shall be:

  • The assignor, who sells to the factor its receivable against the debtor that arose from a contract of sale of goods or provision of services, shall be a bank, a company or an entrepreneur based in the Republic of Serbia, and also those persons with headquarters abroad, registered in accordance with the local regulations
  • The factor, who buys receivables from the assignor, shall be:
    a bank, in terms of the law governing the operations of banks
    a company organized as a corporation or limited liability company, headquartered in the Republic of Serbia, which has the approval of the ministry responsible for finance affairs to perform factoring
    a foreign bank or a foreign company – exclusively in international factoring
  • The debtor shall be a bank, a company or an entrepreneur based in the Republic of Serbia, or such persons domiciled abroad, registered in accordance with the local regulation. Continue reading Factoring contract