Collection of receivables from debtors in the blockade

Under conditions of the global financial crisis increases the risk of debt uncollectability. The risk of this type primarily depends on the individual claims, payment terms, economic and political conditions in the country, as well as the solvency and creditworthiness of the debtor.

The occurence of the debtor’s inability to fulfill its financial obligations due to blockage of business accounts is one of the biggest risks, whose implementation may result in a debtor’s bankruptcy, but in some cases may represent a cause of the creditor’s bankruptcy.

Answers on some questions, concerning with the possibility of the collection of receivables from a debtor who has in the blockade you can find in this article.

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Legal consequences of a blocked accounts are regulated by the Law on performing payment of legal persons, entrepreneurs and natural persons who do not perform activities. Continue reading Collection of receivables from debtors in the blockade

Subject matter of the right of security

Law on right of security upon movable objects filed in registry (“Official Herald of the Republic of Serbia”, Nos. 57/2003, 61/2005, 64/2006 – correction and 99/2011-other laws) regulates the pledge, without delivering in possession, of movable objects and rights for the purpose of securing a claim of a creditor, the contract of security, the rights and obligations of contracting parties, the filing of the right of security in the registry, the settling of a creditor secured by pledge, and the termination of the right of security.

Movable objects and rights shall be pledged by filing in the Register of Pledges on Movable Property and Rights which has been instituted at Serbian Business Registers Agency.

Legal relations that are not regulated by the Law on right of security upon movable objects filed in registry (“Official Herald of the Republic of Serbia”, Nos. 57/2003, 61/2005, 64/2006 – correction and 99/2011-other laws) shall be subject to regulations covering obligations (contract and torts) and property law relations, and to other regulations. Continue reading Subject matter of the right of security

Registration invoices in comercial transactions

According to provisions of the Law on amendments to the Law on deadlines for settlement of financaial liabilities in commercial transactions, from 01 March 2018 the creditors shall be obliged to register in the Central Registry of Invoices issued invoices and other payment requests in commercial transactions in which public sector entities are debtors, before their delivering to debtors.

The subject to editing of the Law on deadlines for settlement of financaial liabilities in commercial transactions was expanded by adopted amendments, according to the new paragraph 2 of Article 1 of the Law on deadlines for settlement of financaial liabilities in commercial transactions, which reads:

’’This Law shall additionally regulate the registration of invoices and other requests for payments issued by the creditors in commercial transactions between the public sector and the economic operators, i.e. between the public sector operators, in which the public sector operators are debtors.’’ Continue reading Registration invoices in comercial transactions