Parties to a financial leasing transaction

Law on financial leasing governs:

  • financial leasing transactions
  • financial lease agreements
  • rights and obligations of parties to a financial leasing transaction
  • terms of performing financial leasing transactions
  • supervision of Lessors’ operations and
  • the Register of Financial Leases.

Financial Leasing Transaction

A financial leasing transaction means a financial intermediation transaction which is performed by the Lessor and implies that the Lessor, while retaining the right of ownership of the Lease Asset, transfers to the Lessee, for an agreed period of time, the right to possession and use of the Lease Asset, including all risks and rewards incidental to ownership, in return for the Lease Payment which the Lessee pays to the Lessor, provided that at least one of the following conditions has been met: Continue reading Parties to a financial leasing transaction

Cession of claims by contract

Cession of claims by contract is governed by the provisions of Articles 436 to 445 of the Law on Obligations and resulting in a substitution of creditor in obligations.

Subject of Contract

A creditor may carry out the cession of his claim by a contract entered into with a third person, except a claim whose transfer is not permitted by statute, or which is restricted to creditor’s
person, or whose very nature is incompatible with transferring to another.

Cession of claim by contract respectively a contract of cession shall have no effect for a debtor if he and the creditor have stipulated that the latter shall not be able to assign the claim to another, or that he shall not assign it without the debtor’s consent. Continue reading Cession of claims by contract

Administrative contract

The Law on General Administrative Procedure, which will apply from June 01, 2017, for the first time in the Serbian legal system introduces the definition of administrative contract.

The mentioned law regulates basic issues related to all administrative contracts (conclusion, the contracting parties, changes due to changed circumstances, termination and legal remedies – objection and appeal). Particular types of the administrative contracts shall be regulated by the provisions of particular regulations.

Whereas the administrative contract deviates from the general regime of resolving in administrative matters, as well as from the classic contract law, on administrative contracts shall be applied pursuantly the other provisions of The Law on General Administrative Procedure and subsidiary provisions of the Law on Obligations. Continue reading Administrative contract