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

Professional liability insurance in Serbia

Professional liability insurance provides insurance protection to the insured for claims for compensation of ordering parties of services that are the result of professional fault of the insured in performing the registered activity and for which the Insured is liable under the law.

Professional fault is a violation and / or derogation of the existing codes of practice, established standards or the established rules of attention, applicable to a particular profession for which insured shall be responsible in accordance with the applicable regulations. Continue reading Professional liability insurance in Serbia

Contract for the supply of services

According to the provisions of Article 199 of Labour Law an employer may conclude with a particular person a contract for the supply of services for the performance of jobs outside employer’s line of business, and with the aim of independent manufacture or repair of a particular item, or independent carrying out of particular physical labour or intellectual work.

The contract for the supply of services may be entered into with a person performing artistic or other activities in the sphere of culture as well, in conformity with the law provided that such a contract for the supply of services must be in accordance with the single collective agreement relating to persons engaged in independent activity in the spheres of arts and culture, where such collective agreement has been concluded.

The contract for the supply of services shall be concluded in written form. Continue reading Contract for the supply of services