The Employment Contract

The employment relation shall be established by an employment contract which shall be concluded between an employee and an employer. The employment contract shall be considered concluded when signed by the employee and the director or entrepreneur. The employment contract instead of directors or entrepreneurs may sign and employees who are authorized by them, while employee must conclude employment contract in person.

Employer and employee may conclude an employment contract either for a indefinite or definite period of time and if in the employment contract has not been determined the period of time of its validity, it shall be considered that such a contract has been concluded for an indefinite period.

The obligation of the employer and employee is to conclude the employment contract exclusively in writing before the beginning of work of the employee. Should an employer fail to conclude the employment contract with an employee before his beginning of work, it shall be considered that the employee has established the employment relation for an indefinite period of time – as of the day of taking the job. Continue reading The Employment Contract

Valuation of the contribution in kind consisting of the securities

Fixing the value of a contribution in kind, which is consisting of the securities is done in two ways:

  • by applying of the special rules which are prescribed by Article 57 of the Law on Companies or
  • by applying of the general rules, which are prescribed by Article 51 of the Law on Companies, for appraisal of the value of a contributions in kind which ought to be entered in other goods.

Valuation of securities by applying of the special rules

According to the provisions of Article 57 of the Law on Companies fixing the value of the contribution in kind, which is consisting of securities, shall be valid if the following conditions are met Continue reading Valuation of the contribution in kind consisting of the securities

Insurance of the claims against foreign insurance company

According to the provisions of Article 274, paragraph 2 of Insurance Law until the day of accession of the Republic of Serbia to the European Union, risks may be insured with a foreign insurance company if insurance against those types of risks is not conducted in the Republic of Serbia, as well as other risks which are prescribed by the Government of the Republic of Serbia.

According to the provisions of the Regulation on determining the risks which may be insured, or reinsured with foreign insurance and reinsurance company, which entered into force on 27/06 2015, until the accession of Serbia to the European Union domestic legal and natural persons may insure at a foreign insurance company:

  • investment works in abroad which are performed by local companies, as well as equipment to carry out such works – if it is stipulated by the contract for the implementation of these works or by the regulations of the country where the works are
  • foreign loans on behalf of insurance the return of these loans – if it is provided for by the contract at the request of the creditor
  • ships in the construction or repair – if it is expressly provided for by the agreement concluded with foreign buyer, in other words with the client
  • goods to be exported from the Republic of Serbia, or imported into the Republic of Serbia – if the transport of such goods is not done at the risk of domestic natural or legal persons and goods in international transit (transport)
  • goods in transport and means of transport in relation to maritime navigation, commercial aviation and launching into space (including cargo and satellites), in other words liability which arising on that basis. Continue reading Insurance of the claims against foreign insurance company