Sunday, December 09, 2018

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Register of agreements on financing agricultural production

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Register of agreements on financing agricultural production started its activity within the Serbian Business Registers Agency on 1 June 2015. It is a unique, centralized, public, electronic repository of data on stipulated financing agreements and documents supporting the registration of these agreements, pursuant to the Law on financing and securing financing of agricultural production (RS Official Gazette No 128/14).

Software necessary for the operation of the Register is developed within the technical assistance project supported by the Food and Agriculture Organization of the United Nations (FAO) and the European Bank for Reconstruction and Development (EBRD).

An agreement on financing agricultural production is an agreement under which the debtor undertakes the obligation to perform a certain non-monetary (commodity) or monetary obligation towards the creditor in return for the funds received from the creditor for financing its agricultural production.

An agreement on financing agricultural production stipulated pursuant to the Law on financing and securing financing of agricultural production, as well as any amendments to that agreement are deemed effective only if made in writing, dated, executed and duly registered with the Register of Agreements on Financing Agricultural Production pursuant to regulations governing the Serbian Business Registers Agency and the procedure of registration with the Serbian Business Registers Agency.

The creditor may secure its claim under the Agreement on financing agricultural production by establishing a pledge on future agricultural products. The pledge agreement is stipulated in writing and registered with the Pledge Register.

The Register of agreements on financing agricultural production contains the following data:

  1. date of stipulation of the agreements on financing agricultural production,
  2. data on the creditor and debtor, specifically:
  • for legal entities (name, seat, registration number, tax identification number (TIN), and unique personal identification number (UPIN) of the authorized representative);
  • for entrepreneurs (name, seat, registration number, TIN, name and surname, UPIN and address of temporary or permanent residence);
  • for natural entities – (name and surname, UPIN and address of temporary or permanent residence).

3. description of the primary obligation of the creditor – cash or other resources that can be quantified in money that the creditor is giving to the debtor;

4. description of the primary obligation of the debtor, specifically:

  • for commodity obligations – name of crop, variety and quantity of agricultural products that the debtor is required to deliver to the creditor and/or;
  • for cash obligations, i.e. money that the debtor must pay to the creditor – the principal amount of the claim and interest rate, if any.

5. data on substitution of the primary obligation of the debtor (commodity or cash), and the method for the calculation of the secondary obligation (according to the principle of equal value of mutual deliveries);
6. date of maturity, place and terms of delivery and/or payment;
7. data on collateral, if any, i.e. on means pledged as security for the settlement of the creditor’s claim (pledge on future agricultural products, pledge on movable property and rights, mortgage or other);
8. if the creditor’s claim is secured by a pledge on future agricultural products or mortgage on agricultural land or agricultural facility – data on the production venue, i.e. land or building under mortgage, (cadastral municipality, lot number, description of the land or property and other data from the Real Estate Register);
9. registration number of the agricultural holding – if the debtor is an agricultural holding;
10. data on the start and end of a statutory pledge.

Regulations available on the website:

  • Law on financing and securing financing of agricultural production (RS Official Gazette No 128/14);
  • Law on pledge on registered movable property and rights (RS Official Gazette No 57/03, 61/05, 64/06-corr. And 99/11 – as amended);
  • Law on contracts and torts (RS Official Gazette No 29/78, 39/85, 45/89 – decision of the Constitutional Court of Yugoslavia and 57/89, FRY Official Gazette No 31/93 and Serbia and Montenegro Official Gazette No 1/03 – Constitutional Charter);
  • Law on foundations of property law relations (SFRY Official Gazette No 6/80 and 36/90, FRY Official Gazette No 29/96 and RS Official Gazette No 115/05 – as amended);
  • Rulebook on the Register of Agreements on Financing Agricultural Production and documents submitted in support of registration of data (RS Official Gazette No 44/15);
  • Decision on fees for registration and other services provided by the Serbian Business Registers Agency (RS Official Gazette No 119/13, 138/14, 45/15, 106/15, 32/16 and 60/16).
  
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