Friday, September 21, 2018

Get Adobe Flash player

Practical implementation of the law

Application for registration of agreement

The procedure of registration of financial leasing agreement, as well as amendments and other data, is initiated by filing an application in the prescribed form containing data prescribed by the Law on Financial Leasing; therefore, receipt of the documentation alone, i.e. of the data on the agreement concluded, without the application, is not sufficient for registration of the financial leasing agreement in the Register.

The fee for the registration of the financial leasing agreement in the Register

The fee for registration of the financial leasing agreement in the Register is determined in accordance with the Decision on the fees for registration and other services provided by the Business Registers Agency, and depends on the total amount of lease installments payable by the lessee under the agreement, i.e. the sum total of lease installments provides the basis for setting the contract registration fee.

Registration of amendment to the contract

The agreement on transfer of financial leasing agreement and the new financial leasing agreement cannot constitute grounds for registration of change of the lessee, although this is the legal transaction of change of debtor in contractual relationship, in accordance with the Law on Obligations. In this way, registration of data on the new financial leasing agreement would not be performed, which would stand in contradiction to the obligation of the lessor to register all contracts, as stipulated by Article 49, Paragraph 1, and in connection with Article 50 of the Law on Financial Leasing.

The lessor is a foreign lease company

A financial leasing agreement where the lessor is a foreign leasing company cannot be registered in the Financial Leasing Register, as Article 10, paragraph 1 of the Law on Financial Leasing  requires the lessor to be a limited liability company or joint stock company with registered office in the Republic of Serbia licensed by the National Bank of Serbia for conducting financial leasing activities pursuant to the Law on Financial Leasing.

  
Copyright 2007 by APR