Providing Claims through Bank Guarantee in the Republic of Serbia and the Countries in the Region Cover Image

Obezbeđenje potraživanja bankarskom garancijom u Republici Srbiji i zemljama u regionu
Providing Claims through Bank Guarantee in the Republic of Serbia and the Countries in the Region

Author(s): Vladimir Kozar
Subject(s): Civil Law, Post-War period (1950 - 1989), Transformation Period (1990 - 2010), Law on Economics, Financial Markets
Published by: Institut za uporedno pravo
Keywords: bank guarantee; collaterals; written form; nullity; counter-guarantees; validity; assignment;

Summary/Abstract: The practice of business entities by the term "bank guarantee" means different legal institutes, aimed at ensuring the fulfillment of contract obligations the bank's clients. It is a different means of securing both personal (endorsement guarantee, acceptance bill, documentary credit, etc..) and the actual or the real (pledge, mortgage, lien on securities). Ensuring the fulfillment of contractual obligations is a common feature of these institutes in the wider sense of the "bank guarantee" for the fulfillment of contractual obligations. However, the bank guarantee in the narrow sense is a separate legal institution that has specific characteristics, and that it, in spite of certain common points, significantly different from the above mentioned institutes. The subject of this paper is to provide a bank guarantee claims in the Republic of Serbia and the countries in the region. In addition to the provisions of the Law on Obligations of 1978. years, particularly in the analyzed provisions of the new Law of Obligations in 2008. year, which is applied in the Republic of Montenegro, as well as the provision of bank guarantee at the invitation of the Law on Obligations of the Republic of Croatia, in 2005. year, with the latter's novels. It is also emphasized and the new ruling on bank guarantee in the draft Law of Obligations of the Federation of BiH / Serbian Republic in 2003. year. The provisions on bank guarantee from these regulations in force or being drafted in the countries in the region have similarities but also significant differences in relation to the provision of bank guarantee of the Obligations Act of 1978. year.

  • Issue Year: 2011
  • Issue No: 3
  • Page Range: 188-202
  • Page Count: 15
  • Language: Serbian