THE EUROPEAN DIRECTIVE ON COMBATING LATE PAYMENT IN COMMERCIAL TRANSACTIONS AND ITS IMPLEMENTATION IN THE SERBIAN LEGISLATION Cover Image

EВРОПСКA ДИРЕКТИВA О СУЗБИЈАЊУ ДОЦЊЕ У ИСПУЊЕЊУ НОВЧАНИХ ОБАВЕЗА И МОГУЋНОСТ ЊЕНЕ ИМПЛЕМЕНТАЦИЈЕ У НАШЕ ПРАВО
THE EUROPEAN DIRECTIVE ON COMBATING LATE PAYMENT IN COMMERCIAL TRANSACTIONS AND ITS IMPLEMENTATION IN THE SERBIAN LEGISLATION

Author(s): Mihajlo Cvetković
Subject(s): Law, Constitution, Jurisprudence, Civil Law, EU-Legislation
Published by: Правни факултет Универзитета у Нишу
Keywords: late payments; monetary liabilities; interest; compensation for recovery costs; interest rate on arrears

Summary/Abstract: In this paper, the author deals with the European Directive 2000/35/EC on combating late of monetary liabilities in commercial transactions and the viability of its implementation in the Serbian legislation. In the introductory part of the paper, the author defines the concept, the causes and the consequences of late payment in commercial transactions. The second part of the paper deals with the instruments envisaged in the Directive 2000/35/EC, the most important of which are the creditor’s right to receive interest in case of late payment and to claim compensation for all the recovery costs incurred as a result of late payment, as well as the prohibition of contractual clauses which are grossly unfair to the creditor. In the third part of the paper, the author analyses the results of his research on the impact of the Directive 2000/35/EC and points to the innovative solutions contained in the 2009 Proposal for a new Directive on combating late payment in commercial transactions. The fourth part of the paper deals with the shortcomings in the Serbian Act on the Interest Rate on Arrears. In the conclusion, the author points to the solutions which should be taken over from the Directive 2000/35/EC and the new 2009 Proposal and incorporated in the Serbian legislation.

  • Issue Year: LIII/2009
  • Issue No: 53
  • Page Range: 235-256
  • Page Count: 22
  • Language: Serbian