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Can a contractual penalty be stipulated in the employment agreement?

June, 2021,
In 2020, Serbian Supreme Court of Cassation reversed the decisions of the lower courts which had found that an employee who had refused to enter into an annex to employment...
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Serbian businesses should prepare for human rights, environmental, and good governance due diligence

May, 2021, , ,
Trade with the EU prompts the need for compliance with EU law Serbia does not yet have legislation requiring its companies and other businesses to monitor the compliance with human...
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Green house gases on the radar: New permitting requirements in sight

May, 2021, , ,
The Serbian Parliament has enacted the Climate Change Act[1] with a view to further harmonize its legislation with its obligations under the United Nations Framework Convention on Climate Change and...
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Is tax brawl between the government and freelancers about to end?

May, 2021, ,
On 21 April 2021, the Serbian Government announced that it has reached a final deal with a group representing interests of freelance internet workers on the partial amnesty for the...
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Can a fixed-term employee be declared redundant under Serbian law?

May, 2021, ,
The provision of the Labour Act allowing termination for redundancy does not distinguish between fixed-term and permanent employees. The distinction between indefinite-term and fixed-term employees is made only with respect...
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National Bank of Serbia refines its position on the permissibility of pledge on local receivables as security for claims of foreign creditors against Serbian debtors

April, 2021, ,
Last week, we critically commented on the NBS’s interpretation of the Serbian Foreign Exchange Act with respect to the permissibility of pledge on local receivables as security for claims of...
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National Bank of Serbia risks own goal with the new position on cross-border secured transactions

April, 2021, ,
The National Bank of Serbia (“NBS“) released interpretative guidance regarding the application of the foreign exchange regulations on certain cross-border transactions. Among other things, the guidance responds to a question...
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Council of Europe’s useful guidance concerning facial recognition

March, 2021, ,
The Consultative Committee of the Council of Europe Convention for the Protection of Individuals with regard to Automatic Processing of Personal Data (“Convention 108+“) developed Guidelines on Facial Recognition, addressed...
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Liberalization of the regime applicable to Chinese citizens working in Serbia

February, 2021, , ,
The Republic of Serbia and People’s Republic of China signed the Social Security Agreement (“Treaty“) which entered into force on 1 February 2021. Chinese citizens employed with Chinese companies but...
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Loans from non-EU IFIs no longer subject to minimum tenor requirements

January, 2021, ,
The National Bank of Serbia (NBS) has updated its regulation of cross-border loans and guarantees involving Serbian borrowers and security providers (Update). The Update allows Serbian borrowers to agree to...
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