Termination of a Contract or Strike-off of Data on a Registered Contract

The Application Form for Registration of Termination of a Contract or Strike-off of Data on a Registered Contract is available in the section “Forms”.

INSTRUCTIONS ON HOW TO COMPLETE AN APPLICATION FORM FOR REGISTRATION OF TERMINATION OF A CONTRACT OR STRIKE-OFF OF DATA ON A REGISTERED CONTRACT

The Application form for registration of termination of a contract or strike-off of data on a registered contract can be submitted by:

  • the lessor;
  • the lessee, if this is specified by the financial leasing contract; and
  • any interested party.

If the applicant is a legal entity, the application shall be signed by a legal representative of the company or other legal entity, a representative duly authorized to represent the company, by an act or decision of the competent body of the company, and a procurator.

The application can also be submitted by another authorized person, i.e. a proxy, provided that the authorization, i.e. a power of attorney for representation is attached to the registration application. A procurator cannot transfer the authorization for representation to a third person.

If the applicant is a natural person, and the application is submitted through a proxy who is not an attorney-at-law, the application shall be accompanied by a power of attorney certified by the body competent for certification of signatures.

Besides the lessor and the lessee, the application can also be submitted by an interested party, i.e. any party that has a certain legal interest to register the termination of a financial leasing contract in the Financial Leasing Register, or to strike-off the data on a registered financial leasing contract from the Financial Leasing Register. The interested party should submit appropriate evidence corroborating with certainty such a capacity of the interested party.

Page 1 - “Information on the applicant”

If the applicant submits the application directly at the Agency, it is necessary to indicate in the application form whether s/he requests to be issued a certificate on the submitted application.

If the applicant acts upon an earlier application that was rejected, the number of the decision rejecting the application submitted earlier must be stated in the application form.

The applicant must indicate the number under which a financial leasing contract, whose termination or strike-off is sought, is registered with the Financial Leasing Register.

In the section “Information on the applicant”, it is necessary to mark the appropriate box that refers to the general information on the applicant, by ticking the box in front of the appropriate type of the applicant. If the applicant is a natural person, the fields contained on the left-hand side of the form shall be filled out. If the applicant is a legal entity or a state authority, the fields on the right-hand side of the form shall be filled out, in particular:

  • for a natural person who is a domestic national, it is necessary to state the first and last name, unique master citizen number (“JMBG”), place and country of residence, street and street number of residence/domicile; for a natural person who is a foreign national, it is mandatory to state the first and last name, passport number, passport issuing country, place and country of residence, street and street number of residence/domicile;
  • for a domestic legal entity or state authority, it is necessary to state the registered business name/name, registration number and address of the registered office; if the party to a right of pledge is a foreign legal entity, it is necessary to state the registered business name, the designation under which it is kept in the foreign register, the name of that register, place and country of the registered office and address (street and number) of the registered office.

If the registration application is submitted by a natural person, his/her signature, or the signature of the proxy, shall be affixed to the first page of the application form, and if the proxy is an attorney-at-law, his/her seal shall be affixed as well.

If the registration application is submitted by a legal entity, the seal and the signature of the authorized person shall be affixed to the first page of the application form. If the registration application is submitted by a proxy of the legal entity, the proxy’s signature shall be affixed to the application form, and if the proxy is an attorney-at-law, his/her seal shall be affixed as well.

As of 1 October 2018, business entities are not obliged to use their seals in business letters and other documents (Article 25 of the Company Law, Official Gazette of the RS, Nos. 36/2011, 99/2011, 83/2014 - other law, 5/2015, 44/2018, 95/2018 and 91/2019).

If the registration application is submitted by a proxy who deposited his/her power of attorney with the Serbian Business Registers Agency, it is necessary to indicate the number under which the power of attorney was deposited.

The capacity of the signatory of the application must be indicated in the application form, by ticking the box in front of the appropriate name (the lessor, personally; proxy/representative of the lessor; the lessee, personally; proxy/representative of the lessee). If the application is submitted through a proxy or representative, his/her first and last name and capacity must be stated in the field provided in this respect.

Page 2 - “Method of delivery of the Registrar’s decision and the accompanying documentation”

Delivery of a written copy of the Registrar's decision is made only at the explicit request of the applicant. This means that the applicant has to indicate in the application form that s/he requests the delivery of the Registrar's decision and choose one of the offered delivery methods. If the applicant fails to do so, a written copy of the Registrar's decision will not be delivered, and the applicant will be able to get acquainted with the content of the decision through the website of the Serbian Business Registers Agency, the Financial Leasing Register.

In the field “Documentation attached to the application”, it is necessary to specify each individual document attached to the registration application form, including proof of payment of the registration fee.

Page 3 - “Legal grounds for registration of termination of the financial leasing contract or strike-off of data on the registered contract from the Financial Leasing Register”

On page 3, it is mandatory to tick the box in front of the appropriate type of legal grounds for registration of termination of the financial leasing contract or strike-off of data on the registered contract from the Financial Leasing Register.

If the lessee has settled all the obligations under the financial leasing contract, it is necessary to tick the box in front of “Settlement of obligations”.

If the financial leasing contract was terminated due to the expiration of the term for which it was concluded, it is necessary to tick the box in front of “Expiration of the term for which the contract was concluded”.

If the financial leasing contract has been rescinded (e.g.: contract rescission by agreement, etc.), it is necessary to tick the box in front of “Rescission of the contract”.

If the leased asset has decayed, it is necessary to tick the box in front of “Decay of the leased asset”.

If the legal grounds for termination of the financial leasing contract or strike-off of data on the registered contract is such that it does not fall into any of the above categories, it is necessary to tick the box in front of “Other”.

More precise information on the grounds for termination of the financial leasing contract or strike-off of data on the registered contract should be provided in the field “Detailed description”.

DOCUMENTATION TO BE ATTACHED TO THE APPLICATION

The documentation to be attached to the registration application is prescribed by the Rulebook on the Content of the Register of Financial Leasing and Documents Required for Registration, which is available in the section “Laws and By-laws”.

For registration of termination of the contract, depending on the reason for termination, different documentation is attached:

  • Lessor’s confirmation that the lessee has settled all of his contractual obligations;
  • Notice by which one contracting party informs the other that the contract period has expired;
  • Consensual rescission of the contract, a final court decision to rescind the contract, or other appropriate document corroborating with certainty that the contract has been rescinded pursuant to the law governing financial leasing operations and the law governing contracts and torts;
  • Appraisal of damage on the leased asset made by an insurance company in case of destruction of the leased asset, or other document corroborating with certainty that the leased asset has decayed (e.g.: the minutes of the insurance company, in which it is stated that there was total damage to the vehicle - the object of lease, etc.);
  • A document corroborating that the leased asset has been taken over by the lessor (minutes of handing over – separate recovery of the leased asset by the lessor in the bankruptcy procedure instigated against the lessee; a decision or another act by the court proving that the leased asset was seized from the lessee in an enforcement procedure upon the lessor’s proposal; or the minutes stating that the leased asset has been taken over by the lessor, signed by both parties to the contract);
  • A court decision or other appropriate document that proves, beyond any doubt, that the financial leasing contract has been terminated.

For the strike-off of data on a registered contract, the applicant shall submit the final court decision establishing that the contract is null and void, i.e., annulling the contract.

The documents submitted in support of the application must be originals, certified excerpts or copies certified by the competent authority.

The data stated in the application form must be identical to the data contained in the documentation attached to it.

If a foreign document is attached to the application, it must be legalized pursuant to the law, and accompanied by its translation into Serbian made by a certified court interpreter.

“Full legalization” is required if the country in whose territory the public document has been issued is not a party to the Hague Convention Abolishing the Requirement of Legalisation for Foreign Public Documents and it has not concluded with our country a bilateral agreement on mutual recognition of public documents without legalization. If the country of issuance is a party to the Hague Convention, the foreign public document must have the proper “Apostille” affixed to it. Where the Republic of Serbia has a ratified bilateral agreement on mutual recognition of public documents without legalization with the country in whose territory the subject public document has been issued, neither legalization nor the “Apostille” stamp is required.

More detailed information on the parties to the Hague Convention and countries with which the Republic of Serbia has ratified bilateral agreements on mutual abolishment of the requirement for the legalization of public documents is available here.

A document made in a foreign language shall be accompanied by a translation thereof, which must be made by a court-appointed interpreter.

FEE FOR REGISTRATION OF TERMINATION OF A FINANCIAL LEASING CONTRACT OR STRIKE-OFF OF DATA ON A REGISTERED CONTRACT

The amount of the fee for the registration of termination of a contract or strike-off of data on a registered financial leasing contract is stipulated by the Decision on Fees for Registration and Other Services Provided by the Serbian Business Registers Agency.

The fee for the registration of termination of a contract or strike-off of data on a registered financial leasing contract shall amount to RSD 1,000. An additional fee for the untimely filed registration application shall amount to RSD 3,000.

Payment details

The fee for registration of termination of a financial leasing contract or strike-off of data on a registered financial leasing contract is to be paid to the account of the Serbian Business Registers Agency:

  • 840-29770845-52, model 97, reference number (click on the “reference number” link and make sure to enter the obtained number, generated by the system, in the payment slip).

ACTING UPON AN EARLIER APPLICATION THAT WAS REJECTED

If his earlier application was rejected, the applicant may, within 30 days of the publication of the decision rejecting the earlier application, submit a new application, remediate any established deficiencies and pay half of the fee prescribed for the subject registration. In that case, the applicant should submit:

  • a new, duly completed registration application, which shall state the number of the decision rejecting the earlier application (the new application should be fully complete, and not partially complete, given that this is a new application for registration);
  • the missing and/or rectified documentation (if the rejecting decision specified the documentation that was not enclosed and/or the deficiencies of the enclosed documentation);
  • proof of payment of half of the amount of the prescribed registration fee (this amount shall be always indicated in the reasoning of the rejecting decision).

Important notes:

If the applicant acts upon an earlier application that was rejected, the number of the earlier application that was rejected must be stated on the first page of the application. Otherwise, the Registrar shall consider the submitted application as a new application and shall assess the compliance with registration requirements only based on the documentation accompanying it.

If the applicant files a new application while at the same time filing an appeal against the decision on rejection, it will be deemed that no action was taken to complete the missing requirements and the appeals procedure will run its course.