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2016, vol. 54, iss. 1-3, pp. 111-126
Loan agreement and contemporary problems which follow it
Udruženje banaka Srbije
Keywords: loan agreement; currency chuse; interest; interestrate; equal treatment; changed circumstances
Loan agreements in Serbia recently, especially since 2009, apart from the increased nonperformance, suffer from a few common problems, identified through jurisprudence. Basic problem is the understanding of essential terms on which the fulfillment of mutual obligations and existence of the agreement depend. The very essence of understanding the currency clause in the legislation of the Republic of Serbia is its acceptance as an agreement with double nature: the nature of borrowing (loan) and the nature characteristic for FX trading (FX dealer). Through those agreements, the borrower is borrowing a certain amount of hard currency, taking into account that the borrowed funds are to be disbursed to him in RSD, because the borrower is implicitly selling the approved hard currency to his bank. Also, the borrower pays back hard currency installments by submitting the adequate amount of RSD as a price for the hard currency at the FX rate on the due day of each installment. Conscientiousness of both contractual parties, in the process of interpretation of each Loan Agreement with a currency clause, has to be taken into consideration from the perspective of the motive for selecting the concerned currency as a protection of value. Interest, different types of interestrates, their importance in contractual relationships as well as the termination and cancelation of a loan agreement reasons were also the subject of this paper, from both the currency clause and modern court practice aspect. It is very important to mention that, thanks to the regulations adopted by the National Bank of Serbia, the only currency in which a currency clause can be negotiated in Loan Agreements is the Euro, which further means that the explained legal situation loses its climax.


article language: Serbian
document type: unclassified
published in SCIndeks: 15/07/2016

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