Regulatory Alerts2013-06-13
Decision on the Offsetting of Debts and Claims under Foreign Credit Operations in Foreign Exchange
The Executive Board of the National Bank of Serbia adopted this Decision to regulate how resident entities may offset debts and claims arising from foreign credit operations, foreign trade, direct investments, or real estate transactions. The regulation specifies that offsetting requires a written agreement or consent between related parties, designates the offsetting date, and prohibits settlement by offset if accounts are blocked due to enforced collection. Residents are mandated to maintain relevant documentation for inspection and report all offsetting activities to the National Bank of Serbia in accordance with existing foreign exchange reporting rules.
Share