Claim for Payment of Debt Denominated in Foreign Currency
It is not uncommon for monetary obligations to be contracted in a foreign currency, even when both parties are domestic individuals or business entities registered in the Republic of Serbia. However, in such situations, the question arises whether the creditor of a foreign-currency claim is entitled to request payment in the foreign currency itself or in the dinar equivalent. In accordance with Article 395 of the Law on Obligations (“LO”), if a monetary obligation is denominated in a foreign currency or in gold, its fulfilment may be requested in domestic currency according to the exchange rate applicable at the time...