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Regulation on methodology for determining the amount under the bank guarantee that the public warehouse for agricultural products submits to the Compensation Fund.

Country/Territory
Serbia
Document type
Regulation
Date
2010 (2011)
Source
FAO, FAOLEX
Subject
Food & nutrition
Keyword
Fruits/edible nuts Cereals/grains/rice Transport/storage Vegetables/legumes Special fund Liability/compensation Legal proceedings/administrative proceedings Agricultural commodities
Geographical area
Europe, Europe and Central Asia
Entry into force notes
This text entered into force eight days after its publication in the Official Gazette (originally published on 19 March 2010).
Abstract

This Regulation, as for the purposes established by the Serbian Law on public warehouses for agricultural products, prescribes the methodology for determining the amount under the bank guarantee that a public warehouse for agricultural products is obliged to submit to the Compensation Fund. In order to ensure the collection of all claims of the Compensation Fund from public warehouses, arising in connection with the storage of agricultural products, the public warehouse submits to the Compensation Fund an irrevocable, unconditional and payable on first call-bank guarantee in the amount equivalent up to 10% of the goods (also in relation to the total registered capacity of that specific public warehouse). The guarantee is issued with a validity period of 60 days longer than the expiration of the license for the operation of that public warehouse. Stored products or goods in terms of this Regulation are as follows: cereals and industrial plants; and fresh or semi-processed fruits and vegetables.

Full text
Serbian
Website
www.pravno-informacioni-sistem.rs

References - Legislation

Implements

Law on public warehouses for agricultural products.

Legislation | Serbia | 2014 (2018)

Keyword: Transport/storage, Public participation, Authorization/permit

Source: FAO, FAOLEX