Commercial contracts and arbitration in Serbia

Governing law

In international contracts the parties may, as a rule, choose the governing law. If they do not, Serbian conflict-of-laws rules determine which law applies. Mandatory Serbian rules — for example on real estate, employment and foreign exchange — apply regardless of the chosen law.

Courts or arbitration

Disputes can be submitted to Serbian commercial courts, foreign courts or arbitration. Arbitration in Belgrade is available before the Permanent Arbitration at the Chamber of Commerce and Industry of Serbia and the Belgrade Arbitration Center, as well as ad hoc arbitration under the Law on Arbitration.

Enforcement of foreign awards and judgments

Serbia is a party to the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards, so foreign awards are recognised under its conditions. Foreign court judgments are recognised in a separate procedure under Serbian conflict-of-laws rules. This should be considered when choosing the forum.

Security for payment

Bank guarantees, bills of exchange registered with the National Bank of Serbia, pledges and mortgages, retention of title and escrow arrangements protect the creditor. The right instrument depends on the value and structure of the transaction.

Contract review

A Serbian-law review of contracts drafted abroad identifies clauses that are unenforceable or ineffective in Serbia, formal requirements such as notarisation, and tax and currency implications — before signing, not during a dispute.

Legal basis: Law on Obligations; Law on Resolving Conflicts of Laws with Regulations of Other Countries; Law on Arbitration; Law on Foreign Exchange Operations. Author: Attorney Slaviša Cincarević, member of the Belgrade Bar Association. Last reviewed: 29 October 2026.

This guide provides general information on Serbian law and is not legal advice for a specific case.