The Director of the Serbian Export Credit and Insurance Agency’s Factoring Sector, Ognjen Terzic, spoke about the need for legal regulation in the sphere of factoring. Factoring is a type of financing based on assigning claims for goods delivered or services rendered to a client with deferred payment deadlines. Terzic said that the adoption of the law on factoring, which is currently in draft form, would regulate the existing legal gaps, ensure higher legal security of participants in factoring and stimulate competition in the finance sector. The Committee members were interested in the effect of the legal regulation in the sphere on the economy and economic subjects, the number of companies in Serbia using factoring services, as well as the price of said services.
The Director of the Office for Regulatory Reform and Regulatory Impact Assessment, Mira Prokopijevic spoke of the process and practice of regulatory impact assessment. She stressed that a lot has been done on regulatory reform in Serbia in the past years and the legislative activity has been very intensive due to the need to harmonise the national with the European legislation, as well as due to a lack of or the outdated nature of the existing regulation in certain areas. The participants of the seminar were presented the goals achieved by the 2008-2011 Regulatory Reform Strategy of the Republic of Serbia, stressing the need to adopt a new strategy. They were also shown what regulatory impact assessment in fact entails, the specific steps of the assessment, when it should be employed and what the benefits of the regulatory impact assessment are.
The seminar is part of the programme to strengthen the capacities of the National Assembly’s working bodies implemented by the National Assembly in partnership with USAID.