2.8 MILLION DINAR BILL, READING NOT TAKEN FOR TWO YEARS: What the new trade law rules bring
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TL;DR
- New laws in Serbia aim to improve consumer rights and meet EU standards.
- Concerns exist that consumer rights may remain largely on paper, with difficult enforcement.
- Maximum fines for traders have not significantly increased for 15 years.
- New regulations may allow local government acts to supersede consumer protection laws in utility disputes.
- The period for consumers to directly seek refunds for non-conforming goods has been shortened to one month.
- Serbia lacks a functional collective protection system (class actions), allowing large companies to harm millions of users with small individual amounts.
- Positive changes include mandatory warnings before debt collection, clearer warranty regulations, and real-time price updates for retailers.
- Despite formal increases, penalties for violations are considered too low for large corporations to alter their practices.