Various Important Matters Related to the Concept, Characteristics and Content of the Leasing Contract Pursuant to the Law of the Republic of Kosovo on Leasing

Abstract

The leasing contract is one of the most important contracts according to autonomous commercial law. Leasing contract is a contract entered into between a lessor and a lessee that grants the lessee the right to possess and use the leased asset for a period of time as specified in agreement, in return of payment by the lessee as per specified instalments. Issues related to leasing in the Republic of Kosovo are regulated by the 2009 Law on Leasing. The leasing contract appears in different types, but the most important type in Kosovo is the financial leasing. The leasing contract is a new and very important type of contract for the economy of Kosovo. The prospect of its implementation in practice will be of a broad scope, taking into account the main factors that influenced its introduction and implementation in the contemporary economy. Financing investments by this method is a necessity of the era. In this paper, we have considered the most important issues related to the leasing contract, analytically examining the notion of this type of contract, its characteristics, essential elements, legal nature, rights and obligations of the contracting parties - lessors and lessees. We have focused on the specific consideration of this very important contract for the economy of Kosovo. The review was conducted based on the applicable legislation in Kosovo, as well as often focused on the problems that exist in practice in Kosovo.