The paper presents a brief analysis of the most important issues related to the implementation of international standards in Serbian contract law. In that respect, the paper examines main transnational documents relevant for contract law - international conventions and other sources of uniform contract law, the UN Convention on Contracts for the International Sale of Goods (CISG), the sphere of its application, the main differences between the CISG and the Serbian Law of Obligations, the application of the CISG by Serbian courts and arbitrations and the advantages of its application in business practice. Furthermore, it provides readers with an overview of the future Civil Code of Serbia, its central principles, solutions and reforms in the field of contract law, particularly with regard to the acceptance of international standards and principles. The analysis has lead the authors to the conclusion that the future codification in the form of Civil Code is a continuation of the process of full harmonization of Serbian contract law with the internationally accepted standards and achievements of European legal civilization, which can strongly contribute to the overall improvement of business environment in Serbia.