The President of Montenegro is elected using the two-round system; if no candidate receives a majority of the vote in the first round, a run-off is held two weeks later. In order to submit their candidacy to the State Electoral Commission, potential candidates need to collect 7,700 signatures.
Incumbent president Filip Vujanović is ineligible for re-election, having already served two terms as President. President of the ruling DPS, Milo Đukanović, who was touted by the media as the election favourite, rejected the possibility of running for President.
Sources and Further Reading:
Montenegro Presidential Elections
http://www.nsd.uib.no/european_election_database/country/montenegro/presidential_elections.html
Montenegro Calls Presidential Elections For April