Macedonia : Business Environment: Legal Procedure

Macedonia, FYR : Business Environment: Legal Procedure
Infographic SummaryWith higher scores indicating better designed collateral and bankruptcy laws and easier and safer access to credit, the Strength of legal rights index for Macedonia, FYR is 7. There are a total of 37 required procedures (independent legal actions) to enforce a contract in Macedonia, FYR and the process requires on average 370 days to be completed.
Strength of legal rights index (0=weak to 10=strong)Strength of legal rights index measures the degree to which collateral and bankruptcy laws protect the rights of borrowers and lenders and thus facilitate lending. The index ranges from 0 to 10, with higher scores indicating that these laws are better designed to expand access to credit.
Procedures to enforce a contract (number)Number of procedures to enforce a contract are the number of independent actions, mandated by law or courts, that demand interaction between the parties of a contract or between them and the judge or court officer.
Time required to enforce a contract (days)Time required to enforce a contract is the number of calendar days from the filing of the lawsuit in court until the final determination and, in appropriate cases, payment.
Data Source: Worldbank, World Development Indicators