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Businessmen calling for firms collecting debts.

The Economic Chamber of Macedonia is going to propose to the Government to draft a law on financial payment as stipulated by the European directives. Businessmen accepted the proposal of the Skopje Regional Chamber and prepared a package of measures to improve the settlement of liabilities between firms and the state.

Businessmen propose that the new law should create a possibility for establishing companies or banks performing factoring, that is to say, settling liabilities among firms. When a firm submits a collection document, the factoring firm is going to perform the collection from the other firm or the state provided the firm claiming liabilities is entered into the database.

The Chamber expects all firms to enter the database for that is in their best interest. It is also suggested that the collection firms charge 10 percent commission for their services. The Economic Chamber will also demand that the law stipulates a settlement period of not more than two months.
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Title Annotation:BUSINESS NEWS
Publication:INFOMAC Daily News Service
Geographic Code:4EXMA
Date:Oct 1, 2010
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