The first promissory notes in amount of 24 million denars have been issued nearly two weeks after introducing the new instrument. The government expects the instrument to be well-received by the business community, according to the current interest by companies.

"Only a few days after the official launch of the promissory note, the first two promissory notes in amount of 24 million denars have been already issued," Vice PM and Finance Minister Zoran Stavreski told a press conference Wednesday in the Central Register of Macedonia.

Thus, he added, the promissory note becomes a reality in Macedonia as yet another quality, safe and swift instrument for ensuring payments, which in fact protects the payees. At the same time, this instrument is also useful for the makers i.e. those firms willing to have a good reputation will not have dilemmas whether to make a promissory note.

The Minister stressed that the promissory note was designed upon a request by the business community and was useful for entrepreneurs, because "it allows the payment to be safely made and in a simple manner."

"One of its advantages is that this is a simple instrument, because we have simplified the conditions for the procedure needed to sign the instrument and to be realised if need be. The advantage is that through the instrument, long-running court proceedings will be avoided," Stavreski said.

Based on the interest shown by companies, he emphasised, the instrument will be well-received and in these difficult circumstances due to the economic crisis in Europe, the private sector will use this opportunity and the instrument in order to lower the risk and uncertainty from mutual payments by business subjects.

The promissory note effectively is a document in which the debtor company agrees to a forced payment of its outstanding liabilities to a creditor whereby the payment can be done from any and all debtor's accounts. In cases when funds cannot be collected from accounts, the note assumes that the debt can be paid from other properties owned by the debtor company.