Signature requirements
The signature requirements pertain the legal or contractual requirements in order to make a legally effective declaration of intent or a legally binding contract.

Possibility to replace a specific formal requirement of making a binding declaration of intention

Pursuant to the Law on Electronic Documents, Electronic Identification and Trust Services, an electronic document has the equal legal effect and probative force as the written form of the document in accordance with the law. An electronic document cannot be denied as evidence in an administrative or court proceeding, solely because it is created in electronic form. Where the law prescribes a written form of documents or acts, the electronic document will be considered as a document or act in a written form.

Presence of any specific formal requirements to effectively conclude a loan agreement

Under the Law on Obligations, a loan agreement must be concluded in writing. In the loan agreement (i) the amount and (ii) the conditions for granting, using, and repaying the loan must be determined. Regarding the loan agreement based on a pledge of securities, the agreement must be concluded in writing and must contain the designation of the pledged securities, the name – i.e. the company and the seat or domicile of the holder of the securities, amount, and conditions of the approved loan, as well as the amount and value of the securities considered for loan approval.

In the regulatory framework of North Macedonia, pre-contractual information is provided only for consumer loans. These are several key groups of information, starting from, among others:

    i. data and information about the credit product, which include terms of use of the loan, as well as the amount and currency in which the loan is expressed (if possible, in foreign currency loans and the exchange rate that will be applied in the payment of funds and collection of loan instalments);
    ii. the repayment period and the type of collateral for the loan (if required) are also a mandatory part of the set of information; and
    iii. the calculation of the repayments (the amortisation plan) and the dynamics of the repayment instalments, in which the principal and the interest are given, are especially useful for the client and the future repayment of the credit liabilities etc.
In this way, the client has an insight into their obligations in advance and consequently should be organised for their timely repayment, through proper planning of spending future income.

Process of conclusion of a contract by using a qualified electronic signature in practice

Qualified e-signature
A qualified e-signature is an advanced e-signature which is created by a qualified e-signature creation device, and which is based on a qualified certificate for e-signature. The qualified certificate for electronic signature is issued by a qualified trust service provider.

In practice, the most commonly used qualified e-signatures in North Macedonia are based on a qualified certificate and are issued on a qualified signature creation device token, which guarantees that the data used to create the signature (private key) is strictly under the sole control of the signatory and cannot be copied to another medium.

A qualified trust service is provided pursuant to an agreement concluded between the qualified trust service provider and the user, which is concluded upon prior request of the user. The qualified trust service provider before concluding the agreement, should in a clear and unambiguous way notify the person, who submitted the request for qualified trust service provision, about all important circumstances of the use of the service, in particular:

    i. regulations and rules relating to the use of a qualified trust service;
    ii. any limitations on the



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