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Enforcement Mechanisms in Informal Finance by Uju Anaedu-Okoye is a document available to read on EtoBox.

What is Enforcement Mechanisms in Informal Finance about?

Formal enforcement mechanisms rely on state power and legal systems to compel compliance with contracts. In Ghana, formal financial transactions can be enforced through the court system according to the Contracts Act and other relevant laws. However, using the legal system to enforce contracts can be an expensive and lengthy process, taking over a year on average to reach a resolution. While legal enforcement does provide an independent forum, the high costs and time involved may exclude informal financial

Author

Uju Anaedu-Okoye

Language

EN