Maximum settlement term under a foreign trade contract – 90 days

Автор: admin_dev
Maximum settlement term under a foreign trade contract – 90 days

NBU Resolution dated 16.11.2012 No. 475 “On changing the settlement terms for export and import transactions and introducing the mandatory sale of foreign currency receipts”.

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The National Bank has secured the right to temporarily introduce a mandatory sale by exporters of part of foreign currency receipts

NBU Resolution dated 16.11.2012 No. 475 “On changing the settlement terms for export and import transactions and introducing the mandatory sale of foreign currency receipts”

Recall that the signing of the Law “On Amendments to Certain Legislative Acts of Ukraine Regarding the Expansion of Instruments to Influence the Monetary and Credit Market” vested in the National Bank the right to temporarily introduce a mandatory sale by exporters of part of foreign currency receipts and to change the settlement terms for export and import transactions.

Resolution No. 475 of the National Bank, adopted in implementation of the provisions of this Law, was published in the Government Courier on November 17. The document establishes that settlements for export and import transactions , provided for in Articles 1 and 2 of the Law of Ukraine “On the Procedure for Performing Settlements in Foreign Currency”, must be carried out within a period not exceeding 90 calendar days (previously – 180 days).