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LAW OF UKRAINE

of December 23, 1998 No. 351-XIV

On regulation of goods exchange (barter) transactions in the field of foreign economic activity

(as amended on 14-01-2020)

This Law sets the mode of implementation of goods exchange (barter) transactions in the field of foreign economic activity, the responsibility for violation of its regulations also determines powers and functions of state bodies during control of carrying out such transactions.

Article 1. General provisions

1. Goods exchange (barter) transaction in the field of foreign economic activity is one of types of the export-import transactions which are drawn up by the barter agreement or the contract with the mixed payment method by which partial payment of export (import) deliveries is provided in natural form, between the subject of foreign economic activity of Ukraine and foreign business entity which provides the exchange of goods, works, services balanced at cost in any combination, not mediate movement of means in cash or non-cash form.

Assessment of goods according to barter agreements is performed for the purpose of creation of conditions for ensuring equivalence of exchange, and also for customs accounting, determination of insurance sum, assessment of claims, application of sanctions. Condition of equivalence of exchange on the barter agreement is exchange of goods (works, services) at the prices which are determined by subjects of foreign economic activity of Ukraine on contractual bases taking into account the demand and supply, and also other factors which act on the corresponding markets for the period of the conclusion of barter agreements. In cases, stipulated by the legislation Ukraine, contract prices are determined by subjects of foreign economic activity of Ukraine according to indication prices.

2. In the barter agreement the total cost of goods which are imported, and total cost of goods (works, services) which are exported under this agreement, with obligatory expression in the foreign currency carried by the National Bank of Ukraine to the first group of the Qualifier of foreign currencies is specified.

3. All subjects of foreign economic activity of Ukraine have the right to carrying out goods exchange (barter) transactions according to the legislation of Ukraine.

4. For the purpose of increase in receipts to Ukraine in currency means, in general carrying out goods exchange (barter) transactions in the field of foreign economic activity with goods (works, services) which list is determined by the Cabinet of Ministers of Ukraine can be forbidden to stabilization of monetary national unit and improvement of financial bank system of the state.

Article 2. Terms of carrying out goods exchange (barter) transactions

1. Goods which are imported according to the barter agreement are subject to import to customs area of Ukraine in the terms specified in such agreement, but not later than 180 calendar days from the date of customs clearance (date of execution of the customs declaration for export) goods which are actually exported according to the barter agreement, and in case of export according to the barter agreement of works and services - from signature date of the act or other document certifying performance of works, provision of services.

Date of commodity importation according to the barter agreement on customs area of Ukraine date of their customs clearance (date of execution of the customs declaration for import), and in case of import according to the barter agreement of works or services - signature date of the act or other document certifying performance of works, provision of services is considered.

2. part 2 of Article 2 is excluded.

3.  part 3 of Article 2 is excluded.

4. In case of renewal in accordance with the established procedure of the barter agreement on other types of the external economic agreement the terms provided by this Article are not resumed and are not interrupted.

In case when instead of deliveries of goods (works, services) which are imported according to the barter agreement the foreign partner fulfills the obligations by money transfer into the account of the subject of foreign economic activity of Ukraine - the agreement party, the basis for removal from control of customs authority of question of rather import part according to the barter agreement is provision by marked-out subject to customs authority of the certificate of authorized bank of receipt of funds on account of this contract in the terms established by the legislation of Ukraine for the amount equivalent to the cost of goods (works, services) noted in the agreement, and the copy of supplementary agreements which predetermine change of nature of the agreement.

In case of change of terms of the contract which provides replacement of obligations concerning payment of goods by the foreign partner in cash on obligations on delivery of goods (works, services) the Ukrainian supplier submits copies of the agreement and supplementary agreements of tax authority.

Article 3. Responsibility for violation of terms of carrying out goods exchange (barter) transactions

1. Violation by the subject of foreign economic activity of Ukraine of the commodity importation terms (performance of works, provision of services) provided by part one of article 2 of this Law which are imported according to the barter agreement involves collection of penalty fee for each day of delay in the amount of 0,3 of percent of cost of uncollected goods (works, services) which are imported according to the barter agreement.

The general size of the added penalty fee cannot exceed the debt size.

2. If the debt on the barter agreement arose in force force majeur circumstances (force majeure circumstances), terms provided by part one of article 2 of this Law stop and the penalty fee for their violation during action of these circumstances is not levied.

Approach and the end of action of force majeure circumstances shall be confirmed with the reference of the official organ authorized by the state where such circumstances took place. Circumstances of force majeure prove to be true in the procedure established by the law.

3. In case of acceptance by court, International commercial Arbitration Court or Maritime arbitration commission under Chamber of Commerce and Industry of Ukraine or other authorized arbitration, including in other country, the action for declaration about debt collection which arose owing to non-compliance with the terms and other conditions defined by the barter agreement the terms provided by part one of article 2 of this Law stop and the penalty fee for their violation during this period is not paid.

In case of acceptance by court, Arbitration Court of the decision on refusal in the claim fully or partially or the termination (closing) of implementation on case or leaving of the claim without consideration the terms provided by part one of article 2 of this Law are resumed and the penalty fee for their violation is paid for each day of delay, including the period for which these terms were stopped. In case of partial refusal in the claim the penalty fee is charged only in that part which it was refused.

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