ANNOUNCED AS TEMPORARYYes
Trade payment measure
In particular, the amendments envisage an increase of the deadline for the settlement of transactions on exports and imports of goods from 90 calendar days to 120 calendar days. These particular liberalisation changes are to remain in force until 14 September 2016.
In addition, with the same legal act, the Nation Bank of Ukraine eases the conditions for exclusive use of letters of credit (LC) by banks as a payment method. Concretely, while previously banks were obliged to use LCs if the contract surpassed 500 000 USD, in the future, they have to use it only for transactions that surpass 1 000 000 USD. This change is also liberalising because it implies less bank commission fees.
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