Terms of settlements in Foreign Economic Activity

23/07/2022

Starting from 5 April 2022, settlement deadlines of 90 calendar days will be applied for all export-import operations.

Due to its right to set deadlines, the Board of the NBU decided that in amendments to Resolution No. 18 "On the operation of the banking system during the introduction of martial law" (dated 4 April 2022).

Such changes significantly shorten the terms of calculations compared to the rules applied in peacetime - then they amounted to 365 calendar days.

The shortening of the deadlines is aimed at ensuring the stability of the system, preventing the withdrawal of capital abroad and maximally reducing the possibility of macroeconomic imbalances.

How we can help

We recommend contacting us, if you plan to carry out calculations for operations on the export and import of goods. SCHNEIDER GROUP experts will advise you on the specifics of calculations and compliance with the current deadlines.

About SCHNEIDER GROUP

Since 2006 SCHNEIDER GROUP has been supporting international companies expanding to Ukraine. Our portfolio includes a full scope of services: from market analysis and partner search to complete accounting outsourcing, legal and tax consulting, and interim management services. We take over all non-core business functions so that our clients can focus on developing their business. We help our clients establishing subsidiaries in Ukraine compliant with local legislative requirements and transparent for international management. Our experts offer advice on best practices to optimise processes, reduce risks and minimise costs.

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