![](\"https:\/\/eba.com.ua\/wp-content\/uploads\/2021\/10\/Iryna-Dushnik_21102021.png\")
\n\n\t\t\t\t\t\t\tIrina Dushnik<\/span>\n\t\t\t\n\t\t\t\t\t\t\tEBA Grain and Oilseed Committee Executive Director<\/span>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\n\t\t\t\tAfter speaking with EBA companies, we can confirm that there is a demand for the use of this tool. However, the existing legal restrictions do not allow to implement it in full. Therefore, to modernize the instrument, the parliamentarians together with the market have developed draft law \u21162805-d. And the business looks forward to its adoption.\n\t\t\t<\/blockquote>\n\t\t\t\t\n\t<\/div>\n\nIn particular, the draft law deals with the elimination of the collision in the provision of the Law “On Agrarian Receipts” regarding the seven-day period for enforcement of obligations under the agricultural receipt and 30-day waiting period for a notary inscription following the Law “On Securing of Creditors’ Claims”. Draft law \u21162805-d D, with its final provisions, proposes to amend the Law \u201cOn Securing Creditors’ Claims\u201d so that the provisions of this Law do not apply to transactions with receipts. Consequently, the immediate receipt by the creditor of the writ of execution on the agricultural receipt will also be regulated by the general norms of Ukrainian legislation. The draft law also eliminates the liability of third parties for the purchase of products that are likely to be considered collateral under agricultural receipts, as there is no effective mechanism for identifying and separating part of the secured grain \u2013 a commodity characterized by generic features of its total volume.<\/p>\n
Moreover, the draft law defines agricultural receipts as non-issue security that exists in the form of an electronic document in the Register of Agricultural Receipts. Thanks to the integration of the Register of Agricultural Receipts with other government systems, data exchange and verification of user data will be automated, increasing the transparency and reliability of the tool. Users of agricultural receipts will be able to carry out operations directly through their personal accounts in the Register of agricultural receipts. This will speed up the use of agricultural receipts, as well as significantly reduce the cost of transactions with receipts.<\/p>\n
In general, the changes identified in the draft law will increase the funding of agricultural producers by local and international traders, make the tool cheaper, as well as solve the existing “bottlenecks” in sales of agricultural producers who work with receipts.<\/p>\n
The European Business Association conceptually supports the initiated changes to the legislation on the operation and circulation of agricultural receipts under draft law \u21162805-D. Therefore, businesses are very much looking forward to the adoption of draft law \u21162805-D by the Verkhovna Rada in the first reading shortly.<\/p>\n
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