UA News Brief: Ukrainian farmers are ready for the introduction of electronic agricultural receipts

▪ The Ukrainian Government proposed the Draft Law 9363, aimed at modernizing the enforcement of court decisions and introducing debt collection measures to improve the enforcement process. The bill suggests measures such as seizing debtors' deposits in banks and preventing them from selling vehicles. The goal is to update and optimize the outdated enforcement procedures through digitalization.

The proposed legislation enables the government to take deposits, securities, and other assets held by debtors in banks and financial institutions as collateral for outstanding debts. Additionally, individuals listed in the Unified Register of Debtors would be prohibited from buying or selling vehicles. The bill also emphasizes automating interactions between enforcement agents, state bodies, banks, and non-bank payment service providers, integrating registers to prevent asset disposal by debtors, enhancing debt collection procedures in banks and financial institutions, and establishing automated interaction between the enforcement proceedings system and the securities depository accounting system.

▪ Independent Association of Banks of Ukraine: Ukrainian farmers are ready for the introduction of electronic agricultural receipts. The potential of ‘paper’ or ‘classic’ agricultural receipts is limited due to the cumbersome mechanism of their issuance and circulation. The appearance of a new instrument - electronic agricultural receipts - will change the Ukrainian agricultural landscape.

http://e-news.com.ua