The Committee on Agrarian Policy and Land Relations recommends that the Parliament adopts in the Second Reading and in Its Entirety the Bill on Amendments to the Law "On State Aid to the Agricultural Sector of Ukrainian Economics" (regarding the Improvement of the Mechanism of the Agricultural Enterprises Support)

29 April 2010, 13:52

As it was declared in the course of the sitting, the Bill (Reg. No5471) suggests that the agricultural production purchaser is obliged to pay for this production after its admission or admission of the document of title in the term of 40 days. In case of the payment delay a fine is imposed at the rate 01% from the production cost for each day of delay.

 

Pursuant to the Bill, the purchaser of agricultural produce shall pay for it after its acception or acceptation of documents of title within 40 calendar days. In case of the delay in payment, the late payment fee in the amount of 0,1 per cent of unpaid production cost shall be imposed for every day of delay. If the delay exceeds 14 days, the fine in the amount of 7% of stated cost shall be imposed.

 

The Committee members emphasized that the bill adoption facilitates the defining of the exact terms of the debts elimination and fine rate in case compensation absence that would increase the liability on the part of the agricultural production purchasers.