The Committee on Judicial Policy recommends that the Parliament should refine the draft law on amendments to several legislative acts of Ukraine re refinement of legal regulation of guarantees

Information Department of the Verkhovna Rada of Ukraine Secretariat
04 November 2013, 16:02

The bill (Reg. No. 2142a) suggests refine the notion of “guarantees”; eliminate collisions in the part of the list of objects of guarantee relations, primarily of persons who are entitled to issuing guarantees; and determine the procedure of change of a party in the guarantee, etc.  

The document supplements article 560 of the Civil Code of Ukraine with a provision on guarantee conditions.

The bill suggests a new version of article 562 of the Civil Code of Ukraine. 

The bill suggests exclude article 200 of the Economic Code concerning bank guarantees to secure fulfillment of economic commitments.