Compliance with the deadlines for settlements under foreign trade operations

Entities engaged in export and import of goods are obliged to comply with the settlement deadlines set by the NBU.

As of today, the deadlines for settlements for export and import of goods are set forth in paragraph¹⁴² of Resolution No. 18 of the NBU Board dated February 24, 2022 "On the Operation of the Banking System during the Period of Martial Law" and amount to 180 calendar days.

At the same time, the National Bank of Ukraine, which carries out currency regulation, has established the specifics of applying the deadlines for settlements and completion of currency supervision, namely

- settlement deadlines do not apply to transactions for the export and/or import of goods, the amount of which does not exceed UAH 400 thousand;

- for export of goods, funds from a non-resident are subject to crediting to the resident's current account in a Ukrainian bank;

- impossibility of completing currency supervision over the export/import of goods on the basis of documents on termination of obligations by offsetting counter claims of the same type.

In addition, exceptions and (or) peculiarities of the introduction of deadlines for settlements under transactions for the export and import of goods, as well as the export of services, works, intellectual property rights, import of medical services and tourist products (services) are set out in Resolution of the Board of the National Bank of Ukraine No. 67 dated 14.05.2019 (hereinafter - Resolution No. 67).

It should be noted that clause¹² of Resolution No. 67 stipulates that the deadlines for settlements for exports of goods classified under codes according to UKTZED: 1001, 1002, 1003, 1004, 1005, 1201, 1205, 1206 00, 1507, 1512, 1514, 2306, are 90 calendar days and apply to transactions carried out from November 11, 2023.