Electronic agricultural receipts will appear in Ukraine

The Verkhovna Rada of Ukraine adopted the draft law "On Agrarian Notes" in the second reading and as a whole. As Yaroslav Zheleznyak, the first deputy head of the Committee on Finance, Tax and Customs Policy, noted regarding the decision that was adopted on February 22, the draft law is aimed at expanding the mechanisms for attracting financing in agricultural production by introducing a new financial instrument for crediting agricultural production. These will be agricultural notes in the form of a non-issued security. According to the ideologues of the project, this norm should make a loan popular among farmers attractive to banks.

Also, compared to traditional paper agrarian receipts, agrarian notes will have a significantly simplified procedure for issuance, circulation and their termination. A special register and electronic office for operations with agrarian notes will be created, access to which can be obtained using an electronic signature. This will not require an appeal to a notary, which means spending time and money.

In addition, the advantage of the draft law is the expansion of pledge options, for example, the possibility of pledging live animals and products of animal origin, products of their primary processing, which creates conditions for attracting resources to livestock farms.

It is worth noting that the adopted law will operate in parallel with the existing law on agricultural receipts. This will allow not to destroy economic relations that have already developed on the market using paper agricultural receipts. In the future, market participants will be able to choose an instrument acceptable to them: either paper agrarian receipts or agrarian notes in electronic form.