Oleksandr Polivodskyy: agrarian receipt is important form of charge over future crops but it is not unique in that


Is there any other form of charge of future crops apart from agrarian receipts? The law may not contain provisions that would be construed as restricting the freedom of contract. Accordingly, for the sake of clarity, the wording of article 576 of the Ukrainian Civil Code should be clarified. 

That was the view that Sofiya Law Firm partner Mr Oleksandr Polivodskyy communicated at the round-table discussion ‘Concerns of Use of Future Crops and Equity Interests by Agribusinesses as Charges to Raise Loans.’ The Verkhovna Rada’s Committee on Agrarian Policy and Land Relations held the event these recent days.

According to the expert, farmers should use all available forms of lending. Accordingly, agrarian receipts and charges over equity interests should not be the only way of raising agricultural loans. The expert reminded that the agrarian receipt system was implemented in Ukraine exclusively due to support from international organisations such as the International Financial Corporation (IFC). Nobody should, however, look for help — the system must be reliable and self-sustainable.

Apart from changes to the Civil Code, the lawyer outlined other possible legal amendments in this sector. To learn more please follow this link.

Apart from the members of the Ukrainian Parliament sitting on the Verkhovna Rada’s Committee on Agrarian Policy and Land Relations, the participants to the round-table discussion included the Deputy Minister of Agrarian Policy and Food, authorised representatives of the State Service of Ukraine for Geodesy, Cartography & Cadastre, Ukrainian Ministry of Justice, National Bank of Ukraine, and National University of Life and Environmental Sciences of Ukraine, as well as heads and representatives of specialised agrarian associations.

 

 



25.03.2019
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