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By submitting the manuscript for consideration the authors acknowledge the terms of the LICENSE AGREEMENT and assign the National Bank of Ukraine with the right to use it, including to publish it in the "Visnyk of the National Bank of Ukraine". The authors remain the owner of the copyright of the article. Payment of author’s royalties to the author(s) for the use of the work according with the LICENSE AGREEMENT is not provided for.


This LICENSE AGREEMENT (hereinafter the Agreement) is an agreement in accordance with Article 634 of the Civil Code of Ukraine. It is concluded between the author (co-authors) [hereinafter, the Authors] and the National Bank of Ukraine represented by the Chairman of the Editorial Board of the journal "Visnyk of the National Bank of Ukraine" or other authorized person (altogether, Parties).

1. Scope of the Agreement

1.1. By submitting the paper to the Publisher, the Authors - individual(s) who have created the paper by themselves - unconditionally agree with the terms of this Agreement.

1.2. The Authors provide the Publisher with the exclusive right to use the work for an indefinite period free of charge, and the Publisher publishes the article in the journal "Visnyk of the National Bank of Ukraine".

1.3. The Publisher acquires the right to use the work in the following ways:

1.3.1. Copying, reproduction and technological processing of the whole paper or its any part with the help of the computer equipment of the National Bank of Ukraine by writing, rewriting in digital format.

1.3.2. Reviewing, editing, cutting, processing or modifying the text or images of the paper in hard or soft copies or any other media in accordance with the approval of subediting by the author(s).

1.3.3. Translation of the whole paper or its any part into English or other language.

1.3.4. Inclusion of the paper to the composite work.

1.3.5. Publication, edition, re-edition – issue, replication of the paper in the original language and translated in any media (hard and (or) soft copies).

1.3.6. Distribution (publication) of the work in electronic and (or) paper editions of the National Bank of Ukraine, in any digital format on the web-site of the National Bank of Ukraine, on the internal portal of the National Bank of Ukraine, on the web-site of the Vernadsky National Library of Ukraine.

1.3.7. Inclusion of the title of the paper and information about its Authors in the database (or in the list of publications), and in references and citations in any publications of the National Bank of Ukraine in any media.

1.3.8. Public use of the work or any part thereof during presentations, trainings, round table meetings, press clubs, press conferences referring to the title of the work and the edition in which the paper was published, and to the Authors.

1.3.9. Free distribution of electronic editions with the published (posted) paper through their publications in an electronic form or in any other form, placement on the website of the National Bank of Ukraine, as well as their presentation, transfer with promotional purposes, etc.

1.4. The territory of use is unbound.

1.5. The maximum circulation in any media is unbound.

2. Liabilities of the Authors

2.1. The Authors’ liabilities when submitting the paper to the Publisher:

2.1.1. They own the copyright to the paper.

2.1.2. The work and any of its paper is the original work of authorship, and it has neither been published nor be submitted for publication in any other journal.

2.2. The Authors guarantee the paper does not contain parts or fragments of other paper, which are in copyright by the third parties, illegally, and all quotations from the third party papers are used with appropriate references.

3. Rights of the Parties

3.1. The Publisher has the right to:

3.1.1. Make and/or change the requirements to submission and publication of the papers in the "Visnyk of the National Bank of Ukraine".

3.1.2. Use the paper at its discretion by any means within this Agreement.

3.2. The Authors have the right to:

3.2.1. Receive credible information from the Publisher, which is necessary for completion of the paper as a whole.

3.2.2. Receive reliable data on adjustments and amendments to the paper from the Publisher, give the written and oral consent to include them in the paper by the Publisher.

3.2.3. Lay a claim to their authorship by specifying the appropriate name(s) of the Authors in the paper and its copies and at any public use of the paper, if practicable.

3.2.4. Demand the exclusion of his (their) name(s) when using the paper by the Publisher, having notified the Publisher in writing no later than the end of preparation of the paper for use.

3.2.5. Demand indication of the pen name(s) instead of real name(s) of the Authors in the paper and its copies.

3.2.6. Counteract any distortion, mutilation, change of the paper, if such actions can compromise the honor and reputation of the Author (Co-authors).

4. Liabilities of the Parties

4.1. The Authors agree to:

4.1.1. Deliver to the Publisher a complete manuscript according to the requirements with respect to submission of works, which are placed on the Publisher web-site.

4.1.2. Do not publish the paper in other media (either printed or electronic) in Ukrainian or other languages and distribute it without the written permission of the Publisher.

4.2. The Publisher agrees to:

4.2.1. Provide the review of the paper, scientific, literary, stylistic and technical editing, production and (or) processing of the illustrative materials (pictures, figures, tables, charts, diagrams), making of the paper layout, reproduction and distribution of the paper in any media under the terms of this Agreement.

4.2.2. Agree amendments to the paper with the Authors orally or in writing.

4.2.3. Indicate the names, pen names of the Authors according to information provided by the Authors during the work submission, except as provided in paragraph 3.2.4 of Section III of this Agreement, in case of publication, replication and promulgation of the paper.

5. Responsibilities of the Parties

5.1. The Authors are responsible for the reliability of the facts set out in the work, quotations, calculations, conclusions, references, and (or) for the research motivation of the paper.

5.2. The Authors are responsibility to the third parties that claim their right to the paper.

5.3. If the Author (Co-authors) when presenting the paper concealed the fact of its publication in any other editions prior to submitting the paper for consideration by the Editorial Board of the journal "Visnyk of the National Bank of Ukraine", then after confirmation of this fact, the paper is not subject to publication, and the Author (Co-authors) is (are) reported in writing about this, while the given and exclusive license expires.

6. Dispute Resolution Procedure

6.1. The disputes arising from the Agreement performance shall be settled by negotiations.

6.2. If the dispute cannot be settled by negotiations, then it shall be settled at law in accordance with the legislation of Ukraine.

7. Other Terms and Conditions

7.1. If within three months from acceptance of the paper by the Publisher, the paper has not received positive reviews and recommendations to publishing, the Authors are informed about rejection. The Publisher does not correspond with the Authors on the motivation behind the rejection. Then the Publisher doesn’t claim any the rights to the paper, which exclusively belong to the Authors.

7.2. The Agreement does not suggest any royalties to the Authors.

7.3. The Authors agree that the rights to use the paper free of charge by the Publisher cannot be considered an offence against personal property and non-property rights of the Authors.

7.4. This Agreement is an LICENSE AGREEMENT whose terms are determined by the Publisher, and can be concluded by the other Party only via accession to the Agreement as a whole. Providing the Publisher with a paper by the Authors is considered the consent of the Authors to conclude the Agreement under the agreed conditions.

7.5. This Agreement enters into force on the date of providing the Publisher with a work by the Authors.