Purpose: Supporting the NBU in the preparation of a regulation on factoring operations in Ukraine, as well as assisting with its implementation.
Areas of assistance:
- reviewing the legal and regulatory framework for factoring operations in Ukraine and preparing a concept paper with recommendations on the most appropriate legal and regulatory solutions in the area of regulating factoring and receivables financing
- drafting the necessary legislative proposals to regulate factoring activities in Ukraine, including amendments to the Civil Code of Ukraine, and, if necessary, drafting a regulation, including amendments to the current regulations of Ukraine on factoring
- facilitating capacity development and/or activities to disseminate information on international best practices in the field of factoring and new factoring legislation, and explaining the benefits of factoring to the participants of the Ukrainian market.
Products implemented for the NBU, and key events:
- an expert assessment of the Concept for Reforming Factoring Regulation in Ukraine developed by the NBU was carried out
- an analytical report (policy paper) on the legal and regulatory framework for factoring in Ukraine was prepared
- expert support was provided for the development of the draft Law of Ukraine On Factoring (work on the draft law is close to completion).