Contracts in Ukraine (brief overview)


Ukrainian legislation provides almost equal rights for corporate entities and private persons (including non-resident corporate entities and private persons however with some minor limitations and additional requirements) to enter into various contractual relations. In accordance with Ukrainian law contracts (agreements, covenants, treaties, etc.) are recognized mainly as the instrument to acquire rights and liabilities.

The main Ukrainian laws, which govern contractual relations in Ukraine, are:

- the Civil Code of Ukraine effective as of January 1, 2004 with numerous subsequent amendments, which are continuously included into the same by Ukrainian Parliament (Verkhovna Rada of Ukraine);

- the Commercial Code of Ukraine effective as of January 1, 2004 with numerous subsequent amendments, which are continuously included into the same by Ukrainian Parliament (Verkhovna Rada of Ukraine);

- the Land Code of Ukraine (for operations with Ukrainian land) effective as of January 01, 2002 with numerous subsequent amendments, which are continuously included into the same by Ukrainian Parliament (Verkhovna Rada of Ukraine);

- the Law of Ukraine "On state registration of immovable property rights and encumbrances of the same" effective as of August 03, 2004 with numerous subsequent amendments, which are continuously included into the same by Ukrainian Parliament (Verkhovna Rada of Ukraine);

- the Law of Ukraine "On pledge" effective as of November 11, 1992 with numerous subsequent amendments, which are continuously included into the same by Ukrainian Parliament (Verkhovna Rada of Ukraine);

- the Law of Ukraine "On mortgage" effective as of January 01, 2004 with numerous subsequent amendments, which are continuously included into the same by Ukrainian Parliament (Verkhovna Rada of Ukraine);

- the Law of Ukraine "On the land lease" effective as of October 22, 1998 with numerous subsequent amendments, which are continuously included into the same by Ukrainian Parliament (Verkhovna Rada of Ukraine).

Significant value also has the Law of Ukraine "On private international law" effective as of September 01, 2005, which provides collision norms for drafting, interpretation and execution of international contracts and/or contracts with non-residents of Ukraine.

However contractual relations in Ukraine are also regulated by numerous subordinate legislations, which are also continuously amended by Ukrainian Parliament (Verkhovna Rada of Ukraine).

Actual Ukrainian legislation and legal practice provide the following types of contracts in Ukraine, including international contracts of the same nature:

- Preliminary contract;
- Sale and purchase contract;
- Exchange (barter) contract;
- Gift contract;
- Lease contract;
- Rental contract;
- Hiring contract;
- Land rental contract;
- Rental contract for a building or other capital facility;
- Rental contract for a transport vehicle;
- Dwelling rental contract;
- Financial leasing contract;
- Contracting agreement (locatio-conductio operas);
- Services agreement;
- Commission contract;
- Agency contract;
- Commercial agency contract;
- Storage contract;
- Contract of carriage;
- Loan agreement;
- Contract of guarantee;
- Cooperation agreement;
- License contract;
- Confidentiality, non-disclosure and non-circumvention agreement.

Also should be mentioned that the Civil Code of Ukraine provides the possibility to combine above types of contracts and agreements and to enter into other types of contracts and agreements, which do not contradict with imperative provisions of Ukrainian laws.

One should always remember that most contracts and agreements entail certain tax consequences depending on tax status of the entity.

Drafting of a contract (agreement, treaty, etc.) in Ukraine is rather complicated and sophisticated work, which can be done well only by professional Ukrainian lawyer with significant legal experience, moreover if you need a contract (agreement, treaty, etc.), which should be valid in full not only in Ukraine, but also abroad and accordingly, it should be drafted with consideration of regulations of Ukrainian collision regulations and international agreements and conventions of Ukraine.

Our Law Firm offers extensive support of making contracts in Ukraine. We provide our clients with detailed legal reports and consultations covering contractual issues of their interest in Ukraine, which include reasonable links to the applicable provisions of Ukrainian laws, extracts from such laws in the required volume, as well as analysis of the applicable Ukrainian judicial practice and of course some advices of our lawyers how to make things in the right and safe way.

We also provide due diligence of various contracts by and between residents and non-residents of Ukraine, which means that a competent lawyer of our Law Firm will study the submitted contract (agreement, treaty, whatever) together with attached documents and prepare the special report with his findings, conclusions, ideas and advices depending on the aim of such due diligence. The legal due diligence is also useful to be done before making contracts concerning the real estate (residential, offices, buildings, constructions, cars, trucks, etc.), because the key point here is to verify validity of the title documents and contents of the same. And of course we provide drafting of tailor-made contracts, agreements, treaties, etc. also in English or other language if required, complete support of the client during signing such contract, agreement, etc. including obtaining the documents, which are required for this in Ukraine, appointment with good Ukrainian notary (if notarization is required) and subsequent state registration of certain types of contracts, for which such registration is required, for and on behalf of our client.

The above information is provided herein in educational and informative purposes only. It is provided that you have to get appropriate legal advice as regarding the legal and other issues of your interest in Ukraine in order to have the exact, extensive and up-to-date legal and other related information.

Do not hesitate to contact us if you have any questions or issues of legal nature, our Law Firm is working for you and our experienced legal specialists are always ready to help providing the client with appropriate legal consultations, legal reports and summaries, reasonable legal advices and all the other required legal support, assistance, coverage and protection.

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Contacts

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