LAW OF UKRAINE

of December 20, 2016 No. 1792-VIII

About financial mechanisms of stimulation of export activities

This Law determines bases of the state support of export activities by insurance, reinsurance, providing, partial compensation of interest rate for export loans for the purpose of creation of conditions for implementation of large-scale expansion of commodity export (works, services) of the Ukrainian origin on the foreign markets, ensuring protection of the Ukrainian exporters against risks of non-payments and financial losses and increase in competitiveness of the Ukrainian producers in the world markets.

Article 1. Determination of terms

1. In this Law terms are used in such value:

1) the foreign buyer - the subject of managing - the nonresident performing purchase of goods (works, services) of the Ukrainian origin according to the external economic agreement (contract) signed with the Ukrainian exporter;

2) works, services of the Ukrainian origin - the works, services which are carried out and rendered by subjects of managing - residents of Ukraine;

3) goods of the Ukrainian origin - the goods which are completely made or subjected to sufficient conversion in Ukraine according to the criteria established by the Customs code of Ukraine;

4) the Ukrainian exporter - the subject of managing - the resident of Ukraine performing commodity export (works, services) of the Ukrainian origin.

2. The terms "responsible actuary", "reinsurance", "overcautious person", "insurer", "insurance", "insurance risk", "insured event", "insurance sum", "insurance payment", "insurance rate", "insurance premium" are used in this law in the values given in the Law of Ukraine "About insurance".

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