Violation by residents of the deadlines for settlements under operations on export and import of goods entails the accrual of a penalty for each day of delay in the amount of 0.3% of the amount of unreceived funds under the contract (the value of the undelivered goods) in the national currency (in the case of settlements under a foreign economic agreement (contract) in the national currency) or in foreign currency converted into the national currency at the exchange rate of the National Bank of Ukraine established on the day the debt arose. The total amount of the accrued penalty cannot exceed the amount of unreceived funds under the contract (the value of the undelivered goods).
If the execution of the contract provided for in Part 2 or 3 of Article 13 of Law No. 2473 is suspended due to the occurrence of force majeure circumstances, the expiration of the settlement period established in accordance with Part One of Article 13 of Law No. 2473, and the accrual of penalties in accordance with Part Five of Article 13 of Law No. 2473 is suspended for the entire period of force majeure and is resumed from the day following the day of the end of such circumstances.
Confirmation of the occurrence and end of force majeure is a relevant certificate from the authorized organization (body) of the country of location of the party to the foreign economic agreement (contract) or a third country in accordance with the terms of this agreement (contract) (Part Six of Article 13 of Law No. 2473). In the event of acceptance for consideration by a court or international commercial arbitration of a resident’s claim for the collection of a debt from a non-resident that arose as a result of the non-resident’s failure to comply with the term provided for by a foreign economic agreement (contract), or acceptance for proceedings by an authorized body of the relevant country of a document on the collection of such debt from a non-resident debtor in favor of a resident in an extrajudicial (pre-trial) compulsory manner, the term established in accordance with Article 13 of Law No. 2473 shall be suspended from the date of acceptance for consideration of such a claim (acceptance for proceedings of the relevant document) and a penalty for violation of the term shall not be accrued during this period.
In the event of a court or international commercial arbitration decision to reject the claim in whole or in part in terms of property claims or to refuse to initiate proceedings in the case or to leave the claim without consideration, as well as in the event of recognition of a document on debt collection from a non-resident debtor as unenforceable, invalid, illegal, etc. and (or) closure (termination) of proceedings without crediting funds to residents’ accounts in Ukrainian banks under such a document, the period established in accordance with Article 13 of Law No. 2473 shall be renewed and a penalty for its violation shall be accrued for each day of delay, including the period for which this period was suspended.
In the event that a court or international commercial arbitration decides to grant the claim, only the penalty accrued until the date of acceptance of the claim for consideration by the court or international commercial arbitration shall be payable (Part Seven of Article 13 of Law No. 2473).