The Cabinet of Ministers decided to automate the exchange of information between the State Agrarian Register (DAR) and the Register of Agrarian Notes. About this reported on the official website of the Ministry of Agrarian Policy of Ukraine.
The innovation will allow DAR administrators to interact electronically not only with state registers, but also with the Register of Agrarian Notes. All data on agrarian notes — their issuance, content, change of details, termination, encumbrance, and beginning of enforcement — will now be automatically transferred to DAR on the basis of special statements.
This resolution is aimed at implementing a new settlement mechanism in the agricultural sector — agricultural notes, which will come into effect on January 1, 2025. The legislative basis for this mechanism was laid at the beginning of 2024.
An agrarian note is a non-issuable security that confirms the debtor’s unconditional obligation, secured by collateral, to supply agricultural products or make monetary payments to the creditor in accordance with the terms specified in the document. This tool is aimed at attracting financial resources to the agriculture of Ukraine and settlements under existing contracts.
The new law does not change the current mechanism of paper agrarian receipts regulated by the Law “On Agrarian Receipts”. Traditional receipts remain in circulation in parallel with agrarian notes. Agrarian notes will be entered in the register, which will display information about all their changes, editions, encumbrances and enforcement of obligations.
