Ukrainians freed from penalties on loans for the duration of the quarantine

The Verkhovna Rada of Ukraine adopted the bill No. 3297 regarding avoid accrual of penalties on loans in the period of quarantine established to prevent the spread in Ukraine of coronavirus.

Украинцев освободили от штрафов по кредитам на время карантина

This reports the analytical portal “Hvilya” with reference to the UNN.

It is noted that the decision was supported by 344 deputies of Ukraine.

Thus, the bill aims to protect business entities from accruing during the period of quarantine and a 30-day period after completion of the quarantine fines and penalties on credits (loans).

The bill provides to amend the Economic code of Ukraine, according to which in case of default by the borrower in a period of quarantine and/or thirty-day period after the date of the completion of payments under the contract, the borrower is exempt from payment of a penalty, fine, interest for such delay.