President of Ukraine Petro Poroshenko signed the law on the introduction of amendments to some regulatory acts of Ukraine regarding the use of seals by legal entities and individual entrepreneurs.

It should be reminded that the Verkhovna Rada previously cancelled the presence of wet seals on the official documents. It is expected that the realization of draft law regulations will improve Ukraine’s position by several points in DoingBusiness rating, Hyser reports.

This means that now it will be simpler for Ukrainian business to trade with foreign partners. The officials will no longer be able to file claims against foreign economic contracts due to the presence of wet seals.

Previously, the attempt to refuse from seals in Ukraine was also made. In 2014, the deputies adopted the law, stipulating some easing of requirements to business. However, the obligatory presence of the seal on documents remained in the regulations of many special laws. The amended version of the document cancelled these discrepancies.

The main purpose of the innovation is to simplify the work of business. Now, state and local authorities do not have the right to demand the presence of the seal on official documents. The administrative responsibility and fines were introduced for the violation of this rule.

“The fine, amounting to 50-100 tax-exempt minimums, is set for the refusal to receive the document without the seal, and it is 850-1700 hryvnias”, - Managing Partner of ProveGroup Law Firm Yulia Repina noted.

The innovation will surely be useful for the companies, having international contracts. Ukrainian officials, checking foreign economic documents, often scotched deals due to the absence of seals, from which the West refused long ago.