On the question of legal regulation of calculations and the consequences of failure to fulfill the obligations of participants in civil trade

Abstract

In the modern conditions of the development of economic relations, globalization processes, in combination with the reform ofthe regulation of the private sector of the economy, the problems of the settlement regime, as well as the consequences of non-fulfillmentof the obligations of the participants in civil turnover have required qualitatively new approaches to their solution. At the sametime, the issue of proper and complex regulation of settlements with the participation of individuals and legal entities – residents and non-residents – is important. Also the mechanism of legal regulation should be aimed first of all at facilitating the proper fulfillment oftheir obligations by participants in civil turnover and the certainty of legal consequences in case of violation of such obligations.The scientific article has been devoted to the implementation of a detailed theoretical analysis of the problematic issues of calculationsand the consequences of non-fulfillment of obligations by participants in civil turnover. There are two forms of settlement:cash and non-cash. The basis of this division is the form of existence of monetary funds in Ukraine: in the form of banknotes – cashform; in the form of entries on accounts – non-cash form. It is worth noting that electronic and digital money can exist only in non-cashform. The method of calculations depends on the status of the subject of settlement relations and the basis for the payment. In particular,in accordance with Art. 1087 of the Civil Code of Ukraine, settlements with the participation of natural persons, which are not relatedto their entrepreneurial activity, can be carried out in cash or non-cash form with the help of settlement documents in electronic or paperform. Thus, natural persons who are not engaged in entrepreneurial activity choose the form of calculation themselves. Limiting theamount of cash settlements between individuals applies to sales contracts that are subject to notarization.At the same time, the cash settlement mechanisms proposed by the National Bank of Ukraine need to be refined.It has been analyzed in this article the literary sources on the issue, current legal acts, court practice, and, based on this, it hasbeen developed the author’s vision of the prospects for its further solution.