Distance Selling
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Financial Issues

Payment for goods

Distance selling companies operating at the Ukrainian market under the consignment scheme use cash on delivery as one of their main methods of payment. It implies that payment is made by the client upon receipt of a parcel at the postal office.

In its turn, the Ukrainian postal operator forwards all payments to the foreign operator, its contracting party, with whom it had signed a consignment agreement; and the latter transfers it to the customer company. About 80% of all deliveries in Ukraine are paid for in this way.

The cash on delivery service is offered by the national postal operator Ukrposhta (15 thsd post offices) and Rosan Ukrainian-Canadian Joint Venture.

Other methods of payment:

  • payment by bank transfer. Payment documents are put into the parcel with the goods.
  • encashment by the courier upon delivery of goods to the door, payment in cash.
  • online reservation of the amount with the help of a bank card.
  • e-money.

Currency information

The national currency of Ukraine is hryvnia (UAH). The basis of the country’s currency reserve is US dollar (USD). EURO is also in circulation, but it’s less in demand.

The exchange rate of hryvnia against US dollar is regulated by commercial demand and tendencies at exchange markets of the world. The National Bank of Ukraine (NBU) also influences the position of hryvnia within the country with the help of exchange market interventions. During 2010 the exchange rate of USD stayed within the limits of UAH 7.96–8.00.

Contracts in Ukraine are concluded in the currency of the importing country (USD, EURO) and paid at the NBU rate as of the date of payment. Purchase/sale of currency is made at the commercial rate. Nevertheless, short-term currency fluctuations do not influence the final cost of goods. Main exchange rate risks of distance selling companies working in Ukraine under consignation terms refer to payment for services, but are rather insignificant. The calculations should include a strict peg of Ukrainian hryvnia to US dollar.

Nota bene!

  • the rate of hryvnia against dollar and the rate of dollar against the national currency of the country.
  • exchange rate difference reserve and difference between the NBU rate and the commercial rate as of the date of conclusion of an agreement. 
  • hryvnia devaluation forecast. 


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