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Civil Code of Ukraine, approved by the Law of Ukraine dated January 16, 2003 No 435-IV, Article 1087. Methods of payments

  1. The payments with the participation of individuals which are not connected with their business activities may be performed in cash or non-cash forms using payment documents in hard or soft copy.
  2. The settlement of accounts between legal entities as well as payments with the participation of individuals which are connected with their business activities shall be performed in a non-cash form. The settlement of accounts between such persons may be also performed in cash unless otherwise is established by law.
  3. In accordance with the provisions of this Article the limit of payments in cash for individuals and legal entities as well as for individual entrepreneurs shall be established by the National Bank of Ukraine.