URE Club Press Conference

On December 21, in the informational agency "Interfax-Ukraine" at 10:00 a.m. will be held a press-conference by Ukrainian Real Estate Club (URE Club) which will cover the concept of using the mechanism of "escrow" in the sphere of contractual relations regarding purchase and sale of real estate in Ukraine. Members of the URE Club will be able to join the discussion with the expert community about the need for a two-stage implementation of legislative changes:

• The first stage (minimum) - provision of sufficient legislative base for notaries and notary offices for being able to carry out the functions of an escrow agent fully (that is, the ability to speak the person-mediator, to accept cash or financial credit documents on deposit from the debtor and transfer them to the lender in accordance with the provisions, which are set out in the contract between the debtor and the lender).

They will also discuss the mechanism of depositing of the money part of the transactions by notary, as well as ways of extension and recognition of the authority of the notary by the Ukrainian law. Members of the URE Club and other industry representatives will be able to make comments and suggestions on the implementation of such a mechanism in Ukraine, which will require changes in current and currency legislation. All the wishes of the market participants will be taken into account.

Contacts for registration

Anastasia Kysil

A_Kysil@ureclub.com

+38 (098) 431-51-71

Contacts for media accreditation

Dariia Ishchuk

d_ishchuk@ureclub.com

+38 (068) 984-19-81