The Legal Nature of a repurchase agreement as a method of Self-help
DOI:
https://doi.org/10.35774/app2025.01.101Keywords:
self-help in contractual relations, protection of civil rights, contractual relations, types of security for fulfillment of obligations, repo agreement, repurchase agreement, civil law contractAbstract
The article analyzes the possibility of a repurchase agreement serving as an effective means of self-help in contractual relations. It has been proven that a repo agreement (repurchase agreement), acting as a type of security for the fulfillment of obligations, is implemented by a person independently, without recourse to jurisdictional authorities in case of non-performance or improper performance of contract terms. The legal nature of the repo agreement and its features as an instrument for securing the fulfillment of obligations have been studied. It has been established that although securities traditionally serve as the subject of a repo agreement, there is a justified possibility of expanding its scope to other objects of civil rights, including movable and immovable property. The regulatory framework of repo operations in Ukrainian legislation has been analyzed, particularly the provisions of the Tax Code of Ukraine and regulations of the National Bank of Ukraine. Special attention has been paid to studying the security nature of the repurchase agreement and its relationship with other types of security for the fulfillment of obligations. The mechanism for implementing creditor rights under a repo agreement through self-help has been revealed, which provides significant advantages compared to traditional methods of securing obligations. The compliance of creditor actions in exercising their right to self-help with the requirements of Ukrainian civil legislation has been substantiated, particularly with the provisions of Article 19 of the Civil Code of Ukraine regarding methods of self-help. Based on the conducted research, a conclusion has been made about the effectiveness of the repurchase agreement as a method of self-help, allowing creditors to promptly satisfy their claims without the need to appeal to judicial or other competent authorities. The prospects for further development and improvement of legal regulation of repo agreements as an instrument for protecting the rights of civil legal relations participants have been determined.
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