Peculiarities of legal regulation of the concession agreement under the legislation of Ukraine

The article is devoted to the peculiarities of the legal regulation of the concession agreement under the legislation of Ukraine. The authors study the essence and legal regulation of the concession agreement under the laws of Ukraine. The old versions of the laws and the changes that were made to the current versions of the laws regarding the concession agreement are analyzed. Proposals are provided on the directions of reforming and improving the legal regulation of the concession agreement under the legislation of Ukraine. Concession is a form of public-private partnership, which consists in granting the concessionaire the right to create and / or build (new construction, reconstruction, restoration, overhaul and technical re-equipment), and / or management (use, operation, maintenance) of the object of the concession, and / or the provision of socially significant services in the manner and under the conditions specified in the concession agreement, and provides for the transfer to the concessionaire of most of the operational risk, which includes demand risk and / or supply risk. According to the authors, the Law of Ukraine "On Concession" is aimed at improving the investment climate in Ukraine, through the development of economic and legal, contractual system of relations between the state and the investor. As for the content of the concession agreement, it consists of essential conditions, which are quite large and set out in detail in the agreement, under which the parties must reach an agreement and then perform them in full. At the same time, the legal regulation of concession activities needs to be improved. The authors proposed to better define the list of rights and obligations of the concessionaire and the concessionaire by separate articles in the Law of Ukraine "On Concession" in order to better understand the scope of the essential conditions of the concession agreement. Also, this list should include the right of the concessionaire to require improvement and modernization of the concession facility by the concessionaire, taking into account the progress. The authors propose to clearly define the grounds on which the parties are held liable for breach of the concession agreement and to establish guarantees for the concessionaire in case of unilateral termination of the agreement by the concessionaire in the Law of Ukraine "On Concession".