English to Ukrainian Bus/Financial Petroleum Eng/Sci

According to the Ukrainian laws and regulations, the Ukrainian state-owned organizations and enterprises do not have the right to prepay for the commodities. Under the standard agreement with them, a seller can get the money only the next month after the month of supply. Moreover, the state-owned organization/enterprise does not even issue a letter of credit or banking guarantee for security of such transaction. The reduced financing from the state budget also can be a ground for refusal of such buyer for the further supply of gas within the framework of the contract that has been already signed and partially executed.
Besides there is no possibility of payment, close-out or volume netting in gas transaction on Ukrainian market due to unavailability of cash-out procedure and clearing houses effective in Ukraine. The netting mechanisms could facilitate documenting of gas under gas sale contracts and enable establishment of gas stock exchange or OTC trading.