At meeting held at the Ukrainian Ministry of Defense on August 18, 2015, a proposal was made to develop a presidential award to be presented to the units that distinguished themselves in the anti-terrorist operation in the Donbas.

Because of this the commission decided to propose to the Ministry of Defense "to work out the issue of the legal status of installing the Ribbon to the Battle Flag 'For Courage and Bravery' as a non-state award.

"[1][2] By the time of Russia's invasion of Ukraine on February 24, 2022 the legal barriers to Ukrainian state awards being presented to collective entities had been removed.

On May 5, 2022, the President of Ukraine, Volodymyr Zelenskyy, issued a decree establishing the honorary award "For Courage and Bravery."

On one end of the ribbon, on both sides, the inscription "ЗА МУЖНІСТЬ ТА ВІДВАГУ" ('FOR COURAGE AND BRAVERY') and the image of the Emblem of the Princely State of Volodymyr the Great in gold embroidery.