23 Oct 2018
urkey has amended rules for the Central Bank to collect information and documents from firms, allowing it to monitor transactions which affect an entity’s foreign exchange position. Changes apply to the scope of qualifying entity’s, deadlines for submitting the […]
16 Oct 2018
Turkey has increased maximum interest rates for credit card transactions, allowing banks to charge higher interest rates. From 1 October 2018, the maximum contractual interest rate for credit card transactions in Turkish Lira increases from 2.02% to 2.25%, as […]
9 Oct 2018
Turkey has announced further details, exemptions and clarifications for recently introduced rules restricting foreign currency or foreign currency indexed payment obligations in contracts between parties residing in Turkey. These entered into force on 13 September 2018 by amending Decree […]
20 Sep 2018
Turkey has introduced new contract rules, intended to protect the national currency’s value. From 13 September 2018, certain agreements between parties which are both located in Turkey can only be made in Turkish Lira. Contracts entered before 13 September […]
9 Feb 2018
Turkey’s Central Bank has determined the default interest rate as 10.75% for late payments made to creditors in the context of commercial transactions for goods and services, the same rate as used in 2017. The minimum compensation amount which […]
10 Aug 2017
The Turkish Competition Authority recently announced a public consultation period for proposed amendments and additions to its guidelines on vertical agreements. The current regulatory framework fails to address the topic in any meaningful detail, simply indicating that online sales […]
15 May 2017
First published by Commercial Dispute Resolution Magazine (15 May 2017). Turkey has introduced a new regime enabling non-possessory pledges – pledges without the actual delivery of the possession of the pledged goods. The new regime which constitutes major legislative […]
19 Apr 2017
Turkey’s Central Bank has updated discount interest rates for commercial papers with expiry periods of three months or more. The revised rates are 8.75% for rediscount transactions and 9.75% for advance transactions. The interest rates were announced in Communiqué […]
27 Feb 2017
Turkey’s Central Bank has updated the default interest ratio to 10.75% for late payments made to creditors in the context of commercial transactions for goods and services. The minimum compensation amount which creditors can claim for recovery cost has […]
24 Feb 2017
Turkey’s block exemption for distribution agreements in the motor vehicle sector has been amended. Changes aim to address problems encountered during implementation of the scheme, as well as experiences gained from similar exemptions in other sectors. Changes differentiate the […]
