Our monthly law bulletin contains practical information for
companies, amendments in our legislation, current case law and
sectoral regulations.
We wish that the Monthly Bulletins January 2019 prepared by
Gürpınar Law Firm will be beneficial to you.
I. Announcements
Default Interest Rate on Late Payments in the Goods and
Services Procurement
The Communiqué on the Determination of the Default
Interest Rate on Late Payments to the Creditor in the in the Goods
and Services Procurement has been issued by the Central Bank in
accordance with the seventh paragraph of Article 1530 of the
Turkish Commercial Code. From 01.01.2019, if the default interest
rate on late payment to the creditor in the provision of goods and
services is not foreseen in the contract or the related provisions
are invalid, the interest rate will be applied as o 21.25 percent
annually. The minimum amount of expense of collecting debts that
can be demanded is TL 245,00.
