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 Checking creditworthiness/business
contract
A check of creditworthiness through information agencies or
credit insurers before sealing a business contract with a new Turkish business
partner and when trading on open account is recommended.
It is also advisable when selling to Turkish customers to ensure
in advance that the detailed payment terms and conditions are stated
unequivocally in the contract.
Retention of title
In Turkey, a retention of title has to be notified in a special
register subject to a fee.
It provides no real protection against acquisition in good faith
by third parties. It also does not entitle to separate satisfaction in case of
insolvency.
The retention of title is not a common safeguarding measure in
Turkey.
Guarantee
Guarantees have to be stipulated in written form, where the
maximum amount of liability has to be defined.
Other safeguarding measures
Pledges
Mortgages
Assignments of debts
Payment transactions
Letters of Credit, bills of exchange, cash against documents,
cash against goods and banker’s draft are widely used.
Collection of receivables in Turkey
Safeguarding your credit sales in Turkey
Protecting your credit sales in other countries
Reproduced by kind permission of Atradius
Atradius copyright. The statements and recommendations made herein are for
informational purposes only and should not be utilised as a substitute for
professional advice in specific situations. Therefore we ask for your
comprehension that we can't take over any liability for this report. If legal
advice or other expert assistance is required the services of a professional
should be sought.
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