Basics For Debt Collection In Turkey For Foreign Entities and Real Persons
Parties to a commercial agreement usually reduce into writing their mutual understanding and try to set forth penalties and other clauses in deterrent nature, as much as they can, to protect their best interest in dealing with the counterparty.
Sometimes, parties to a contract fail to live up with the expectations of the other party in meeting their end of the bargain and materially breach their obligations which inevitably lead to commercial court proceedings initiated by the aggrieved party.
In the signing ceremony held in Singapore on 6-7 August, Turkey was one of the countries signing the convention negotiated by 46 different countries including USA, China, India and South Korea. Ministry of Justice Deputy Minister Zekeriya Birkan signed the convention on behalf of our country.Read More