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Use of Foreign Language in Contracts 22 June 2015
Within the existing business practices, it is common that the contracts and other documents executed in relation to a work or project that have Turkish parties and/or that is carried out in Turkey are issued in foreign language or it is deemed that English version prevails in the documents that are issued both in Turkish and English languages. However, such a choice may cause severe problems for the parties to such contracts and documents due to the “Law No. 805 on Obligation to Use Turkish in the Economic Enterprises” (“Law”) adopted on 10.04.1926 and the recent Supreme Court decisions regarding the same.
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Financial Leasing Agreements Concluded by Sale and Lease Back Method 17 June 2015
Financial leasing agreements gained legal force under Turkish Law with the Financial Leasing Law No. 3226 dated 28 June 1985 (“Annulled Law”) and Statutory Decree No. 90 dated 30 September 1983 on Loan Transaction. Said legislation had remained in force for almost 30 years; however, considering the practical drawbacks and the necessities in business life, it has been repealed with the Financial Leasing, Factoring and Financing Companies Law No. 6361 dated 13 December 2012 (Law No. 6361).
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Family Corporations and The Legal Problems Associated with Them 4 June 2015
Most of the family corporations, which play an important role in the trade life, cannot institutionalize because of the multiple shareholding structures, showing emotional approach instead of the corporate approach and the management problems, and thus they fade from the trade life without being transferred to the third generation. Mostly, the multi-headed structure of the family corporations, the blockages occurring in the process of decision-making and the internal conflicts among the family members restrain these companies from keeping up with the modern trade life and prevents the company, which struggles with these problems, from developing and growing as a result of which directs the same to the inevitable end.
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Types and Elements of Labor Turnover and Differences Among Them 4 June 2015
It is of the essence for any employer that the labor turnover, which is one of the most important issues in the business life, must be made in accordance with the respective legal regulations in order to remove any risk that may arise as a result of such transfers. In that respect, the legal means that provide labor turnover in the Turkish Law, the elements of transfer, their differences and the legal regulations applicable to such transfer must be understood by the employers very well and all legislations regarding this issue while determining the possible risks must be taken into account.
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Partnership of Success: Public Private Partnerships 20 October 2014
In recent years, one of the most popular topics in the business world is “Public Private Partnership” (“PPP”) which is a method to establish a partnership between a public entity and a private company for the realization of some sizeable investments and the provision of the related services whereby the construction and performance risks are allocated to the private entity.
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Legal Solutions for the Obstruction of the Public Investments on Mining Activities 22 August 2014
Turkey has been known with its potential of mine variety which also attracts the attention of the foreign investors. However, despite several amendments made to the Mining Law numbered 3213 (the “Law”) which came into force in 1985 over years, the mining sector has not developed as expected. Therefore, it was a necessity to remove the loopholes in the Law and find solutions for the problems in the mining sector. In that respect, the Law numbered 5995 which makes significant amendments to the Law was published in the Official Gazette and came into force on June 24, 2010.
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Results of Unauthorized Mining Activities 7 August 2014
Today, items such as clay, sand, gravel, limestone, rock, and the aggregate needed in constructions and similar activities are procured directly from agricultural lands by construction companies as a result of an agreement with the owners of such lands instead of construction companies buying the said materials elsewhere. However, since these materials are categorized as mineral under Mining Law, certain licenses and permits should be obtained for such activities. Sanctions to be imposed against a company with regard to its mining activities on a third party’s land without obtaining due mining licenses should be evaluated under Mining Legislation, Law on Soil Protection and Land Use, and Civil Law:
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Defective Performance of the Contract and the Warranty of the Supplier in Commercial Sales Contract 10 April 2012
One of the most significant problems confronted by the parties of a commercial transaction is the defective performance of the contract. Although in most of the contracts, the consequences of the defective performance are regulated in detail, some contracts do not include any provision regarding the same or such provision appears to be not sufficient to solve the dispute arising out of defective performance of the contract. At this point, the parties to such contract shall refer to the Code of Obligations in order to be able to handle the situation and determine their rights and obligations regarding such defective performance.
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