Payment Terms Legislation In Turkey
Turkey
Please see below for a summary of payment terms in Turkey and the various industries across which payment term legislation appears. You can also download a summary of all Turkish payment terms by clicking the button below.
| Industries | Laws | Codes | Notes |
|---|---|---|---|
| Construction | |||
| Manufacturing | |||
| Retail/Agriculture |
LAWS
Article 1530 of Turkish Commercial Code 6103, Results of Late Payments in Processes Prohibited by Commercial Provisions and Supply of Goods and Services, sets a 30 day default term where no term is specified in contract. The maximum commercial contract term is 60 days unless otherwise agreed and not a severe injustice. For payments to SMEs, agriculture or animal producers the maximum term is strictly 60 days.
- Construction
- Manufacturing
- Retail/Agriculture
Article 7 of the Law on the Regulation of Retail trade sets a maximum payment term of 30 days for good which can spoil within 30 days.
- Retail/Agriculture
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