Commercial Enterprise Pledge Agreement

The Law on the Pledges of Personal Property allows the pawnbroker to give pledges without transferring the holding of the assets on any of the following personal assets: securities investment assets, including a contract that is not included in the list of items, Octt Pfand all elements in the event of non-validity of the guarantee agreement. With the new law, the Ministry of Customs and Trade is setting up the register to create the public availability of deposit commitments and to guarantee their validity to third parties. The KEP legislation would prioritize deposit applicants based on the date the deposit was set. However, the new law creates a fencing system that allows commitments for different degrees, each with priority over lower degrees, meaning that a lower level can only enforce rights once the higher degrees have been met. The creditor`s pledge in the type of company of credit institutions and credit unions is a legal entity and a real person who makes sales. However, only those who sell machines, vehicles, tools, vehicles on credit provided that the creditor can sell the collateral. Apart from these items of goods, goods, raw materials, materials, etc. Creditor foreclosures cannot sell. (TURKISH.2-3) If the owner of a mortgaged asset acts in a manner detrimental to the value of the asset, interested parties can take legal action to avoid such a situation. Finally, Act 6750 introduced additional titles to the holder of the deposit. In the case of one of the following events, the pawn giver may, in favour of the deposit, benefit from a judicial fine of no more than half (50%) to be punished. the amount of bonds guaranteed in the event of recourse by the holders of the guarantee: in cases where the maximum amount of collateral cannot be determined, the annulled law prohibits the amount of debt guaranteed in foreign currency; However, the law allows the parties to indicate whether the amount is in Turkish lira or foreign currency. The designation of an « enforcement officer » (who cannot be one of the parties to the collateral) is granted to a licensed person granted by the Ministry of Trade and Investment (MOCI) for the exercise of the enforced execution of depreciated real estate if the pfandgor is down and there are several commitments.

The deposit contract, which was not registered within this period, is anniated. (TURC.5, four hundred and thirty,8) Under Turkish law, the physical possession of these assets is transferred to the pawnbroker in order to perfect the pledge in order to establish a pledge on personal assets. In the case of a pawning of a commercial enterprise, in accordance with Article 4 of the Commercial Enterprise Instructions Act, a pawnbroker and the pawnbroker is executed with the number 1447 and July 21, 1971 (« Law 1447 »). The deposit contract must be certified notarized by a Turkish notary located in the same district as the trading company subject to the pledge and is registered in the trade register. Finally, the law requires parties to declare their rights and obligations under the Personal Pawn Agreement. Whether or not this is indicated as part of the furniture collateral contract, the owner is required to take measures to protect the value of the personal assets and is therefore responsible for disposals that would reduce the value of the mobile asset.

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