To address the challenges arising from the obligation to make payments in Turkish Lira in sale of goods contracts, which are frequently encountered in commercial life, an amendment was made in 2022 to the Communiqué on the Decree numbered 32 Regarding the Protection of the Value of the Turkish Currency (the "Communiqué"). This amendment allowed the contract value to be paid in foreign currency for certain movable sale contracts, except for vehicle contracts, concluded between persons residing in Türkiye. In movable sale contracts that do not fall within the specified exceptions, payment obligations had to be fulfilled in Turkish Lira, even if the contract value was agreed upon in foreign currency or indexed to foreign currency.
With the Communiqué Amending the Communiqué (No: 2025-32/72) published in the Official Gazette dated March 6, 2025, and effective from the same date, it has now become possible for persons residing in Türkiye to agree on the payment of the contract value in foreign currency or indexed to foreign currency in all movable sale contracts, except for vehicle sale contracts.
First published by Gün + Partners in Mar 07, 2025.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
