Turkey:
Turkey Caps Instalment Payment Schemes For Retail Sales
21 September 2018
Moroglu Arseven
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Turkey has capped the instalment payment period for retail goods
and services at maximum 12 months, with lower caps for certain
types of goods. The cap applies from 1 September 2018 and applies
irrespective of whether the sale involves a negotiable instrument.
The cap applies even if a customer pays an additional fee to pay
via instalments, or to defer payment until later.
The cap is set at three months for audio and video systems, as
well as six months for computers, tablet and mobile phones.
Instalment payment schemes are now prohibited for retail
jewellery sales.
The Amendment Regulation on the Regulation on Principles and
Rules for Retail Trade was published in Official Gazette number
30510 on 15 August 2018. Please see this link for the full text of the Amendment
Regulation (only available in Turkish).
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.
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