Payment Obligation in Movable Sales Contracts

With The Communiqué Amending the Communiqué No. 32 on the Protection of the Value of Turkish Currency, published in the Official Gazette No. 31814 and entered into force on 19.04.2022 (“New Communiqué”), the payment to be made regarding the movable sales contracts has been made mandatory. 

The main rule within the scope of the Communiqué no. 32 is that the payment obligations arising from the contracts concluded between the residents of Turkey cannot be determined in foreign currency or indexed to foreign currency, but movable sales contracts are excluded from the main rule. In other words, the payment obligations regarding the movable sales contracts to be concluded between the residents of our country can be determined in foreign currency or indexed to foreign currency. However, the exception to this freedom is vehicle sales contracts. At this point, we would like to point out that with the New Communiqué, although the aforementioned payment obligations can be determined in foreign currency or indexed to foreign currency, it is obligatory to fulfil and accept the payment obligation in Turkish currency.