{"id":2286,"date":"2021-01-22T11:22:54","date_gmt":"2021-01-22T08:22:54","guid":{"rendered":"https:\/\/www.efeshukuk.com\/?p=2286"},"modified":"2021-06-24T18:39:37","modified_gmt":"2021-06-24T15:39:37","slug":"temerrut-ne-demek","status":"publish","type":"post","link":"https:\/\/efeshukuk.com\/en\/temerrut-ne-demek\/","title":{"rendered":"What does default mean? What is debtor's and creditor's default?"},"content":{"rendered":"
\"Temerr\u00fct<\/figure><\/div>\n\n\n\n

What Does Default Mean? | Enforcement Lawyer | \u0130zmir Lawyer <\/a>| Izmir Law Firm<\/strong><\/p>\n\n\n\n

What does default mean?<\/h3>\n\n\n\n
\"Temerr\u00fct<\/a><\/figure>
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Arabic tamarrud<\/em><\/strong><\/p>\n\n\n\n

1. <\/strong>name, archaic <\/em>Stubbornness, defiance, resistance.<\/p>\n\n\n\n

2. <\/strong>noun, archaic, law, economics <\/em>No additional interest payments required.<\/p>\n\n\n\n

3. <\/strong>noun, archaic, law, economics <\/em>The act of refusing to pay a debt without any valid reason; resistance.<\/p>\n<\/div><\/div>\n\n\n\n

<\/p>\n\n\n\n

What does debtor default mean?<\/h3>\n\n\n\n

A debtor who owes a due debt is considered in default upon receiving a notice from the creditor.<\/em><\/strong>. If the date on which the debt is to be paid has been determined jointly or by one of the parties through duly giving notice based on a right reserved in the contract, the debtor shall be in default upon the expiration of that date; in the case of tort, on the date the act was committed; and in the case of unjust enrichment, on the date the enrichment occurred. However, if the unjustly enriched party is acting in good faith, notification is required.<\/p>\n\n\n\n

Default Interest<\/h3>\n\n\n\n

If the applicable annual default interest rate is not agreed upon in the contract, it shall be determined according to the legal provisions in force on the date the interest obligation arises. The annual interest rate agreed upon in the contract cannot exceed one hundred percent of the annual interest rate determined under the Turkish Commercial Code. If a contractual interest rate is agreed upon but no default interest rate is specified in the contract, and the annual contractual interest rate is higher than the interest rate specified in the first paragraph, the contractual interest rate shall apply to the default interest rate.<\/p>\n\n\n\n

What does creditor default mean?<\/h3>\n\n\n\n

Yapma veya verme edimi gere\u011fi gibi kendisine \u00f6nerilen alacakl\u0131, hakl\u0131 bir sebep olmaks\u0131z\u0131n onu kabulden veya bor\u00e7lunun borcunu ifa edebilmesi i\u00e7in kendisi taraf\u0131ndan yap\u0131lmas\u0131 gereken haz\u0131rl\u0131k fiillerini yapmaktan ka\u00e7\u0131n\u0131rsa, temerr\u00fcde d\u00fc\u015fm\u00fc\u015f olur. Alacakl\u0131, m\u00fcteselsil bor\u00e7lulardan birine kar\u015f\u0131 temerr\u00fcde d\u00fc\u015ferse, di\u011ferlerine kar\u015f\u0131 da temerr\u00fcde d\u00fc\u015fm\u00fc\u015f olur.<\/p>\n\n\n\n

According to Article 1530, Paragraph 7 of the Turkish Commercial Code, the default interest rate to be applied in case of late payments in the supply of goods and services and the minimum amount of compensation that can be claimed for collection expenses.<\/strong><\/strong><\/h3>\n\n\n\n
Validity Date<\/strong><\/td>Default Interest Rate to be Applied in Late Payments for Goods and Services (%)<\/strong><\/td>Minimum Expense Amount That Can Be Claimed for Debt Collection Costs (TL)<\/strong><\/td><\/tr>
01.01.2013<\/td>15,00<\/td>95,00<\/td><\/tr>
01.01.2014<\/td>12,75<\/td>120,00<\/td><\/tr>
01.01.2015<\/td>11,50<\/td>120,00<\/td><\/tr>
01.01.2016<\/td>11,50<\/td>130,00<\/td><\/tr>
01.01.2017<\/td>10,75<\/td>150,00<\/td><\/tr>
01.01.2018<\/td>10,75<\/td>185,00<\/td><\/tr>
01.01.2019<\/td>21,25<\/td>245,00<\/td><\/tr>
01.01.2020<\/td>15,00<\/td>260,00<\/td><\/tr>
01.01.2021<\/td>18,25<\/td>385,00<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

<\/p>\n\n\n\n

<\/p>\n\n\n\n

Article 117 of the Turkish Code of Obligations: <\/p>\n\n\n\n

\u201c"The debtor of a due debt is deemed to be in default upon the creditor's notice. If the due date for performance of the debt has been jointly determined or if one of the parties has specified it by giving due notice based on a right reserved in the contract, the debtor is deemed to be in default upon the expiration of that date; in tort cases, on the date the act was committed; and in unjust enrichment cases, on the date the enrichment occurred. However, in cases where the unjustly enriched party is acting in good faith, notice is required for default.". <\/p>\n\n\n\n

Conditions for Debtor's Default:<\/p>\n\n\n\n

a) The possibility of performance<\/p>\n\n\n\n

b) The debt becoming due<\/p>\n\n\n\n

c) Creditor's notice<\/p>\n\n\n\n

d) The creditor's readiness to accept performance<\/p>\n\n\n\n

e) The debtor does not have the right to refuse performance. <\/p>\n\n\n\n

Temerr\u00fcde d\u00fc\u015fmek ise, zaman\u0131nda borcun \u00f6denmemesidir.  Y\u00fck\u00fcml\u00fcl\u00fcklerin ge\u00e7 de olsa yerine getirilmesi durumunda temerr\u00fct hali sona erer; fakat gecikme nedeniyle temerr\u00fcde d\u00fc\u015f\u00fclen tarih ile y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fcn yerine getirildi\u011fi tarih aras\u0131ndaki s\u00fcre \u201cge\u00e7mi\u015f g\u00fcnler faizi\u201d olarak g\u00f6r\u00fclerek temerr\u00fct faizi i\u015fletilir. \u00d6rne\u011fin bir bor\u00e7 sebebi ile icra takibi yap\u0131lacaksa i\u015fletilecek iki t\u00fcr faiz vard\u0131r. Bunlardan ilki, takip a\u00e7\u0131ld\u0131\u011f\u0131 g\u00fcnden itibaren i\u015fletilmeye ba\u015flan\u0131r ve borcun \u00f6denece\u011fi g\u00fcne kadar i\u015fler. \u0130kincisi ise temerr\u00fcde d\u00fc\u015fme tarihi dedi\u011fimiz, borcun as\u0131l \u00f6denmesi gereken tarihten takip a\u00e7\u0131l\u0131\u015f tarihine kadar i\u015fleyecek olan faizdir.<\/p>\n\n\n\n

Default interest and default procedures, which are more commonly encountered in commercial relations, are regulated in Article 1530 of the Turkish Commercial Code. Accordingly: <\/p>\n\n\n\n

MADDE 1530\u2013 (1) Aksine bir h\u00fck\u00fcm bulunmad\u0131\u011f\u0131 takdirde, ticari h\u00fck\u00fcmlerle yasaklanm\u0131\u015f  i\u015flemler ve \u015fartlar bat\u0131ld\u0131r. Ancak, s\u00f6zle\u015fme uyar\u0131nca yerine getirilmesi gereken edimler i\u00e7in kanunun veya yetkili makamlar\u0131n koymu\u015f oldu\u011fu en y\u00fcksek s\u0131n\u0131r\u0131 a\u015fan s\u00f6zle\u015fmeler en y\u00fcksek s\u0131n\u0131r \u00fczerinden yap\u0131lm\u0131\u015f say\u0131l\u0131r; s\u0131n\u0131r\u0131 a\u015fan edimler hata ile yerine getirilmi\u015f olmasa bile, geri al\u0131n\u0131r. Bu s\u0131n\u0131rlarda, T\u00fcrk  Bor\u00e7lar Kanununun 27 nci maddesinin ikinci f\u0131kras\u0131n\u0131n ikinci c\u00fcmlesi uygulanmaz.<\/p>\n\n\n\n

(2) In transactions for the supply of goods and services between commercial enterprises, if the debtor fails to pay his debt on the date stipulated in the contract or within the specified payment period, except in cases where the creditor has fulfilled his supply obligation arising from the law or the contract, he shall be deemed to be in default without the need for a warning.<\/p>\n\n\n\n

(3) The creditor of the defaulting debtor is entitled to interest from the date stipulated in the contract or from the day following the end of the payment period, even if it is not stipulated.<\/p>\n\n\n\n

(4) If the payment date or period is not specified in the contract, or if the specified period is contrary to the fifth paragraph, the debtor shall be deemed to be in default without the need for a warning at the end of the following periods, and the creditor shall be entitled to interest:<\/p>\n\n\n\n

a) At the end of a period of thirty days following the debtor's receipt of the invoice or equivalent payment request.<\/p>\n\n\n\n

(b) If the date of receipt of the invoice or equivalent payment request is uncertain, at the end of the thirty-day period following receipt of the goods or services.<\/p>\n\n\n\n

c) If the debtor received the invoice or equivalent payment request prior to the delivery of the goods or services, at the end of the thirty-day period following the date of delivery of the goods or services.<\/p>\n\n\n\n

d) Kanunda veya s\u00f6zle\u015fmede, mal veya hizmetin kabul veya g\u00f6zden ge\u00e7irme usul\u00fcn\u00fcn \u00f6ng\u00f6r\u00fcld\u00fc\u011f\u00fc h\u00e2llerde, bor\u00e7lu, faturay\u0131 veya e\u015f de\u011fer \u00f6deme talebini, kabul veya g\u00f6zden ge\u00e7irmenin ger\u00e7ekle\u015fti\u011fi tarihte veya bu tarihten daha \u00f6nce alm\u0131\u015fsa, bu tarihten sonraki otuz g\u00fcnl\u00fck s\u00fcrenin sonunda; \u015fu kadar ki, kabul veya g\u00f6zden ge\u00e7irme i\u00e7in s\u00f6zle\u015fmede \u00f6ng\u00f6r\u00fclen s\u00fcre,  mal  veya  hizmetin  al\u0131nmas\u0131ndan  itibaren otuz  g\u00fcn\u00fc  a\u015f\u0131yor ve bu  durum alacakl\u0131n\u0131n aleyhine a\u011f\u0131r bir haks\u0131zl\u0131k olu\u015fturuyorsa, kabul veya g\u00f6zden ge\u00e7irme s\u00fcresi mal veya hizmetin al\u0131nmas\u0131ndan itibaren otuz g\u00fcn olarak kabul edilir.<\/p>\n\n\n\n

(5) The payment period stipulated in the contract may not exceed sixty days from the date of the invoice or equivalent payment request or the date of receipt of the goods or services or the completion of the review and acceptance procedure for the goods or services. However, the parties may agree on a longer period, provided that it does not create a serious injustice against the creditor. However, if the creditor is a small or medium-sized enterprise (SME) or an agricultural or livestock producer, or the debtor is a large-scale enterprise, the payment period may not exceed sixty days.<\/p>\n\n\n\n

Default interest rates can vary depending on the type of debt and are specified in the relevant contracts. Therefore, when dealing with default interest, attention should be paid to the contract terms, if any, and the current rates at the time of the transaction. <\/p>\n\n\n\n

You may also be interested in the following studies:;<\/p>\n\n\n\n

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