Commercial Enterprise Pledge Agreement

If the pfandor does not pay its debts when it is due, the mortgaged assets are transferred and the pawnbroker receives his receivables from the proceeds of the sale. Under Article 17 of Law 1447, the provisions of the Turkish Enforcement and Bankruptcy Act apply to enforcement procedures. Under Section 3 of Act 1447, a collateral registered through a commercial enterprise imposes the following burden: under Act 6750, the parties should have a contract to liquidate mobile pawning without electronic or written delivery. If the contract is prepared on an electronic platform, the electronic signature must be signed securely if it is established in writing, the signatures are approved by a notary or the parties must sign the contract before the civil registry authority. The Moveable Pledge (TARES) registry system is created by the Registry Regulations, which allow all kinds of transactions recorded online with the electronic signature. 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. In addition, the pawnbroker has the right to monitor the mortgaged furniture. These provisions must also be included as part of the personal collateral contract. Under the new law, the performance of pre-registered deposit contracts and transactions is exempt from taxes, fees and fees. A complete list of the items covered in the morals ordering agreement in distinct forms (brand, serial number, license plate, colour, etc.) is imperative that it be written down. The seat of the commercial activity, in order to be transferred to another commercial enterprise of the creditors` agreement, must be brought. In this case, the holder of a business, when applying to the Registry Office for the modification of the creditor`s address, must also present a notarized consent.

(TURKISH.10) Section 2 of Act 1447 stipulates that the deposit agreement between private credit institutions, cooperatives and credit institutions with a natural or legal person and individuals or legal entities who own the hired trading business can be entered into by and between credit institutions with a legal entity. , cooperatives and credit sales establishments with a natural or legal person. At the time of registration of collateral for commercial activities and machinery, vehicles, equipment and vehicles of the transaction as securities transactions. It is possible to create more than one pledge on the same mortgaged land. A registered pawnbroker has priority over an unregured pawnbroker with respect to the same pawnshops. If there is more than one registered collector, priority is given to the deposit taker who has the earlier date of registration. Unless the commitments are agreed to otherwise, a deposit taker has priority over a pawnbroker in the context of a variable levy or a commitment to the companies. Derivative law includes the regulation relating to the establishment of personal guarantees in commercial transactions and the exercise of rights in the event of a delay (“implementation regulation”), the regulation on the valuation of personal assets in commercial transactions (“assessment regulation”) and the regulation relating to the register of personal collateral. The legislative regulation and regulations specify, among other things, the content, procedures and principles of mobile collateral agreements.

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