News & Insight
As of 01.01.2021, new ICC Rules for Arbitration have become effective. Here in this paper, we would like to outline the revisions that stand-out in the new 2021 ICC Rules. a. Joinders Pursuant to 2017 ICC Rules, unless otherwise is agreed by all parties (including the additional parties), joinders after the confirmation or appointment of […]
As a fast-growing economy in a strategically vital locale between Europe and the Middle East, a robust business community and a young population — Turkey offers many opportunities for foreign investors. Too, in recent months, the Turkish Government has announced a renewed commitment to reform to attract more foreign investment – redoubling a long-standing tradition […]
The UK-Turkey Free Trade Agreement (the “FTA”) was signed on 29.12.2020 by the UK’s International Trade Secretary Liz Truss and Turkey Minister of Commerce, Ruhsar Pekcan in a video-conference call and will be effective as of January 1st, 2021. Although Turkey is not a member of the EU, it has been a member of EU […]
Amendments and additions have been made to the consumer protection legislation with the Regulation Amending the Regulation on Warranty Certificate (the “Warranty Certificate Amending Regulation”), the Regulation Amending the Regulation on After-Sales Services (the “After-Sales Services Amending Regulation”) and the Regulation Amending the Regulation on Introduction and User Manual (the “Introduction and User Manual Amending […]
Having been published on the Official Gazette No. 31322 dated 02.12.2020, the Law No. 7257 Regarding Amendments to the Electricity Market Law and Other Laws (the “Law”) brings important changes to the Value Added Tax Law No. 3065, Natural Gas Market Law No. 4646, Mining Law No. 3213, Public Procurement Law No. 4734, Law No. […]
Having been published on the Official Gazette No. 31322 dated 02.12.2020, the Law No. 7257 Regarding Amendments to the Electricity Market Law and Other Laws (the “Law”) brings important changes to the Value Added Tax Law No. 3065, Natural Gas Market Law No. 4646, Mining Law No. 3213, Public Procurement Law No. 4734, Law No. […]
The Presidential Decree No. 3238 (the “Decree”) regarding extension of application period for short-time working payments has been published on the Official Gazette No. 31321 dated December 1st, 2020. Short-time working allowance period, that was regulated subject to the principles as per the Temporary Article 23 of the Unemployment Insurance Law No. 4447, has been […]
The decision No. 9965-2 of the Electricity Market Regulatory Board (the “EMRB”) in relation to Principles and Procedures Regarding Electricity Futures Market Operation (the “EFM Principles and Procedures”) that regulates the futures transactions in the electricity market was published on the Official Gazette No. 31027 dated 02.02.2020. The effective date which was determined as 01.12.2020 […]
Enforcement of Russian Judgements As we explained in our previous insight regarding enforcement of foreign judgements in Turkey (which you may access by clicking here), in order for a foreign judgement to be enforced in Turkey a judgement to that effect needs to be acquired from a Turkish court. Apparently, the same rules and procedure, […]
1. Purpose and Scope Having been published on the on the Official Gazette No. 31304 dated 14.11.2020 the Regulation Regarding Renewable Energy Source Guarantee Certificate (the “Regulation”) regulates the establishment of renewable energy source guarantee certificate system (“YEK-G System”) which provides the opportunity to follow, prove and disclose the source of electricity supplied to the […]