Turkiye: Monetary limit determined in case disputes

The monetary limit for the decisions of the arbitration committee to be presented as evidence in the commercial court of first instance in the disputes between the producers and those who trade in vegetables and fruits has been determined as ₺388 thousand 917.43.

The Communiqué of the Ministry of Commerce on “Increasing the Monetary Limits in Article 10 of the Law No. 5957 on Regulating the Trade of Vegetables and Fruits and Other Goods with Sufficient Depth of Supply and Demand” was published in the Official Gazette.

With the Communiqué, the principles regarding the re-determination of the monetary limits determined in the relevant law by increasing 122.93%, which was determined as the revaluation rate for 2022, were regulated.

It will come into effect on January 1

Accordingly, for the year 2023, it will be mandatory to apply to the arbitration committees in disputes with a value below ₺388 thousand 917.43. In these disputes, the decisions of the committee will have the force of a verdict and the decisions will be implemented in accordance with the provisions of the Execution and Bankruptcy Law on the execution of the writs.

The decisions of the arbitral tribunal in disputes over and above the amount in question can be brought forward as evidence in the commercial court of first instance.

The Communiqué will enter into force on 1 January 2023.

Source: Trthaber / Translated by Irem Yildiz

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