Period: 21 Legislative Year: 1 Warning: You Are Viewing The Law, Parliamentary General Assembly Accepted. If It Does Not Contain Any Changes That Are Made Later. Amendments To The Law Concerning The Legal Interest And Default Faizine About

Original Language Title: Dönem : 21 Yasama Yılı : 1 Uyarı: Görüntülemekte olduğunuz Kanun, TBMM Genel Kurulunda kabul edildiği halidir. Varsa daha sonra yapılan değişiklikleri içermemektedir. KANUNÎ FAİZ VE TEMERRÜT FAİZİNE İLİŞKİN KANUNDA DEĞİŞİKLİK YAPILMASI HAKKINDA

Read the untranslated law here: https://www.tbmm.gov.tr/kanunlar/k4489.html

Law No. 4489:15.12.1999 Article 1.-Legal Interest and Default No. 3095 dated 4.12.1984 Faizine article 1 of the law For has been changed as follows. Article 1. -According to the code of obligations and the Turkish trade law, the amount of interest must be paid, was detected with the contract payment, annual, on December 31 of the previous year by the Central Bank of the Republic Turkey short-term credit operations through the rediscount rate applied. The aforementioned rediscount rate on December 31 of the previous year, on June 30, rediscount rate applied is different from the five points or more during the second half of the year, this rate will apply. Article 2. -3095 article in article 2 has been changed as follows. Article 2. -The payment of A sum of money owed, with contract falling defaults unless otherwise agreed, the history set out in article 1, for the rate of default interest on the payment. On December 31 of the previous year by the Central Bank of the Republic Turkey short-term advances to the interest rate, is more than the amount described above, by the way, even if an event of default interest in commercial business contract that can be requested through rate. The aforementioned advance interest rate on December 31 of the previous year, on June 30, the advance interest rate applied is different from the five points or more in the second half of the year, this rate will apply. Events of default interest in the amount of contract is pending, the akdî is on top of the amount stipulated in the above provisions, interest amount, interest amount, interest amount cannot be less than akdî default. Article 3. -Act No. 3095 included the following provisional article. TRANSITIONAL ARTICLE 2. -Temporary suspension of this law article 1, earlier than the interest receivable arising from the relationship as also apply. Article 4. -This law enters into force on 1 January 2000. Article 5. -The provisions of this law, the Council of Ministers.