“Amending Regulation Regarding the Regulation on the Principles and Procedures to be Applied in Retail Trade’’ (the “Amending Regulation’’) has been published in the Official Gazette dated 15 August 2018 and numbered 30510, and entered into force as of 1 September 2018.
The Amending Regulation regulates the instalment terms to be applied to the sales of goods and services by the retailers, including the sales of electronic goods and jewellery. According to the provisions introduced by the Amending Regulation;
- The instalment term for the sales of goods and services shall not exceed twelve (12) months. Moreover, this implementation shall also apply in case of postponement of the payment or instalment of the debt after the sale of goods or services.
- Instalment terms have been limited as three (3) months for the sales of television, audio and video systems and six (6) months for the sales of mobile phones.
- Instalments for the sales of jewellery have been repealed.
By Duygu Bozkurt, Attorney at law, Asu Motur, Trainee, Moral & Partners
