Commercial Enterprise Pledge Agreement

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The Commercial Deposit Act defines the constituent elements of a deposit contract. Key elements include (a) if the mortgaged heritage does not exist, indicate the expected description, the approximate date of existence and the approximate value of the mortgaged property; (b) the general description, amount or ceiling of the secured debt should be fixed; and (c) the due date or expected maturity date of the secured debt must be indicated. A complete list of the elements covered in the contractual commitments in a distinctive form (brand, serial number, license plate, color, etc.) must be written. In accordance with this procedure, the system of level of mortgage contracts (mortgage loans) is subject to mobile pledging unavailable for as long as the contract so provides. The preferential duty is determined after the date of establishment of the deposit, but in case of indication of the degree, the graduation system is used as a basis. The aim is to avoid disputes that may arise between creditors during the liquidation process. rights to patents, trademarks, designs, images, licenses, industrial property rights, such as enforcement, are included for commercial enterprises; However, they are not displayed in the list of elements related to the deposit contract, invalidity does not entail enforcement. In this case, all the goods contained in the property rights are considered as pledges. (TURC.3) At the time of distribution of this note, TARES is active and receives applications for online registration of mortgage bonds. Under the Implementing Regulation, movable pledge rights are defined as `irrespective of the nature of the movable property, the situation of the holder of the pledge or the bondholder, the quality of the debt secured by the pledge or the merits of the pledge by its parties, a right reduced downwards, based on movable property, including the rights of the assignee, in accordance with article 189 of Duty No.

6098 on the transfer of receivables for the purpose of securing repayment of a debt or performance of an obligation without the need to transfer ownership of the movable asset. A similar definition is defined further in the act. The law requires, among other things, the execution of a deposit contract for the establishment of mobile lockers. In accordance with the implementing regulations, a valid mobile pledge would be established with the respect of four elements. The initial element is the existence of a claim or a future receivable to be secured, and the other element is indicated as the presence of the intention of the parties to base mobile pledges. These elements are the general requirements of Turkish legislation; Even if such elements are not mentioned in the implementing regulation, their presence would therefore be mandatory by law. The third element is the preparation and execution of a deposit contract and, finally, the last condition is the registration of the deposit contract with the register of mobile deposit companies. The registration of a deposit contract would erect a mobile deposit. The pledging of the creditor in the type of company legal capital credit institutions and credit unions is a legal person and a real person who makes sales. However, only those who sell on credit machines, vehicles, tools, motor vehicles on the condition that the creditor can sell the deposit. Apart from these elements of goods, goods, raw materials, materials, etc., the contracting authorities may sell instructions to the creditor. (TURC.2-3) A mobile deposit contract is defined by law and the implementing decree as “the agreement to be signed between the creditor and the creditor to create a pledge”.

The deposit contract is subject to written or electronic form. Agreements prepared in writing must be executed before the register of movable consignment contracts or the signature of the parties must be notarized. . . .