Default Interest Rate Determined for Late Payments to Creditors in the Supply of Goods and Services

In the Communiqué on Determining the Default Interest Rate for Late Payments to Creditors in the Supply of Goods and Services;

Pursuant to the seventh paragraph of Article 1530 of the Turkish Commercial Code, in cases where the default interest rate for late payments to creditors in the supply of goods and services is not stipulated in the contract or the relevant provisions are invalid,

the applicable interest rate has been announced as 11.75% per annum as of January 1, 2023, and the minimum recovery amount that can be claimed for the costs of collecting the receivable has been announced as 800.00 Turkish Lira.