Monetary limit for disputes between producers and fruit and vegetable traders set at 616,278.55 Turkish Lira

The "Communiqué on Increasing the Monetary Limits Stated in Article 10 of the Law on the Regulation of the Trade of Vegetables and Fruits and Other Goods with Sufficient Supply and Demand Depth," prepared by the Ministry of Trade, has been published in the Official Gazette.

The communiqué regulates the principles for re-determining the monetary limits specified in the relevant law by increasing them by 58.46 percent, which was determined as the revaluation rate for the year 2023.

Accordingly, for the year 2024, application to wholesale market arbitration committees will be mandatory for disputes with a value below 616,278.55 Turkish Lira. In these disputes, the decisions made by the committee will have the force of a court ruling, and the decisions will be implemented in accordance with the provisions of the Enforcement and Bankruptcy Law regarding the execution of court rulings.

For disputes at or above this amount, the decisions made by the wholesale market arbitration committee may be presented as evidence in the commercial court of first instance.

The communiqué will enter into force on January 1, 2024.

News Source: 12punto