Postdating a cheque
This is the case for promissory notes in regular use for commercial transactions by smaller and medium-sized companies.
Similarly, with the postdating of cheques a commonplace practice, the cheque serves as both a title of payment and a credit instrument.
There are, as such, particular advantages deriving to creditors from the use of negotiable instruments like bills of exchange, promissory notes, and cheques – provided they have been duly established and that any legal action is taken within the legal limitation period.
They enable creditors, without obtaining a prior ruling, to approach directly the enforcement office (Icra Dairesi) for service on the debtor of an injunction to pay and then, as necessary, to proceed with the seizure of the debtor’s assets.
In addition, private consumption should be boosted by consumer confidence, which has improved significantly since the beginning of the year.
Last update : June 2017 In the domestic market, traditional instruments for credit payment are still in common use as they not only constitute a means of payment but also can often serve as negotiable instruments.
The increase in exports, due to the strength of the European demand and the depreciation of the lira, will be offset by higher prices for energy imports and for components used in the manufacture of exports.
The services balance surplus (1.8% of GDP in 2016) will remain weak, as the gradual return of Russian tourists is not sufficient to outweigh the loss of European visitors.
Although the reaction of the markets has been rather positive, the possibility of early elections weighs on domestic and foreign investment intentions.
Breaches to the rule of law, the ambiguous and uncertain relationship between Turkey and the EU, tensions in the south-east of the country, military operations in neighbouring countries and anticipated changes in the US monetary policy are likely to weigh on the economy.
First, the depreciation of the lira should encourage exports.