Calculating the Claim, Interest, Default and Statute of Limitations

Due Date, Maturity and Debtor’s Default

The existence of a claim and its becoming enforceable are not the same thing. Before a lawsuit or enforcement proceedings, it must be examined whether the debt has fallen due, how the due date was determined and whether a separate notice is required for default.

• Fixed due date, unfixed due date and payment schedule
• Determining the date on which the debt fell due
• Debts with no due date clause
• Whether the remaining instalments fall due in instalment debts
• The validity and scope of the acceleration clause
• Notarized notice, Registered Electronic Mail (KEP), written demand and other notices
• Cases of default that require, and do not require, a formal notice (ihtar)
• Special default provisions in the supply of commercial goods and services
• The debtor’s declaration that it is not ready to perform
• The effect of the date of default on claims for interest and damages

Interest, Exchange-Rate Difference and Ancillary Claims

The type and the start date of interest may vary according to the source of the claim, the status of the parties, the contract, the date of default and the regulations in force in the relevant period. For this reason, the principal, the type of interest, the rate, the start date and the periods must be determined separately.

• Contractual interest and default interest
• Statutory interest and interest applicable in commercial transactions
• Interest for late payment in the supply of commercial goods and services
• Determining the start date of interest
• Periodic application of changing rates
• Interest on foreign-currency claims
• Exchange-rate difference and problems of alternative claims
• Contractual penalty, interest for late payment and other ancillary claims
• The prohibition of interest on interest and its statutory exceptions
• Allegations of damage exceeding default interest

Because interest rates may change over time, no fixed rate is stated on this page. The calculation is made taking into account the period in which the debt arose, the type of legal relationship and the regulations in force.

Which Dates Matter for the Statute of Limitations and Notices?

Under TBK Art. 146 the general period is ten years; Art. 147 and special statutes provide shorter or different periods. A single period does not apply to every claim. The due date, the date of learning, payment, acknowledgment of debt and the dates of the lawsuit or enforcement proceedings are examined according to the legal ground. Sending a formal notice does not, by itself, interrupt the statute of limitations in every case.

UETS and notification by post

An electronic notification is deemed served at the end of the fifth day following the date on which it reaches the UETS address; failing to read it does not prevent this result. For notification by post, the manner of delivery, the service certificate and, where applicable, the muhtar (neighborhood head) procedure are examined. The day you actually become aware of the document is not always the legal date of service. In calculating time limits set in days, the relevant procedural provision applies.

KEP is not the same system as UETS. The legal effect of a KEP formal notice is assessed according to the type of the act, the formal requirements and the sending and delivery records. The five-day rule of UETS does not apply to every KEP message.

Information to rely on in calculating interest

• The principal and the currency; the date of each payment and which debt it relates to.
• The due date, the notice of default and the document proving that the notice was received.
• The interest provision in the contract; whether the relationship is commercial, consumer or of another nature.
• The rates in force in the relevant period, the dates of change and any special provisions.

This page is not a personalized deadline or interest calculator. Before any calculation is made, the supporting documents and the official rates of the relevant period are checked.