ERDEM-NEWSLETTER-2018-metin

245 LAW OF OBLIGATIONS • The immovable sale and lease contracts to which Turkish residents, and who are not Turkish citizens are parties; and the immovable sale and lease contracts to which branches, offices, representative offices and liaison offices of foreign companies, located in Turkey, companies located in Turkey in which foreigners have a 50% or more direct or indirect shareholding or joint control, and/or control or in respect of their free zone activities of these companies, and companies located within free zones, and parties noted as “buyer or les- see,” have been removed from the scope of the ban. • The expression of “immovable properties located in free zo- nes” has been removed from the provision regarding the ban on the payment obligations arising from the immovable sale and lease contracts of Turkish residents entered into amongst themselves, in line with free zones legislation. • The payment obligations related to the immovable lease contracts regarding rental of accommodation facilities certi- fied by the Ministry of Culture and Tourism for the purpose of operation have been removed from the scope of the ban. • The payment obligations related to the immovable lease contracts regarding rental of duty-free shops have been re- moved from the scope of the ban. • Moreover, deposits given within the immovable property lea- se contracts and negotiable instruments that are in circulation within the fulfillment of the contracts are also included in the provision that stipulates that the obligation to re-determine the prices regulated under the provisional Article 8 of Decree No. 32 (“Provisional Article”) shall not apply to already col- lected receivables, or to receivables that are due, but which have not yet been collected, and it is clarified that these shall not be subject to the re-determination. Employment Contracts In addition to the contracts (between Turkish residents) to be fulfilled abroad, the payment obligations related to the employment