ERDEM-NEWSLETTER-2018-metin

247 LAW OF OBLIGATIONS Independent Contractor Contracts The payment obligations related to “independent contractor con- tracts that include costs in foreign currency” of Turkish residents en- tered into amongst themselves have been removed from the scope of the restriction. Prior to this Communiqué, only independent contractor contracts made for the construction, repair and maintenance of ships were outside of the scope. Movable Sale and Lease Contracts While the provision that states that the contract price in mov- able sale and lease contracts of Turkish residents entered into amongst themselves, excluding vehicle sale and lease contracts, shall be de- termined in foreign currency, or foreign currency, indexed, has been protected, the construction vehicles has been removed from the scope of the said provision by the Amending Communiqué. However, it states that vehicle lease contracts and commercial vehicle sales contracts concerning passenger transportation that have executed prior to 13 September 2018, are exempt from the Provisional Article which states that the payment obligations determined in for- eign currencies under existing contracts shall be re-determined by the parties to be in Turkish currency. Financial Leasing Contracts The exceptions that were set forth under the Communiqué regard- ing financial leasing contracts for ships, and the financial leasing con- tracts made within scope of Articles 17 and 17/A of the Decree No. 32 have not been amended. In addition to these provisions the Amending Communiqué also states that financial lease contracts on movables and immovables that have been executed prior to 13 September 2018 are exempt from the Provisional Article concerning re-determination of the amounts. Software Contracts It has been clarified that the licensing and servicing contracts for hardware and software for Turkish residents entered into amongst