ERDEM-NEWSLETTER-2018-metin

255 LAW OF OBLIGATIONS Restrictions and Exemptions in terms of Contracting Parties Contracting Party Is Foreign Currency or Foreign Currency Indexed Contract Allowed ? Exemptions 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, and in respect of their free zone activities, companies located within free zones are parties Allowed • Immovable sale and lease contracts • Vehicle sale and lease contracts including cons- truction vehicles • Independent cont- ractor contracts Contracts to which Turkish residents who are not Turkish citizens are parties Allowed • Immovable sale and lease contracts • Vehicle sale and lease contracts, including construction vehicles • Independent contractor contracts Contracts to which public institutions and organisations, as well as Turkish Armed Forces Foundations companies, are parties Allowed • Immovable sale and lease contracts Contracts executed by contractors within the scope of performance of tenders, agreements and international conventions, which public institutions and organizations are parties to, provided that such tenders, agreements and international conventions are in a foreign currency or indexed to a foreign currency Allowed • Immovable sale and lease contracts • Employment contracts