Loan Agreement
"What governs commercial loans in Turkey?"
Quick Answer
A formal contract between a lender and borrower detailing the principal loan amount, interest rates, repayment schedule, and covenants.
Scope and Legal Distinctions
A loan agreement should distinguish principal, interest, maturity and security. Corporate borrowing authority and cross-border payment or tax issues are separate from the debt promise.
What to Check in Practice
Record disbursement, repayment schedule, default and acceleration provisions; check guarantees and security perfection before funding.
Sources & Authorities
Statutory framework and official guidance for this definition.
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