The Ministry of Commerce Communiqué on “Increase in Monetary Limits in Article 10 of Law No. 5957 to Regulate Trade in Vegetables and Fruits and Other Goods with Sufficient Depth of Supply and Demand” was published in the Official Gazette.

With the Communiqué, the principles related to the redetermination of the monetary limits determined in the respective law were regulated by means of an increase of 122.93 percent, which was set as the revaluation rate for the year 2022.

The monetary limit has been set at 388,917.43 liras for the decisions of the arbitration committee to be presented as evidence in the commercial court of first instance in disputes between producers and those who trade in vegetables and fruits.

UP TO REVALUATION RATE

Consequently, in disputes with a value lower than 388 thousand 917.43 liras by 2023, it will be mandatory to go to the arbitration committees.

In these disputes, the decisions of the committee will have the force of verdict and the decisions will be executed in accordance with the provisions of the Law of Execution and Bankruptcy on the execution of the writs.

Decisions of the arbitral tribunal in disputes exceeding the amount in question can be presented as evidence in the commercial court of first instance. (AA)