How is the Tracking Based on the Exchange Deed Done

The execution and bankruptcy law has specially regulated the following-up by way of foreclosure based on exchange notes, separating it from the following-up by way of general foreclosure.Bills of exchange are from negotiable instruments, but the document that constitutes the basis of the receivable subject to follow-up is not enough to be a negotiable instrument, it must be one of the bills of exchange. Exchange notes are specified in the law in a limited number and there are three of them. These are: Bills of Exchange (Emre muharrer promissory note); Policy and Check. If the document on which the subject of follow-up is based on the receivable is not one of these three valuable documents, the follow-up path cannot be taken through the foreclosure path specific to foreign exchange promissory notes.

A creditor who is bound to the exchange promissory note he will receive, even if the receivable has also been secured with a pledge, is not obliged to apply for a pledge first Jul. This situation constitutes an exception to the obligation to apply for a pledge first. Although the specific follow-up path to the combination deed contains more privileged provisions for the creditor than the follow-up with the general foreclosure path, the creditor is free to choose the follow-up path he wishes. However, while the objection period to the pay order is 7 days in the follow-up by the general foreclosure method, it is 5 days in the follow-up path specific to the exchange deed.In addition, although the debtor’s objection to the paymentor’s order in the follow-up by the general foreclosure method stops the follow-up spontaneously, this objection in the follow-up by the foreclosure method specific to exchange notes does not stop the follow-up transactions other than the sale. If the creditor applies to the follow-up path specific to the exchange deed, the statute of limitations on the exchange deed will be applied, whereas if he applies for follow-up through the general foreclosure path, the general statute of limitations will be applied.III-) REQUEST FOR FOLLOW-UP In the collection of the bond by way of foreclosure specific to exchange notes, the creditor must add the original of the bond and a certified sample up to the number of debtors to the follow-up request, in addition to the issues that must be found according to IIK 58 in the follow-up by way of general foreclosure. Because the executive director pursuant to SEC 168/1 and the enforcement court pursuant to SEC 170a /2 have to investigate ex officio whether the bond in question has this qualification or not, the bond subject to follow-up should be given to the enforcement office together with the follow-up request.

REASONS FOR OBJECTING TO THE DEBT IN THE FOLLOW-UP BASED ON THE EXCHANGE PROMISSORY NOTE:

* In the follow-up based on the exchange deed, although the deed has not been protested, the cashiermaker may be asked for late interest from the maturity date.

* In the follow-ups based on the check for which there is no equivalent, interest may be requested gradually and at the rediscount (advance) rate for the period between the date of presentation or exchange of the payee’s check and the payment date. Dec.

* Since there is no ”issue date”, only legal interest can be requested from the borrower in the follow-up based on the document, which is not considered a bond, and rediscount interest cannot be requested.

* The debtor’s objection in the form of ”there is no debtor due to bills of exchange that do not have a signature“ is in the form of “objection to the debt”.

* If the applicant has protested, the holder may follow up on the beneficiary-endorser.

* An objection regarding the fact that falsification has been made by adding two zeros to the promissory note price is accepted as an objection to the debt.

* Asserting that the bond subject to follow-up is a security bond is an “objection to the debt”.

*The borrower who accepted the debt (interest rate) during the precautionary foreclosure later I.T.M.’neither(the Enforcement Law Court) can make an appeal against the debt.

* The creditor may not request delay interest from the debtor under the name of “maturity difference” other than “delay interest”.

* If it is understood that the bonds subject to follow-up are arranged for paying the mortgage amount and not as collateral for the mortgage, it is not possible to accept the debt as an objection.

* If the ordinary partnership is terminated before the date of receipt, only the partner whose signature is on the check is responsible for the cost of the check.

* The person who signs the exchange deed with the title of “guarantor” also has responsibility for the promissory note price as a “fiduciary guarantor”, even if he has not stated that he is a “fiduciary guarantor”.

* The addressee cannot follow up by way of foreclosure on foreign exchange promissory notes with a bet based on the cheque that has been turned over to him, as there is “no equivalent”.

* The claim that the cheque was falsified on the date of receipt does not constitute an objection to the debt.

* The stamp price affixed per year may be the subject of follow-up by way of foreclosure based on exchange notes.

* Objection to the ”accumulated interest amount“, ”interest rate” and ”check compensation” objection to the debt is accepted.

*A turnover made on a cheque written to the bearer does not change the nature of the deed and turn it into a written cheque to the order.

* If the check fee has been paid before the execution proceedings, no separate follow-up can be made in terms of the additional interest and check compensation.

*An objection regarding the default cannot be accepted as an objection to the debt.

*The creditor who has waived the follow-up cannot return from this waiver later.

*While the payee accepts the partial payment after the follow-up, there is no obligation to put forward a “passion registration”.

* If the blank check sheet issued in Turkish lira is filled in as a foreign currency receivable, the borrower’s objection to the debt must be accepted.

* Partial payments, which are understood as a result of the expert examination carried out on the scribbles on the back of the promissory note, can also be brought forward against the bearer of the promissory note.

*After tearing, the parts can not be followed up without Deciphering by gluing, relying on the year they were put together.

* Only if “interest“ is requested in the follow-up request, the legal interest is ruled.

* If the cheque has not been submitted to the addressee bank after the submission period has elapsed, the discoverer cannot be held responsible for the cost of the cheque.

* The debtor (Discoverer) cannot withdraw the cheque within the submission period.

* The falsification claim is filed with a separate petition within 5 days I.T.M. ‘what should be reported.

* The heirs to whom the prosecution is directed are jointly responsible for the debt of the deceased discoverer.

* The fact that the word ”refund” is written between the two lines drawn side by side in the bond text indicates that the bond has been Decommissioned

* Every signature put on the face of the bill of exchange is “aval” and every signature put on the back is “endorsement”.

*Legal interest may be requested for annual-based follow-ups that do not have the nature of bonds.

* The debtor who has objected to the debt is also considered to have objected to the interest.

* The cancellation provision taken by the applicant against the beneficiary is not effective if the pregnant woman who is not a party to the case is not a party.

* Claiming that the bond subject to follow-up has expired is an objection to the debt.

* Follow-up can be made about the fiduciary guarantor together with the main debtor or separately from him.

* The debtor must also pay “default interest” on the foreign exchange promissory notes that have not been submitted since maturity.

The debtor may file an objection with the Enforcement Audit Authority within 5 days based on the above reasons. However, this objection does not stop other follow-up transactions, apart from the general execution follow-up procedures, while only stopping the sale.

* If the objection to the debt is rejected and the creditor’s request is also made, denial compensation is ruled against the debtor. If the objection to the debt is accepted and the debtor’s request is also made, denial compensation is ruled against the creditor.

* As a result of the expert examination of the objection to the signature; in case of rejection, denial compensation is ruled against the debtor, even if there is no claim. regardless of the reason, in case of acceptance of the objection to the signature, even if there is a request, denial compensation is not awarded against the creditor.

* When the bad intention of the creditor is detected in the objection to the signature, a 10% fine is imposed against the creditor.

In addition, the debtor may file a complaint regarding the enforcement proceedings with the Enforcement Audit Authority (Enforcement Civil Court) based on one of the following reasons within 5 days;

1-TRACKING FORMAT (Complaint regarding the fact that the underlying bill of exchange is not in the nature of a foreign exchange bill, __ tracking cannot be done in a way specific to foreign exchange bills of exchange)

2-THE TITLE OF THE HOLDER (Complaint that the creditor is not a legitimate holder)

3-STATUTE OF LIMITATIONS COMPLAINT

In the event of the existence of one of these situations, the creditor may request the cancellation of the objection from the Enforcement Audit Authority (Enforcement Civil Court) within 6 months.

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