My Article was published in Terazi Hukuk Dergisi!

I would like to announce with great pleasure that my article titled "Legal Characteristics and Encashment Of Bank Letters Of Guarantee" was published in the January 2022 issue of Terazi Hukuk Dergisi. You can find the abstract and the link below. I wish you good reading.

Link: https://www.jurix.com.tr/article/25977

Abstract:

In Turkish law, there have been debates about the legal characteristics of bank letters of guarantee, both in doctrine and in Supreme Court decisions. These debates are mostly about whether the bank letters of guarantee are a surety agreement or a guarantee agreement in connection with the article 128 of the Turkish Code of Obligations No. 6098. In our opinion, the main difference between these two agreements is that surety agreements depend on the fate of the principal debt, whereas in guarantee agreements there is an independent debt relationship.

In the first part of this study, the definition of bank letters of guarantee and the parties are explained. In the second part, the legal characteristics of bank letters of guarantee is mentioned. In the third chapter, the issue of encashment of bank letters of guarantee is discussed. In this context, the realization of the risk, the demand for payment by the addressee, and the obligation of the bank to examine it as a guarantor are mentioned. In addition, in this study, the bank's pleas against the addressee and the main obligation of the bank, which is the payment obligation, due to the letter of guarantee relationship are expressed.