Liquited Damages and Contractual Penalties Under Turkish Law

By |2021-07-27T12:45:22+03:00June 8th, 2020|Construction|

The concept of Liquidated Damages is not regulated specifically under Turkish Law, this is the reason why it is hard to determine the difference between liquidated damages and penalties. The difference between these two concepts are explained by the Turkish Supreme Court in its decision dated 29.04.2010, based upon the existence of [...]