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resentation”. A real person or legal entity agent is legally required to
conduct the agency operations in compliance with the principal’s
instructions and in a manner consistent with the interests of the principal.
Freedom of contract principle is also relevant for the agency con-
tracts. In the absence of such contractual arrangement, provisions on
agency contracts laid down in the NTCC shall apply. In the cases
where, there is no provision in the articles of the NTCC on agency con-
tract, the provisions concerning the occasional intermediaries under
the new Code of Obligations numbered 6098 (“NTCO”) will be
applied to the commercial agencies who act as intermediaries and the
provisions concerning commissioners will be applied to the commer-
cial agencies who conclude contracts; if there are no such provisions,
then the provisions about representation will be applied.
Certain special topics regarding agency are regulated under other
various Codes. For example; insurance agencies are regulated in
Insurance Code and travel agencies are regulated in Travel Agencies
and Travel Agency Unions Code. The intermediaries who are agencies
of brokerage houses in the purchase and sale of capital markets instru-
ments are regulated under the Communiqué of the Capital Markets
Board Regarding The Principles on Intermediary Activities and
Intermediary Institutions, Serial: V, No: 46.
Legally Required Form for an Agency Contract
As per the general rule under NTCO, validity of contracts is not
subject to any legal form, provided that a specific form is held manda-
tory under a specific law. As there are no specific laws requiring any
such mandatory form (including the relevant provisions of the NTCC
governing agency contracts) an agency contract may be entered into
even in a verbal form. Notwithstanding the foregoing, in light of the
Civil Procedures Law numbered 6100, a written document
i.e.
a docu-
ment signed by a principal and an agent is required to prove the valid
existence of a contract if the disputed amount exceeds TRL 2500
(app. Euro 1100), should there be any disputes regarding the agency
relation.
Notwithstanding the foregoing, should a principal contemplate to
grant to the agent authority to execute contracts and other legal docu-
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NEWSLETTER 2012