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Assignment of Receivables as Security
*
Att. Nilay Celebi
Introduction
The assignment of receivables, which constitutes an important
security method under the obligations law, is regulated under Articles
183 to 190 of the Turkish Code of Obligations, No: 6098 (“Code”).
The Code does not specifically define assignment of receivables.
Pursuant to Art. 183 of the Code, the assignor assigns its receivables
arising from an obligation under a contract to a third party without
the necessity of the consent of the debtor. We will hereby briefly
explain the voluntary assignment of receivables under Turkish law and
banking practice.
Assignment of Receivables
Legal Nature, Scope
The receivables right is assigned to the assignee under the assign-
ment of receivables
1
. The assignment of receivables is a way of dis-
posal; therefore, the assignor should have the rights arising from these
receivables
2
. For example, an assignment of receivables over an asset
having attachments or injunctive relief is invalid since there is no
power of disposition over it.
The assignment of receivables is subject to the validity of the main
agreement, and this is commonly accepted by the scholars
3
. In other
LAW OF OBLIGATIONS
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Article of July 2015
1
Prof. Dr. Fikret Eren
, 6098 sayılı Türk Borçlar Kanununa Göre Hazırlanmış Borçlar Hukuku
Genel Hükümler, 14. Baskı, Yetkin Yayınları, Ankara, 2012, p. 1224.
2
Eren, p. 1228.
3
Pls see
Prof. Dr. Kemal Oğuzman/ Prof. Dr. M. Turgut Öz
, Borçlar Hukuku Genel Hükümler
Cilt-2 for an opposite opinion, 9. Bası, Vedat Kitapçılık, İstanbul, 2012, s.534.