Movable pledge on commercial transactions

While carrying out economical and commercial activities, the need for access to finance occurs. In order to meet this need, it may be required to establish pledges on movables. The general rule for establishment of a movable pledge is to transfer possession of pledged movables. To avoid drawbacks of movable pledge (i.e. transfer of possession), the possibility of establishment of pledges on enterprises by registration was first introduced in Turkish law with the abolished Commercial Enterprise Pledge Law No. 1447. Since this law had not met the expectations and needs, the Law on Movable Pledge in Commercial Transactions No. 6750 has been entered into force on 01.01.2017. Although the main purpose of the law is to establish pledges on movables by registration without requiring transfer of possessions of those, it also includes a number of provisions that are novel for the Turkish law system. Accordingly, in our master's degree thesis, the provisions of the Law on Movable Pledge in Commercial Transactions No. 6750 have been examined by comparing those with the provisions of the abolished Commercial Enterprise Pledge Law No. 1447, as the case may be.