Installment shopping limits in retail trade reorganized
With the regulatory amendment made by the Ministry of Trade, the 12-month installment limit applied to non-housing goods and services sales in the retail sector, along with sectoral restrictions, were removed, and the authority was granted to the Ministry.
With the regulation amendment by the Ministry of Trade published in the Official Gazette, the 12-month installment limit applied to all goods and services sales in retail trade except for housing sales, as well as sectoral special duration and amount restrictions, have been abolished.
New Regulation Published in the Official Gazette
With the regulation amendment by the Ministry of Trade published in the October 15 issue of the Official Gazette, a comprehensive period has been entered in retail trade. With this change, the installment principles for non-housing products and services have been completely renewed.
12-Month Limit and Sectoral Restrictions Removed
The 12-month installment limit, which was applied as a basic rule in the existing regulation, has been completely eliminated. Additionally, previously determined special periods for air transportation, travel, accommodation, furniture, electronic devices, and white goods have also been abolished.
Authority to Determine Installment Periods Given to the Ministry
Along with the regulation amendment, the installment arrangements differentiated according to amounts and related paragraphs were also removed. The authority to determine periods and introduce additional restrictions on installment sales other than housing sales has been given entirely to the Ministry of Trade.
Implementation Unity and BRSA Compliance Aimed
In the statement made by the Ministry, it was aimed to ensure implementation unity regarding installment sales in retail trade. The regulation is targeted to be implemented rapidly in line with current needs and harmonized with BRSA decisions.