The execution and bankruptcy law has specially arranged for the follow-up to be carried out by means of foreclosure based on foreign exchange promissory notes, separating it from the follow-up by means of general foreclosure.Exchange notes are valuable documents, but it is not enough that the document that constitutes the basis for the follow-up will be a negotiable instrument. Foreign exchange certificates are specified in the law in a limited number, and there are three. These are: bonds; policies and checks. If the document on which the claim is subject to follow-up is not one of these three valuable documents, then it is not possible to follow-up with the lien that is specific to the foreign exchange notes.
A creditor who is bound to the bill of exchange will have no obligation to apply for a pledge even if the creditor has been provided with a pledge at the same time. This is an exception to the obligation to apply for rehne first. Despite the fact that the way of follow-up is more privileged in terms of the creditor than the follow-up by the way of general foreclosure , the creditor is free to choose the follow-up route he wishes. However, the period of objection to the payment order in the follow-up through the general lien is 7 days, while in the follow-up path specific to the bill of exchange is 5 days.In addition, although the debtor’s objection to the payment order stops the follow-up by itself in the follow-up through general lien, this objection does not stop the follow-up operations other than the sale in the follow-up through lien specific to the exchange notes. If the creditor applies to the follow-up path specific to the exchange note, the expiration times for the exchange note will be applied, whereas if the creditor applies to follow-up via general foreclosure, the general expiration times will be applied.III -) follow-up request in the collection of bills by means of lien specific to foreign exchange notes, the creditor has to add the original of the bond and the approved sample as much as the debtor to the follow-up request other than the issues that must be found in accordance with IIK 58 in the follow-up by means of general lien. Because the executive director in accordance with IIK 168/1 and the icraHukuk court in accordance with IIK 170a/2 has to investigate whether the bond in question is of this quality, the bond subject to follow-up must be given to the executive office with the follow-up request.
REASONS FOR OBJECTION TO DEBT IN FOLLOW-UP BASED ON EXCHANGE NOTES:
* In the follow-up based on the foreign exchange note,although the note is not protested ,a delay interest may be requested from the date of maturity.
* In the follow-up based on the cheque for which there is no provision, interest may be requested for the period between the date of presentation of the cheque or the date of exchange and the date of payment-gradually and at the rate of rediscount (advance).
* Due to the fact that there is no” date of arrangement”, only legal interest can be requested from the debtor and no rediscount interest can be requested in the follow-up made based on the document which is not considered a bond.
* The objection of the debtor as” there is no debtor due to the bonds that do not have a signature “is as “objection to debt”.
* In case of protest of the disciple ,the bearer may follow up on the beneficiary-ciranta.
* The objection that falsification has been done by adding two zeros to the amount of the deed is considered as an objection to the debt.
* Asserting that the deed subject to follow-up is a guarantee deed is “objection to debt”.
* The debtor who accepts the debt (interest rate)at the time of the Prudential foreclosure is later I.T.M.’ne (Enforcement Law Court) cannot contest the debt.
* The creditor may not ask the debtor for “overdue interest” other than “interest on interest” under the name of “interest on interest”.
* It is not possible to accept the debt as an objection if it is understood that the bonds subject to follow-up are arranged for the payment of the mortgage price rather than as collateral of the mortgage.
* If the ordinary partnership is terminated before the date of the check,only the partner who signed the check is responsible for the check price.
*The person who signs the bill with the title of “guarantor”is also responsible for the amount of the bill as “guarantor”even if he has not stated that he is a “guarantor”.
* The interlocutor cannot follow up with the lien for foreign exchange Bonds by betting on the “no money”based on the check that has been endorsed to him.
