Politics · Turkey · 5 hrs ago

Turkey Raises Debt Threshold for Public Tender Bidders to 50,000 Lira

Turkey Raises Debt Threshold for Public Tender Bidders to 50,000 Lira

Turkey has raised the debt limit for public tender bidders from 5,000 to 50,000 lira.

The change applies to tax and social security premium debts held by individuals and companies seeking public contracts.

The Public Procurement Authority prepared the change to Turkey’s general public tender rules, and it was published in the Official Gazette.

The new limit takes effect 30 days after publication.

Tenders announced or notified in writing before then will be completed under the rules in force when they were announced.

The change matters because it sets the debt amount relevant to participation in public tenders.

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Public Procurement Authority regulationRegulation
This Communiqué shall enter into force 30 days after its publication.
via Bloomberg HT