The collateral quantity shall be determined by the courtroom and/or the execution office to cover the adverse costs that might be incurred by the counterparty as well as losses or damages of the counterparty. The courtroom and/or the execution office shall exempt the claimant, intervening get together, or applicant for execution from offering collateral on a reciprocity foundation. Reciprocity can be established via bilateral or multilateral agreements on mutual judicial assistance in civil issues between the nations. As Turkey is a celebration to Hague Convention of 1 March 1954 on Civil Procedure, nationals of different contracting states are exempt from depositing collateral whereas submitting lawsuits.
Related Posts
