Insurance and Tariff Rules for Licensed Warehousing Changed
· gazete3.com.tr
With the new regulation published in the Official Gazette, the insurance notification obligation in licensed warehouses has been tightened, and the principles for updating fee tariffs have been redefined.
The Regulation Amending the Regulation on Licensed Warehousing of Agricultural Products has been published in the Official Gazette and entered into force. According to the new regulation, the relevant insurance company is obliged to immediately notify the Ministry of Trade and the licensed warehouse operator in case of a situation leading to the termination of insurance contracts or changes in coverage amounts.
Within the scope of the regulation, licensed warehouse fee tariffs will gain validity after Ministry approval and publication in the Turkish Trade Registry Gazette. Fees will be updated every January at the rate of the annual PPI and CPI average announced by TÜİK. The Ministry will have the authority to reduce this rate by half, considering market conditions and regional needs, and to update it on different dates for specific product groups, not exceeding twice a year.