NEWSLETTER-2017

249 LAW OF OBLIGATIONS • The trade registry registration number or equivalent means of identification with that registry (i.e. MERSIS Central Tra- de Registry Number or tax identification number; whichever is applicable), etc. Both the current E-Commerce law and the Draft Regulation aims to impose transparancy requirements with respect to commercial com- munications prior to the execution of the contract. In addition to the foregoing, the Draft Regulation further imposes additional information requirements where the service provider un- dertakes to state the price of the service(s) clearly and unambigouosly, together with any and all costs and expenses that may arise. Formation of the Contract According to the Turkish Code of Obligations, a contract is formed through the exchange of offers and acceptance. E-Commerce Law does not establish the time at which the contract must be considered to be concluded, nor does it determine when a service provider may be con- sidered as having made an offer on the Internet. The Draft Regulation, on the other hand, sets out that the order and the acknowledgement of receipt shall be considered to be received when the parties to whom they are addressed are able to access the recipient which introduces a third step of contract formation - acknowledgement of receipt. The Draft Regulation further deals with the complaint handling policy where the consumer can address any complaints within 6 (six) months from the formation of the contract to the relevant provincial directorate of which the service provider is registered. Conclusion The rationale behind the E-Commerce Law and the Draft Regula- tion is to create legal certainty by validating electronic contracts. The Draft Regulation contains extensive information requirements prior to the conclusion of the contract, and a confirmation procedure for the formation of contract. As e-commerce in Turkey continues to expand, there will be need for additional regulations to protect consumers and create legal security, in addition to the current laws and regulations.