5. You will find detailed explanations of the differences between the guarantee and guarantee agreements and the schemes adopted by TCO under Asik Zibel, Berna, guarantee and guarantee agreements, Erdem – Erdem Newsletter, September 2011. In addition, first-application payment clauses, linked to an unconditional obligation and not subject to recourse or the absence of a right of objection to the debt, may lead to the conclusion that the agreement is a guarantee agreement. One of the circumstances that require an interpretation of the intentions of the parties under Turkish law is whether a security relationship between the parties is a guarantee contract or a guarantee agreement. This issue has long been debated in education and in the judgments of the Court of Justice4. Some criteria can be used to distinguish between these two types of agreements8. The first criteria to be considered are the expressions used by the parties. While the parties` statements are not sufficient to determine the nature of the agreement, it is clear that these expressions are the starting point for determining the nature of the legal relationship. As has already been mentioned, the use of these two words instead of each other causes considerable problems. This is especially the case for translations of foreign languages into Turkish. The English word “guarantee” is translated into Turkish as a “guarantee” and “guarantee.” However, the nature of the agreement is not taken into account in the translation. Therefore, the expressions used by the parties are important in determining the nature of the agreement.
However, the clarity of the parties` statements does not exempt the interpretation. It is essential to determine whether the nature of the security relationship between the parties is a guarantee contract or a guarantee agreement, because of differences in the conditions relating to the training, characteristics and articles of the agreements, even if their security function is similar. First, it is worth mentioning briefly the differences between these two agreements.5 It turned out that guarantee agreements and guarantee agreements are two distinct types of agreements that are easy to confuse. However, it is important to distinguish between the two and the above criteria can be used. However, the above criteria are not sufficient to determine the nature of an agreement. In addition, each legal relationship has its unique conditions. Therefore, each situation must be assessed on a case-by-case basis when it is established whether a security relationship is a guarantee agreement or a guarantee agreement.