Real Estate Law and Construction Law

Risk management is a critical aspect of international construction projects. One of the key tools used to manage risk in this context is the provision of bonds. It is common industry practice for employers to require contractors to provide bonds as security for potential risks and various obligations. This practice is also reflected in standard form construction contracts, such as those issued by the International Federation of Consulting Engineers (FIDIC), the New Engineering Contract (NEC) and the Joint Contracts Tribunal (JCT), which include provisions addressing different scenarios in which bonds may be provided.

This article briefly describes the practical operation of pay-when-paid and pay-if-paid type payment clauses, which are frequently encountered in construction projects and, accordingly, in construction contracts. In this piece, I will not go into the details of the doctrinal debates and will rather adopt a practical perspective.

29 Nisan 2026 tarihli ve 33238 sayılı Resmi Gazete’de yayımlanarak yürürlüğe giren Taşınmaz Ticareti Hakkında Yönetmelikte Değişiklik Yapılmasına Dair Yönetmelik ile gayrimenkul alım satım işlemlerinde güvenli ödeme sisteminin kullanımı 1 Temmuz 2026 tarihi itibarıyla zorunlu kılınmıştı.