27 September 2026•Enforcement and Bankruptcy Law

Limitation Periods for Promissory Notes: Is the Period the Same for the Maker and Endorser?

Short answer: There is no single limitation period applicable to every party in a claim arising from a promissory note. As regards the maker of the promissory note the negotiable-instrument claim is, as a rule, subject to a period of three years from maturity. Different periods may apply to recourse against endorsers and to recourse claims between endorsers (Turkish Commercial Code Arts. 749, 778 and 779).

To which debtor does the three-year period apply?

Article 779 of the Turkish Commercial Code states that the maker of a promissory note is liable in the same manner as the acceptor of a bill of exchange; Article 778 applies the limitation provisions governing bills of exchange to promissory notes. Therefore, maturity and interruption dates are calculated for a negotiable-instrument claim against the maker. For a note payable without a fixed maturity or a certain period after sight, the first issue is how maturity is determined under the law.

Difference for endorsers

The one-year and six-month periods in Article 749 of the Turkish Commercial Code concerning recourse claims may become relevant depending on facts such as the debtor’s capacity and the date of protest or payment. The statement that “the period for a promissory note is always three years” may lead to an incorrect calculation for a claim against an endorser. The sequence of endorsements, protest and the entries on the instrument should be assessed together.

Does commencing enforcement affect the limitation period?

Article 750 of the Turkish Commercial Code lists acts interrupting limitation, such as an enforcement request and the filing of an action. Under Article 751, the persons against whom the interruption has effect are also a separate issue. Therefore, it is not sufficient merely to count the time elapsed from the maturity date to the present; previous enforcement proceedings and acts directed against each debtor should also be reviewed.

File review: The original instrument, maturity, maker, endorsers and guarantors by aval, together with protest documents, previous enforcement requests and the dates of relevant acts, should be placed on a separate timeline.

Related reading: Negotiable-instrument enforcement procedure.

Official source: Turkish Commercial Code Arts. 749–751 and 778–779 (Ministry of Justice UYAP Legislation).

This article does not determine that a particular promissory note is time-barred; the debtor’s capacity and any events interrupting limitation must be examined on a file-specific basis.