Author Topic: Semit  (Read 2179 times)

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Offline brianthegardener

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Semit
« on: November 17, 2008, 20:18:37 PM »
I understand a Semit is like a buisnes cheque...can anyone tell me how this works and or who is gaurantee the semit...thank you in advance :)



Offline cef

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Semit
« Reply #1 on: November 17, 2008, 20:42:26 PM »
Hi Brian, I think it's a 'I.O.U', a 'promissory note'.

Offline brianthegardener

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« Reply #2 on: November 17, 2008, 20:47:56 PM »
Quote
Originally posted by cef

Hi Brian, I think it's a 'I.O.U', a 'promissory note'.
[
/quote]

I thanks for reply Cef ...do you know if there is a guarantee with the semit? and if so by who?

Offline cef

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« Reply #3 on: November 17, 2008, 21:02:07 PM »
If it's what I think it is Brian, a guarantee or guarantor will be as good or bad as the person making it.

If it were me, I stick to cash mate  :)

Offline brianthegardener

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« Reply #4 on: November 17, 2008, 21:12:34 PM »
quote:
Originally posted by cef

If it's what I think it is Brian, a guarantee or guarantor will be as good or bad as the person making it.

If it were me, I stick to cash mate  :)



thanks Cef :)

Offline KKOB

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« Reply #5 on: November 18, 2008, 08:14:13 AM »
Further to my emails to Brian, here's a bit of info for other members.

A SENET is a promissory note, voucher or IOU. Although you obtain them from banks, the bank is not acting as guarantor for any money involved.

You get the form from a bank and just fill-in the blank spaces. You can have the form notarised, or not.

If the purchaser backs out of the deal, you can use the Senet to take them through the courts, but even if a judge agrees with you and decides that a custodial sentence is appropriate, the sentence could be served by the accused and they could still retain the property and the outstanding money.

It's unlikely that a Turkish person would accept a Senet in a transaction in the current economic climate.
« Last Edit: November 18, 2008, 08:15:52 AM by KKOB »

Offline cef

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« Reply #6 on: November 18, 2008, 14:15:14 PM »
 :) Good explanation Alan.  Good to know I had the gist of it right  8)




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