Turkey Payment Survey 2018: Payment terms expand amid positive economic expectations
This is the first corporate payment survey in Turkey aiming at indicating how payment terms stand in different sectors, how companies manage credit management practices and evaluate future payment experiences. The data collection was conducted in January and February 2018 through phone calls with 2615 companies in 81 cities. While 73% of respondents said they sold with credit terms to their clients, 35.3% of them mentioned they do not have a department responsible for credit management. Only 0.1% said they have a department in charge of trade receivables management.
The average payment term for companies stood at 121 days. Large companies (having a total employee number of more than 250 people) are able to offer their clients longer payment terms, mainly due to their wider financial means. The maximum payment term offered by companies to their clients stood at 147 days. 46.1% of companies said their clients who paid them by check asked to extend the payment periods by a new check at the end of the payment term. The average payment delay after the initial payment term stood at 133 days.