Prudent Trader

A real or legal person engaged in trade who is required to have the foresight demanded by their profession. Under the Turkish Commercial Code, the prudent business person standard is an objective standard requiring a trader to show reasonable foresight, care and diligence in its field of activity. Tenderers submitting tenders and contractors concluding contracts are expected to act as prudent traders: examining the tender documents in full, foreseeing risks, calculating prices and planning accordingly, and having any doubts clarified within the period.