Terms & Conditions
GENERAL TERMS AND CONDITIONS FOR EXHIBITORS AT “SOFIA ART FAIR” CONTEMPORARY ART EXHIBITION
These General Terms and Conditions are established by Sofia Breathes Foundation (Фондация „София Диша“), UIC 176472079, registered office: 4 Kapina Str., Bistritsa Village, Sofia, in connection with the annual “Sofia Art Fair” Contemporary Art Exhibition, and are applicable to persons acting as Exhibitors within the meaning of these General Terms and Conditions. Unless otherwise explicitly provided in a separate agreement between the parties, these General Terms and Conditions shall be the sole agreement between Sofia Breathes Foundation and each Exhibitor in connection to the Exhibition.
I. Definitions
Unless otherwise explicitly provided, the terms and expressions below have the meaning provided in these General Terms and Conditions in their entirety:
1. “General Terms and Conditions” means these General Terms and Conditions applicable to the relationship between the Organiser and the Exhibitors, relating to the registration, participation eligibility, Exhibitors’ attendance at the Exhibition and the display of their Works of Art at the Exhibition.
2. “Organiser” means Sofia Breathes Foundation, UIC 176472079, registered office: 4 Kapina Str., Bistritsa Village, Sofia.
3. “Exhibition” means the overall implementation of a cultural mass event – “Sofia Art Fair” Contemporary Art Exhibition, organised by the Organiser, during each day and throughout the entire duration thereof – from 03.10.2024 until 06.10.2024, from 11:00 until 22:00, at: “John Atanasoff” Innovation Forum, Sofia Tech Park, 111D Tsarigradsko Shose Blvd., Sofia.
4. “Exhibitor” means the persons who have submitted a registration form and who have been admitted to the Exhibition by the Organiser in order to present one or more Works of Art, either their own or of other authors, in accordance with the application thereof and the Organiser’s requirements.
5. “Applicant” means the persons meeting the requirements provided in the General Terms and Conditions, who have expressed their interest in being exhibitors but have not yet submitted a registration form, or who have submitted a registration form but the application thereof has not been considered by the Organiser’s jury yet.
6. “Work(s) of Art” means each and every work of visual art created by an Exhibitor and/or another person who has duly authorised the relevant Exhibitor.
7. “Territory of the Exhibition” means “John Atanasoff” Innovation Forum, located at: Sofia Tech Park, 111D Tsarigradsko Shose Blvd., Sofia, together with the adjacent and common parts, and the site infrastructure in front of “John Atanasoff” Innovation Forum.
8. “Exhibition Space” means the designated area of the Territory of the Exhibition where Exhibitors may display a certain number of Works of Art by certain authors at dedicated booths.
9. “Sofia Tech Park” means Sofia Tech Park AD, UIC 202099976, registered office: fl. 2, G111 Tsarigradsko Shose Blvd., Mladost District, Sofia.
10. “Internal Rules” means the General Terms of Use for the events halls in “John Atanasoff” Innovation Forum and “Laboratories” buildings located in Science and Technology Park Complex – Sofia, adopted by Sofia Tech Park, and which shall be presented to the approved Exhibitors by the Organiser.
11. “Website” means the Organiser’s website: www.sofiaartfair.art.
12. “Force Majeure” means each and every unforeseen and/or insurmountable event beyond the Organiser’s reasonable control which affects the Organiser’s ability to duly fulfil any of its obligations hereunder. Such events are, but not limited to: strikes, riots, acts of terrorism, fires, explosions, floods, government restrictions, lock-downs, transport bans, border closures, and any other events beyond the Organiser’s control. For avoidance of doubt, any unilateral actions by any of the Organiser’s contracting parties, justified or not, that hinder, obstruct or delay the fulfilment of an obligation by the Organiser hereunder, shall be considered Force Majeure.
II. General Provisions
1. The Organiser organises the Exhibition for the purpose of providing a platform for galleries, visual artists, creative teams, art specialists, curators, and art dealers, to establish connections between collectors, museums, a wide international audience from all over the world, and to present them with the current trends in contemporary art.
2.1. These General Terms and Conditions shall settle the rights and obligations of the Organiser and each Applicant/Exhibitor regarding the applications for participation, attendance and access to the Exhibition organised and implemented by the Organiser.
2.2. The Organiser undertakes that the Exhibition shall be in compliance with the law, principles of good faith, and the criteria and standards adopted in practice, consumer and/or commercial law.
2.3. The General Terms and Conditions shall be available to all Exhibitors and third parties on the Website.
2.4. The General Terms and Conditions shall be applicable to Applicants and duly registered Exhibitors, their employees, sub-contractors or other persons engaged by an Exhibitor for the provision of a specific service and/or other cooperation in connection with the Exhibition.
3. The Organiser reserves the right to amend or supplement the General Terms and Conditions at any time. In this case, the Organiser shall make the necessary effort to distribute e-mail communication containing the updated version of the General Terms and Conditions in due time, and upload it on the Website, if possible.
4. In case of Force Majeure, the Organiser shall have the right to change the start date of the Exhibition, shorten/extend the period or cancel the venue, suspend or split the event in individual parts.
5. Each Exhibitor shall:
5.1. Strictly observe these General Terms and Conditions.
5.2. Strictly comply with the Internal Rules of Sofia Tech Park (to be provided by the Organiser) and any primary and secondary legislation relating to the activity thereof in connection to the Exhibition.
5.3. Ensure compliance with the obligations under item II.5.1. and II.5.2 by all representatives, employees, assistants and/or other persons engaged by them in connection with the Exhibition.
5.4. In case an Exhibitor does not perform any of its obligations hereunder, the Organiser, in addition to the other rights granted herein, shall have the right, depending on the time of the non-performance: (i) if prior to the start date of the Exhibition – to deny access to the Exhibitor and/or their Works of Art; if during the Exhibition – to dismiss the Exhibitor and/or their Works of Art. The Organiser shall have the right to require cooperation by the in-house security officers of Sofia Tech Park and/or the law enforcement authorities for the removal of an Exhibitor, their Works of Art and/or other offenders on the Territory of the Exhibition.
III. Applicant Registration
1.1. Applicants must be legal persons or licensed natural persons of legal capacity according to Bulgarian legislation, who meet one of the following conditions:
a/ a commercial contemporary art gallery – a physical space with central or partial focus on authors and works of contemporary art, carrying out business activity
b/ project space for contemporary art – a physical space functioning on project basis, regardless of whether it carries our business activity or not, which aims to sell contemporary works at the Exhibition
c/ art team – a team of minimum two visual artists and/or a curator, art specialist, art dealer
d/ independent emerging Bulgarian visual artists up to 30 years of age
Applicants must fill in a registration form (hereinafter referred to as the “Application”) available on the Website. The Application charge shall be EUR 10, payable to the Organiser by the Applicant according to the procedure described in item III.
1.2. The following information shall be provided in the Application:
a/ information about the Exhibitor: full name, country of origin/country of registration; identification numbers, permanent address/registered office, UIC, VAT number (if applicable)
b/ information about the Authors (name, biography, portfolio) and the Works of Art (title, technique, year of creation) that the Exhibitor wishes to display
c/ valid contact details – address, phone number, e-mail, and other information at the Organiser’s discretion
1.3.1. Works of Art specified in the Application must be original.
1.3.2. The Organiser shall not allow reproductions at the Exhibition.
1.3.3. The Organiser shall not require that the Authors of all Works of Art presented by an Exhibitor be alive as at the Application date, but Works of Art must qualify as Contemporary Art.
1.3.4. The Organiser shall not allow for more than one gallery to represent a single Author.
1.4. Exhibitors shall, at their own discretion, insure the Works of Art presented for any possible risks, including but not limited to theft, fire, flood, etc. for the Exhibition period. The Organiser may require proof of insurance at any time. The Organiser shall not be responsible for the storage or preservation of the Works of Art, equipment and other property of individual Exhibitors.
1.5. The Application fee provided in item III.1.1. shall cover the consideration service which shall be considered provided with the consideration of the Application by the Organiser, regardless of the end result – denial or confirmation.
2. The filled-in Application must be submitted via the specified buttons on the Website, indicating that by pressing them the Application shall be considered submitted. The Organiser shall only consider Applications containing the necessary information and for which the fee under item III.1. has been paid. Acceptance of the Application by the Organiser shall be certified by an automatic message and/or e-mail to the relevant person.
3. Within 14 days of receipt of a duly submitted Application and fee, the Organiser shall send an e-mail to the Applicant confirming whether it has been approved, denied or partially approved (regarding individual Works of Art). The Organiser shall send this e-mail to the address specified by the Exhibitor in the Application. The e-mail message shall also inform the approved Exhibitor about:
a/ the following stages, agreement execution, training meetings, etc.;
b/ the necessary exhibition area for displaying the approved Works of Art;
c/ the participation fee determined according to item IV.1. herein.
4. By submitting a form to the Organiser, the persons explicitly agree with these General Terms and Conditions and represent that they shall comply with them.
5. The Organiser shall make a decision for the admission of an Exhibitor only considering the Artists contained in the Application. The Organiser reserves the right, freely and at its own discretion, to deny access to the Exhibition to any Exhibitor, require additional information, including but not limited to the Works of Art and the Authors thereof, discuss amendments in the list of presented Works of Art and Artists. The presentation of Artists and/or Works of Art not included in the Application and/or not approved by the Organiser shall be expressly prohibited.
6. Following the confirmation under item III.3. herein, the Exhibitor shall pay the fee under IV.1. within the period specified in item IV.3. below. By virtue of the Organiser’s confirmation specified in item III.3. and due payment of the fee specified in item IV.1. by the Exhibitor, a contractual obligation shall arise between the two, having the terms, rights and obligations defined herein, unless otherwise explicitly agreed in addition by the parties in writing.
IV. Financial Terms
1. Besides the Application consideration fee specified in item III above, the approved Exhibitor must also pay a participation fee based on the exhibition area necessary for display of the approved Works of Art. Participation fees shall be determined according to the following price list and shall be applicable to Exhibitors – galleries, art teams
Exhibition Space – 5 sq. m. / Participation fee – 1000 euro
Exhibition Space – 10 sq. m. / Participation fee – 1800 euro
Exhibition Space – 14 sq. m. / Participation fee – 2300 euro
Exhibition Space – 20 sq. m. / Participation fee – 3000 euro
1.1. The participation fee includes Exhibition Space for the time of booth installation, assembly, setting-up, placing Works of Art prior to the Exhibition, the duration thereof, and for the time necessary to remove the booth, disassemble, dismantle and uninstall the Works of Art.
– Exhibition panels and floor with the dimensions specified in the Application;
– lightning (50W LED, at 1.5 m intervals);
– access to electricity;
– sign;
– baseboard.
All prices are in EUR, VAT exclusive.
1.2. The Organiser reserves the right to unilaterally increase the prices in case of increase in the Exhibition organisation and implementation costs, including costs to contracting parties, advertising, marketing, remuneration, taxes, fees, etc. If such an increase is necessary, Exhibitors and third parties shall be informed in advance.
1.3. If, subsequently, the Organiser is required to provide Exhibition Space which is smaller than what has already been requested and paid by the Exhibitor, the price difference shall be refunded.
2. The Organiser shall provide information about the exact participation amount payable by the Exhibitor and the payment method together with the confirmation of the Application under item III.3.
3.1. The Organiser has determined that 30% of the amount under item IV.1. shall be payable within 14 days following the receipt of the confirmation under item III.3., or following the execution of an agreement between the Exhibitor and the Organiser – whichever occurs later.
3.2. The Organiser has determined that the remaining 70% of the amount under item IV.1. shall be payable by the Exhibitor by 31.07.2024, unless otherwise explicitly agreed by the Organiser and the Exhibitor.
3.3. In case of delayed payment, the Organiser shall have the alternative right to:
3.3.1. claim interest from the Exhibitor in the amount of the statutory default rate, which shall not limit the Organiser to claim other damages and costs in larger amounts borne as a result of the delay.
3.3.2. unilaterally terminate the contractual obligations with the Exhibitor and deny the provision of Exhibition Space.
V. Provision of Exhibition Space
1.1. Exhibition Space shall be granted to Exhibitors by the Organiser after the relevant participation fee has been paid. Exhibitors shall not have the right to choose specific area and/or location on the Territory of the Exhibition – this shall remain entirely at the discretion of the Organiser.
1.2. The Organiser shall notify the Exhibitors in advance about the time before and after the event that will be available for booth installation, assembly, display of Works of Art, booth removal, dismantling, disassembling and removal of Works of Art.
2. The Organiser reserves the right, at its own discretion, to change the distribution of Exhibition Space available to individual Exhibitors and Works of Art thereof, and to change the dimensions of the space provided.
3. The Organiser shall explicitly inform any Exhibitor who may not be provided with Exhibition Space due to reasons beyond the Organiser’s control. In this case, if the Organiser is unable to provide an acceptable alternative to the Exhibitor, the former shall refund the payment and the latter shall not participate in the Exhibition.
4. Approved Exhibitors hereby represent that they understand that during the use of the Territory of the Exhibition, respectively – the individual Exhibition Space, the Internal Rules agreed by the Organiser shall be applicable and approved Exhibitors shall observe them insofar as they are applicable to them and/or the persons employed by them and/or otherwise engaged to cooperate with the Exhibitor.
VI. Assembly of the Exhibition Space
1.1. The Organiser and the Exhibitor shall additionally agree a convenient time for handing-over the designated Exhibition Space. The Exhibition Space may be prepared by individual Exhibitors on the days and at the time specified by the Organiser according to item V.1.2.
1.2. The provision of Exhibition Space by the Organiser shall include:
– Exhibition panels with the dimensions specified in the Application;
– lightning (50W LED, at 1.5 m intervals);
– access to electricity;
– sign;
– baseboard.
2.1. Any additional conditions, such as additional technical installations, additional space for extra large Works of Art, must be communicated and discussed with the Organiser. Individual Exhibitors shall additionally agree with the Organiser regarding the supplementary equipment that may be provided and the opportunity to bring personal equipment.
2.2. Any additional technical equipment, partition panes, lightning, etc. not supplied or approved by the Organiser shall not be allowed.
2.3. Exhibitors shall make sure and guarantee that the design of Exhibition Spaces does not violate the law, these General Terms and Conditions and/or any additional instructions by the Organiser.
3. In case an Exhibitor has hired a third party for assistance during the preparation of its Exhibition Space, the Organiser must be explicitly notified.
4.1. The Organiser reserves the right to perform inspections, following the preparation and installation of the Exhibition Space and prior to the start of the Exhibition, and, at its own discretion, demand changes to the organisation of the Exhibition Space or Works of Art, or removal thereof. Any amendments to the Exhibition Space must be agreed with the Organiser.
4.2. The Organiser reserves the right to demand the removal of Works of Art which may cause serious concern at the fair or jeopardize the safety of Exhibitors and guests due to odour, noise, other emissions or the appearance thereof.
4.3. The Organiser may also request removal of items by the Exhibitors if Works of Art that have not been listed in the Application and/or have not been accepted during a subsequent inspection have been displayed.
4.4. Display and presentation of Works of Art on floor panels, hanging from the ceiling, on heaters, etc. shall be prohibited.
5. Exhibitors may display advertising materials only within the designated Exhibition Space. In any case, the advertising materials (business cards, leaflets, artist catalogues) displayed in the Exhibition Space must be agreed with the Organiser.
6. Exhibitors agree that after the end of the Exhibition they shall leave the Territory of the Exhibition and hand-over the Exhibition Space to the Organiser in the condition it was provided.
7.1. The Organiser determines and the Exhibitor hereby agrees that the following technical items shall be allowed for the preparation of the Exhibition Space:
Chipboard screws (No 3 – 4.5 mm; min. depth in panel – 15 mm; max. depth – 40 mm.) for fixing Works of Art.
Removable adhesives (Blu Tack, etc.)
7.2. The Organiser determines and the Exhibitor hereby agrees that the following technical items shall be allowed for the preparation of the Exhibition Space to a limited degree:
Pencil (small marks, short lines)
Labels – must be attached via easily removable adhesives (indicated above) and fully removed prior to the dismantling of exhibition modules.
The Organiser determines and the Exhibitor hereby agrees that the following technical items shall not be allowed for the preparation of the Exhibition Space:
Panel pins, nails
Any pens or markers
Any means not listed in item 1 and 2 above
Any filler material for the gaps between the elements
Any paint (colour) (unless approved or agreed with the Organiser)
VII. Media Services and Promotion of Exhibitors
1.1. The Organiser shall provide a variety of media services to Exhibitors for the purposes of promotion available at their request, namely:
– Internet platforms with images and information about the Exhibitors;
– exhibition catalogue.
1.2. Exhibitors may choose between one-page or multi-page entry in the catalogue. A total of one image, address and logo per Exhibitor may be printed on one page. A double sheet may include a total of one image, one text and address.
1.3. At the request of the Exhibitor, additional pages of the exhibition catalogue may be booked. This service shall be payable additionally based on a price list which shall be discussed at the time of the request.
1.4. For this purpose, the Exhibitor shall provide the image on time and in suitable printable format (digitally, through the online platform), together with the texts to be printed (also digitally). Should this not be provided by 31.07.2024, the Organiser shall have the right to exclude the information about the Exhibitor from the catalogue.
1.5. By sending images and text, Exhibitors guarantee that they hold the necessary rights and submit them to the Organiser for the purposes of publication in the catalogue or the Internet platform. Exhibitors also guarantee that images and text do not infringe upon any other third party rights. In case the Organiser incurs costs or other type of damages due to third-party claims relating to the rights to the images and text, the Exhibitor shall compensate the Organiser in full, including for any costs and legal fees.
1.6. For the Internet platform, Exhibitors must provide an image and text in suitable digital format explicitly defined by the Organiser.
1.7. By sending images and text, the Exhibitor represents and warrants that it holds all necessary rights acquired from the artist and/or photographer, in order to allow the Organiser to reproduce, distribute, make publicly accessible on the internet and publish the images and text via any printed or online media in art magazines, art advertisements, press releases, etc. In case the Organiser incurs costs or other type of damages due to third-party claims relating to the rights to the images and text, the Exhibitor shall compensate the Organiser in full, including for any costs and legal fees.
2.1. The Organiser may provide various advertising services, including via newsletter, social networks, and podcasts. If an Exhibitor wishes to utilise any of those services, it has to explicitly notify the Organiser within 14 days of the participation confirmation.
2.2. The fee for this supplementary PR package shall be EUR 350, where the payment method shall be additionally defined by the Organiser.
The Organiser shall have the right to photo and video recording on site for the purposes of promoting the Exhibition. The Organiser hereby represents that, when using images and video, personal data shall be collected, processed and stored in accordance with the provisions of the Personal Data Protection Act and the General Data Protection Regulation (Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016).
3.2. By accepting these General Terms and Conditions, Exhibitors grant their explicit consent to be photographed and video-recorded and agree that those images and video recordings can be used for Exhibition marketing and promotion purposes.
3.3. Exhibitors agree to obtain consent under item VII.3.2. from the persons employed and/or otherwise engaged by them.
VIII. Representations and Warranties by the Exhibitor
By confirming these General Terms and Conditions and entering into a contractual relation with the Organiser in connection with the Exhibition, the Exhibitor hereby represents and warrants that:
1. It has the proper license and legal capacity to enter into the agreement incorporated in these General Terms and Conditions;
2. It holds all relevant copyrights and other intellectual property rights, whether its own, licensed and/or assigned, necessary to exhibit any Work of Art admitted to the Exhibition to the public. The Organiser shall have the right to request from the Exhibitor at any time, and the Exhibitor agrees to submit immediately upon such a request (not later than 3 business days) any proof certifying that the Exhibitor fulfils the above warranty.
IX. Liability. Exclusion of Liability.
1.1. The Organiser shall not be responsible for the storage or preservation of the Works of Art, equipment and other property of individual Exhibitors.
1.2. The Organiser shall not be responsible or obliged to insure the Works of Art.
1.3. The Organiser shall not be responsible for damages or other costs that arise, or may arise, for the Exhibitor due to submission of an Application and subsequent denial of participation in the Exhibition.
1.4. The Organiser shall not be responsible for damages incurred by the Exhibitor due to Force Majeure.
2. The Organiser shall not be responsible for damages relating to the life and/or well-being of Exhibitors and the persons employed and/or otherwise engaged by them, unless such damages are due to an intentional act or omission by the Organiser, or gross negligence on its part.
3. Exhibitors and the persons employed and/or otherwise engaged by them during the Exhibition shall be responsible for direct or indirect damages caused to the Organiser.
4.1. Insofar as the Organiser does not bear any responsibility before third parties in relation to damages beyond the usual wear and tear and it has agreed to the instructions for fixing and securing exhibition equipment, in case of a third-party claim for damages or compensation against the Organiser, it may claim those sanctions from the Exhibitors who have inflicted the respective damages.
4.2. According to the third-party obligations assumed by the Organiser, sanctions shall be:
Screws in panel (per screw) – EUR 2
Adhesive fixing pads of any type (foam), unless removed without damaging the panel – EUR 5
Adhesive pads of any type (unless removed without damaging the panel) – EUR 5
Damaged edges – EUR 10
Deteriorated colour – EUR 15
Stickers – EUR 5
Drilled hole with diameter larger than 5 mm – EUR 10
Drilled hole through the panel with diameter larger than 5 mm – EUR 20
Recovery of one side of the panel – EUR 60
Gap between panels – EUR 10
5. In case of Force Majeure, the Organiser reserves the right to require from Exhibitors to bear and pay the respective part of the costs necessary for the preparation of the Exhibition. The amount of costs payable by every Exhibitor shall be determined by the Organiser based on the overall preparation expenditure up to the moment, which shall be distributed among all participants. The Organiser shall submit expenditure information, if necessary.
6. If the Organiser incurs any property and/or non-property damages (including reputational damage) as a result of claims and/or lawsuits by third parties, and/or sanctions by administrative authorities, in connection with any Work of Art exhibited by an Exhibitor, the Exhibitor shall compensate the Organiser for any such property and non-property damages and lost profits, including any legal costs, administrative sanctions, etc.
X. Termination of the Relation with the Exhibitor
1.1. The relation between the Exhibitor and the Organiser shall be established upon confirmation of the Application submitted by the Exhibitor and shall remain effective until the Exhibition Space is handed-over to the Organiser after the end of the Exhibition.
1.2. The Organiser reserves the right to terminate the relation with the Exhibitor early in the following cases:
– death of the Exhibitor or initiation of liquidation/insolvency proceedings against it;
– in case of delayed payment according to item IV.3.3.2.;
– if the Organiser fails to acquire the necessary permits for organising the Exhibition, or implementation thereof becomes impossible, in whole or in part, due to reasons beyond the Organiser’s control;
– if the Exhibitor denies compliance with the Organiser’s explicit written or oral instructions at any time from submitting the Application until the end of the Exhibition;
– if the Exhibitor presents Works of Art or authors that have been exclusively forbidden by the Organiser.
2.1. The Organiser and the Exhibitor may also terminate their relation by mutual consent in writing.
2.2. The Organiser reserves the right to agree to the termination of the contractual relation, on the condition that the provided Exhibition Space shall be available to another Exhibitor.
2.3. If the request for termination is expressed by the Exhibitor, the Organiser reserves the right to apply a 25% penalty of the participation fee specified in item IV.1.
3. If, as a result of Force Majeure, an Exhibitor cancels participation in the Exhibition, it may terminate the contractual relation with the Organiser via due notice in writing sent immediately after the circumstance has occurred or has become known.
XI. Additional Provisions
1. For matters not settled in these General Terms and Conditions relating to the performance and interpretation thereof, the legislation of the Republic of Bulgaria shall apply. Any disputes resulting from these General Terms and Conditions shall be settled by amicable negotiations between the parties. If agreement cannot be reached, disputes shall be brought before the competent court in the city of Sofia.
2. The Organiser and Exhibitors agree that all communications between the parties shall be made in writing, including via e-mail.
2.1. Contact details of the Organiser:
94 Knyaz Boris I Str., Triaditsa District, 1000 Sofia, Sofia Municipality, Sofia Region; contact person: Suna Emel Danaçı; e-mail: office@sofiaartfair.art;
2.2. The Organiser accepts that the Exhibitor’s contact details are those specified in the Application under item III.1.1.
2.3. All communications shall be considered valid if sent to the above addresses. The Organiser and Exhibitor shall notify the other party in case of changes to the addresses and/or contact persons, and in case of non-performance of this obligation communications shall be considered valid if sent to the above mailing addresses.
3. All personal data collected in the Application and during the Exhibition, shall be collected, processed and stored in accordance with the provisions of the Personal Data Protection Act and the General Data Protection Regulation (Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016).
These General Terms and Conditions are approved by Suna Emel Danaçı, CEO of Sofia Breathes Foundation.
Approved by: Suna Danaçı, CEO