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Commission Delegated Regulation (EU) No 1268/2012 (repealed)Show full title
Commission Delegated Regulation (EU) No 1268/2012 of 29 October 2012 on the rules of application of Regulation (EU, Euratom) No 966/2012 of the European Parliament and of the Council on the financial rules applicable to the general budget of the Union (repealed)
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Article 165Guarantee for pre-financing(Article 115 of the Financial Regulation)
1.Once the contracting authority has established the need for a pre-financing, it shall assess the risks associated with pre-financing payments, before launching the procurement procedure, taking into account in particular the following criteria:
(a)the estimated value of the contract;
(b)its subject matter;
(c)its duration and pace;
(d)the structure of the market.
2.A guarantee shall be required in return for the payment of pre-financing in the case referred to in the second subparagraph of Article 146(6), or when the authorising officer decides to do so pursuant to paragraph 1 of this Article.
No guarantee shall be required for low value contracts as referred to in Article 137(1).
The guarantee shall be released as and when the pre-financing is deducted from interim payments or payments of balances to the contractor in accordance with the terms of the contract.
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