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Commission Delegated Regulation (EU) No 1268/2012 (repealed)Show full title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of the European Parliament and of the Council on the financial rules applicable to the general budget of the Union (repealed)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 274Guarantees(Article 190 of the Financial Regulation)
1.By way of derogation from Article 163, advance guarantees shall be denominated in euro or in the currency of the contract they cover.
2.The contracting authority may demand a tender guarantee, within the meaning of this Chapter, representing 1 % to 2 % of the overall value of the contract for supply and works contracts. It shall comply with Article 163. It shall be released when the contract is signed. It shall be retained if a tender submitted by the final date for submission is subsequently withdrawn.
3.A performance guarantee may be required by the contracting authority for an amount set in the tender file and corresponding to between 5 and 10 % of the total value of the contract for supply and works contracts. This guarantee shall be determined on the basis of objective criteria such as the type and value of the contract.
However, a performance guarantee shall be required where the following thresholds are exceeded:
(a)EUR 345 000 for works contracts,
(b)EUR 150 000 for supply contracts.
The guarantee shall remain valid at least until final acceptance of the supplies and works. If the contract is not properly performed the entire guarantee shall be retained.
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