http://www.legislation.gov.uk/id/eur/2012/966

http://www.legislation.gov.uk/eur/2012/966/article/115/2012-10-25

Regulation (EU, Euratom) No 966/2012 of the European Parliament and of the Council of 25 October 2012 on the financial rules applicable to the general budget of the Union and repealing Council Regulation (EC, Euratom) No 1605/2002 (repealed)

Regulation (EU, Euratom) No 966/2012 of the European Parliament and of the Council (repealed)

2020-12-11

King's Printer of Acts of Parliament

https://webarchive.nationalarchives.gov.uk/eu-exit/https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32012R0966

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2012-10-25

Regulation

Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council of 18 July 2018 on the financial rules applicable to the general budget of the Union, amending Regulations (EU) No 1296/2013, (EU) No 1301/2013, (EU) No 1303/2013, (EU) No 1304/2013, (EU) No 1309/2013, (EU) No 1316/2013, (EU) No 223/2014, (EU) No 283/2014, and Decision No 541/2014/EU and repealing Regulation (EU, Euratom) No 966/2012

Regulation

PART ONECOMMON PROVISIONS

TITLE VPUBLIC PROCUREMENT

CHAPTER 1General provisions

Section 4Guarantees and corrective action

Article 115Guarantees

Other than in the case of low value contracts, the contracting authority may, if it deems it appropriate and proportionate on a case-by-case basis and subject to a risk-analysis, require contractors to lodge a guarantee in order to:

(a)
ensure full performance of the contract, or
(b)
limit the financial risks connected with payment of pre-financing.

The Commission shall be empowered to adopt delegated acts in accordance with Article 210 concerning detailed rules, including criteria for risk analysis, on the guarantees that are required from contractors.