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Provision of a guarantee
Where the provision of a guarantee referred to in Article 17(5) of Regulation (EU) 2023/956 is required, the guarantee shall be provided by the applicant to the competent authority and shall be registered by the competent authority in the CBAM registry.
Monitoring the guarantee
1. The competent authority granting the status of authorised CBAM declarant shall monitor the guarantee. 2. The authorised CBAM declarant shall ensure that the guarantee is at a level sufficient to cover the number of CBAM certificates that the authorised CBAM declarant would have to surrender in accordance with Article 22 of Regulation (EU) 2023/956 in respect of the imported goods as compared to the estimations made in accordance with Article 5(5), point (g), of that Regulation. 3. The authorised CBAM declarant shall make sure that the guarantee stays at the level referred to in paragraph 2 at any time. 4. The competent authority shall reassess the amount of the guarantee and shall request, where necessary, an adjustment of the guarantee to comply with Article 16 of this Regulation and Article 17(6) of Regulation (EU) 2023/956.
Acceptance of other forms of guarantee
The competent authority shall notify the Commission when accepting other forms of guarantee pursuant to Article 17(5), second subparagraph of Regulation (EU) 2023/956.
Adjustment of guarantee
1. Where the competent authority establishes that an adjustment of a guarantee is necessary to fulfil the requirements in Article 17(6) of Regulation (EU) 2023/956, it shall require the authorised CBAM declarant to adjust the guarantee without delay. 2. A decision to adjust the amount of a guarantee shall be based on the amount of imported goods declared in the customs declaration and other relevant information available to the competent authority. That information shall be made accessible to the authorised CBAM declarant by the competent authority. 3. The CBAM declarant shall provide the adjusted guarantee within a time limit decided by the competent authority which shall not exceed 2 months from the request in paragraph 1 was made. The competent authority shall register the adjusted guarantee in the CBAM registry without delay. 4. The competent authority may extend the period laid down in paragraph 3 where the authorised CBAM declarant provides a reasoned request to that regard. When granted, the extended deadline shall not be longer than 3 months after the request to adjust the guarantee made by the competent authority. 5. Where the authorised CBAM declarant does not provide the adjusted guarantee within the deadline as laid down in paragraph 3 or paragraph 4, as applicable, the competent authority shall initiate the revocation procedure referred to in Article 22.
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