Article 38
The accounting officer, in collaboration with the authorising officer responsible, may allow additional time for payment only at the written request of the debtor, with due indication of the reasons, provided that the following two conditions are met: (a) the debtor undertakes to pay interest for the entire additional period allowed, starting from the date on which the payment was originally due at the rate applied by the European Central Bank for its main refinancing operations in euro (the reference rate) plus eight points. The reference rate is the rate in force, as published in the C series of the Official Journal of the European Union , on the first day of the month in which the payment period ends; (b) in order to safeguard the rights of the Transport Community, the debtor provides a financial guarantee covering both the principal sum and the interest.