Foreign Trade DepartmentHolder of measures: Foreign Trade Department

A security is an assurance that a sum of money will be paid or forfeited for the benefit of the AAMRD if a particular obligation is not met.

• A security may be given by making a cash deposit. No interest shall be paid to the party giving a security in the form of cash deposit.
• It can be lodged by a bank security as a block bank security ensuring that more obligations are met, or an individual bank security ensuring that one obligation is met. The financial institution that approves a bank security, has to be established in the European Community.
• When the applicant cannot receive a bank security or lodge a security by cash deposit, the Agency determines if some other form of security can be accepted upon the documentation.
• Any charges by a financial institution relating to the security shall be met by the applicant.
• Any form of security can be changed by another form of security, providing that the primary security was forfeitet, but not yet cashed; a replacement is not allowed.

 No security is needed in the following cases:

• When an applicant is a public entity responsible for the implementation of tasks of the public administration, and when an applicant is a private law person performing public tasks on the basis of public authority, concession, etc.
• Where the sum secured is less than 100 EUR and where the value of the sum secured is less than 500 EUR, and if the party concerned shall undertake in writing to pay a sum equal to that which he would have been required to pay had he given a security and that security has subsequently been forfeited in part or entirely. The form »Written statements on obligations to pay the sum forfeited« is a constituent part of the Decree on the implementation of the security system for meeting the obligations, which was published in the Official Journal of the Republic of Slovenia No. 46/2005.

Lodging a security

An applicant shall lodge a security by mail together with his/her application, or by fax (in case of proof on cash deposit transfer). When lodging a bank security in the form of a bank guarantee, an applicant shall use standard forms.

The AAMRD shall approve the security when it is satisfied that it has the amount at its disposal.

Security sum

The applicant is responsible for the correct security sum.  The AAMRD shall decide to accept the security or shall require the replacement of any security which it considers that does not provide cover for a sufficient period.

Release of a security

A security is released when all requirements have been fulfilled, for which the applicant must submit proofs (e.g.: original import or export licences, the single administrative document, check list T5, transport licence T1 and other transport certificates or other proofs).

Forfeiture of securities – in full

A security is forfeited in full when a primary requirement has not been met (the obligation in the licence has not been met) or when the relevant proofs are not submitted within the time limit set for the submission of proofs except in cases of force majeure, however, the total sum forfeited does not exceed 100 % of the sum secured. In the circumstances giving rise to the forfeiture of the security in part, the AAMRD demands that the applicant pays the sum forfeited within 30 days from the day of issue of a claim for payment. In case the applicant does not make payment within 30 days, the AAMRD prepares a call for the guarantor to pay the sum forfeited. When the payment of the security forfeited is made, the Agency releases and repays the security.

Forfeiture of securities – in part

A partial release of the security is made when the applicant submits proofs within the specified period and the obligations stated in the license have been met; however, a secondary requirement has been breached (proofs submitted too late), while the rest of the sum secured is forfeited. In the circumstances giving rise to the forfeiture of the security in part, the Agency demands that the applicant pays the sum forfeited within 30 days from the day of issue of claim for payment. Where payment has not been made within 30 days, the Agency prepares a call for the guarantor to pay the sum forfeited in part. When the payment of the security forfeited in part is made, the Agency releases and repays the security.

A security shall on request be released in part where the applicant submits relevant proofs in relation to the quantity of a product, provided that the quantity is not less than any minimum quantity for which the security is required.

LEGAL BASIS

• EU legal bases;
• Commission Regulation (EEC) No. 2220/85 of 22 July 1985 laying down common detailed rules for the application of the system of securities for agricultural products, considering all changes and amendments and EEG regulations which determine the market organisation for specific agricultural products:
• Decree on the implementation of the system of securities for the fulfilment of obligations related to the measures of the agricultural market price policy (OJ of RS, No. 46/2005))

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