Before beginning mining activities, the entity receiving the quarry authorization or mining concession must provide a financial guarantee (insurance bond for the quarry concession).<\/span><\/p>\n\n\n\n This serves as a security for the obligations tied to the authorization. We provide Online Insurance Guarantees to companies throughout the entire national territory, including the islands. <\/span><\/p>\n\n\n\n The guarantee must be provided when receiving the authorization, along with updated company details and the declarant’s identification. Authorization validity depends on this guarantee. Guarantees for quarries – temporal differences: For quarries authorized before 16.03.2018: it refers to art. 16 of L.R. 44\/1982. For quarries authorized after 16.03.2018: it’s based on art. 14 of L.R. 13\/2018.<\/span><\/p>\n\n\n\n The amount is determined by the authorization measure. It must be submitted within 120 days from the notification of the authorization, extendable by another 90 days under special circumstances.<\/span><\/p>\n\n\n\n Specifications are outlined by the Regional Council, but until new regulations are approved, existing directives will be followed.<\/span><\/p>\n\n\n\n The guarantee amount is regularly adjusted based on the ISTAT index. Accepted Guarantee Forms:<\/span><\/p>\n\n\n\n Contracts last two years from the date of authorization. ISTAT index-based adjustments must be presented biennially, and a new contract established at the end of each period.<\/span><\/p>\n\n\n\n Failing to submit adjustments can lead to activity suspension. In the event of further non-compliance, authorization can be revoked.<\/span><\/p>\n\n\n\n In summary, providing a financial guarantee is crucial to start mining activities. This guide offers a clear overview of the rules and associated expectations.<\/span><\/p>\n\n\nWhy not check out our client testimonials<\/a>? You’ll be surprised to see how effectively we’ve met their needs.<\/span><\/h3>\n\n\n\n
Timing and Presentation Methods<\/span><\/h2>\n\n\n\n
Purpose of the Financial Guarantee<\/span><\/h2>\n\n\n\n
\n
Calculation and Expiry of the Guarantee<\/span><\/h2>\n\n\n\n
How is the Financial Guarantee Defined? <\/span><\/h2>\n\n\n\n
Biennial Adjustments for pre-2018 quarries<\/span><\/h2>\n\n\n\n
\n
Duration and Adjustments<\/span><\/h2>\n\n\n\n
Non-compliance<\/span><\/h2>\n\n\n\n
We are Agents of the only financial company authorized to issue Guarantees and Financial Capacity certifications for the operation of Nautical Schools<\/a>.<\/span><\/h3>\n\n\n