To ensure such compliance, concessionaires must provide a performance bond guaranteeing the pecuniary obligations contracted before the Technical Council of Civil Aviation (Consejo Técnico de Aviación Civil), for aeronautical services or for the use of airport facilities.
The guarantee may be provided through the deposit of a guarantee bond from the National Insurance Institute (Instituto Nacional de Seguros) or from one of the Banks of the National Banking System (Sistema Bancario Nacional), State bonds or those of its institutions, certified or manager's checks from a bank of the National Banking System (Sistema Bancario Nacional), certificates of time deposit issued by the National Banking System (Sistema Bancario Nacional), cash in the form of deposits to the order of a bank of the same system, presenting the respective slip before the Technical Council of Civil Aviation (Consejo Técnico de Aviación Civil). The guarantees may also be issued by another Bank or guaranteeing Institution, when it has the endorsement of a Bank of the National Banking System (Sistema Bancario Nacional) or of the National Insurance Institute (Instituto de Seguros).
The guarantee may be offered in the currency of the Concessionaire's country of origin, or in United States dollars, provided it concerns a foreign Concessionaire. To calculate the amount of the guarantee, the interbank exchange rate in effect at the close of the day prior to the presentation of the guarantee shall be used. Bonds shall be received at their market value and must be accompanied by an estimate from the National Stock Exchange (Bolsa Nacional de Valores).
No interest shall be recognized on guarantees held on deposit; however, interest accrued by the instruments, up to the moment they are executed, if that were the case, belongs to their depositor.
The term of the guarantee shall be one year, renewable annually, and equivalent to the average billing for services of the two months prior to its granting.
In the case of a new concessionaire, the average of other concessionaires of similar services in its sector shall be used to establish the amount of the guarantee to be granted.
Based on the indicated parameter, the Directorate General of Civil Aviation (Dirección General de Aviación Civil) shall communicate to concessionaires that hold an operating certificate (certificado de explotación) at the time of the publication of this decree, the amount of the guarantee they must provide, and to those who subsequently request an operating certificate.
A delay of two months in the payment of the obligations secured by the granted guarantee shall give rise to its execution, with the Concessionaire being required to provide a new guarantee, under penalty of canceling the operating certificate (certificado de explotación).