Announcement – Risk Management Instruments validity

Podgorica, Montenegro, 26th of October, 2015

Notice: 

In order to participate in yearly auctions for 2016 Auction Participants’ Risk Management Instruments (Bank Guarantee or Deposit) have to be valid at least until 24th of October 2016. Therefore, SEE CAO urges all Auction Participants who intend to participate in yearly auctions for 2016 to extend validity of their Risk Management Instruments at least up to above mentioned date. In order to cover all Auction processes for 2016 (meaning yearly, monthly and daily auction processes) Risk Management Instruments should be valid until 23rd January 2017.

• For extending of Deposit contract, Auction Participant should send to SEE CAO properly filled template of Annex of deposit contract. On receipt of signed Annex, deposit validity will be updated in auction platform;
• For extending of Bank guarantee, Auction participant should send to SEE CAO amendment of bank guarantee, with new validity period stated, in original verified by signature through SWIFT, or issued through SWIFT to SEE CAO by 12:00 CET on the last Working Day before the day of the Yearly Auction;