Before the licence application is decided, the applicant must provide an unconditional bank guarantee in favour of the Authority, in the amount and for the term it specifies, within 15 days after notice; otherwise the application is deemed not to have been made. The Authority may draw on the guarantee to discharge any obligation of the Licensee. Following a draw, the Licensee must restore its value within 30 days after notice. The Authority may also forfeit it where the Licensee breaches a licence condition or obligation. A licence may be renewed only if the bank guarantee satisfies the conditions and remains at the amount set when the licence was issued.
Interpretation and application must be checked against the official Arabic text and the current version.