Proof of an insolvency safe guarantee can be provided by depositing money at the local courts in Germany as a surety according to § 232 paragraph 1 BGB. By choosing deposit as proof of guarantee you can create an insolvency safe guarantee in only a few steps.
For proof of guarantee by depositing money as a surety you must first submit an appropriate application to the depositary institution of a local court in Germany. You should note the following:
- The deposit application need not necessarily be submitted to the local court that is in the area your company is based. You are free to choose any local court in Germany.
- Countless local courts in Germany have forms you can download on their internet pages. From the information that is published there you can find out regularly whether the application must be submitted by postal mail or personally.
- By using the leaflet on deposits as a suretyship according to § 7 paragraph 2 number 3 that you can download from stiftung ear, you can fill in the form to apply for a deposit application according to the requirements for an insolvency safe guarantee.
- Prior to sending in your deposit application you should make a copy or scan for your documentation.
- On the application you submit to the depositary institution a so-called Annahmeanordnung (acceptance request) or respectively Hinterlegungsbeschluss (deposit decision) will be sent to you in which you will be asked to pay in or transfer the deposit amount within a specified time frame to the account of the deposit agency. After payment/transfer you will receive a depositing certificate (Hinterlegungsschein), or respectively a receipt of the local court.
► Important: After successful deposit at the local court in Germany please provide surrender authorisation on your business letter paper according to the sample (see last page leaflet) and send this original letter by postal mail to stiftung ear.
Please note that the deposit itself is performed according to the requirements of the individual Federal States’ deposit laws. This can mean that formal, as well as content requirements towards the deposit, can deviate from the procedure illustrated below.
Some local courts in Germany have difficulties implementing deposits as required by(e.g. local court Wuppertal and local court Hamburg). It is therefore recommendable to clarify briefly with the local court prior to submitting a deposit application whether a deposit as proof of an insolvency safe guarantee was able to be performed successfully according to the ElektroG’s requirements before.