Receipt and depositing of securities
- Permit or other obligation
- Nationwide except the Åland Islands
- Public service
A number of acts, including the Water Act, the Expropriation Act, and the Maritime Act, contain substantive provisions regarding the lodging of securities with the AVI Authorities’ decisions may also give provisions on lodging securities.
The security can take the form of e.g. cash or a joint and several bank guarantee. The security is lodged with the AVI.
Do the following
File a written application with the AVI regarding the lodging of the security. Submit the application to the registry of your local AVI. Attach a copy of the decision issued by the authority or court on the lodging of the security. If no such decision exists, provide an explanation of the reasons for lodging the security.
The application can be completed either in a free format or using the form provided by the AVI.
Ensure that the application includes the lodger’s contact information (name, address, phone number), the security to be lodged and the basis on which this is done, reference information, and, if necessary, further information and a separate billing address.
Transfer the cash security to the AVI’s account. The transfer must be accompanied by the message “security deposit” and other possible identifying information. The AVI’s account numbers can be found on the relevant forms.
If the security is not in cash form, the AVI decides whether it is acceptable. In most cases, a joint and several bank guarantee is another acceptable form of security. The original guarantor's undertaking must be submitted to the AVI.
Once both the application and security deposit have been received by the AVI, the funds are placed in their own bank account. If the security in question is a guarantee, the AVI keeps the original guarantor’s undertaking. The lodger of the security is sent a decision confirming receipt of the security, which also details the conditions for releasing the security.
- Release of the security
The lodger of the security must request, in writing, that the security be released, and present an account of how the relevant conditions are met. The conditions for releasing the security depend on the basis upon which the security has been lodged. For example, some cases require that the lodger of the security deliver to the AVI a statement on the authority's or court's decision becoming legally valid (e.g. Water Act chapter 1 section 17, chapter 11 section 20, chapter 15 section 7, Environmental Protection Act (86/2000) section 69, Environmental Protection Act (527/2014) section 127, and Expropriation Act section 84).
Please note that the release of the security may also be dependent on a decision by another authority regarding the release of the security.
To whom and on what terms
The security must have a basis in the act or decision.
Deadline
The act or authority's decision in question may specify deadlines regarding the security.
Processing time
Approximately one month.
Period of validity
Once lodged, the security remains valid until further notice or as long as required by the act or decision.