UCI CYCLING REGULATIONS  Advance registration  2.16.022 Any new team seeking UCI ProTeam status may request advance  bis registration for the following season before the registration procedure opens.  2.16.023 Each UCI ProTeam shall furnish the UCI with a first-demand (abstract) bank guarantee  in accordance with the model in article 2.16.054. The guarantee shall be drawn up in  English by a banking institution able to issue, either directly or through a correspondent  bank, a SWIFT message to the UCI bank [UBSWCHZH12A].  1.  to defray debts related to the registration year, in accordance with the procedure  set out below, incurred by the paying agent and the sponsors towards riders  and any other person hired for the operation of the UCI ProTeam or the team  applying for UCI ProTeam status in consideration of their services for the  operation of the UCI ProTeam;  2.  to cover the payment of any outstanding fees, expenses, indemnities, fines,  penalties and charges imposed by or in virtue of the UCI regulations or related  to their application.  2.16.023  For the application of provisions regarding the bank guarantee:  a  1.  The following are considered as debts incurred in consideration of services by  the licence-holder for the operation of the team:  - at the moment of the request to draw on the bank guarantee: unpaid sums  due under contract;  - in case of breach of the contract: sums due under contract not exceeding  those corresponding to services anticipated within the remaining period of  the contract. These sums constitute a contractual debt at the moment of  the breach of the contract;  - late payment interest on the sums mentioned above up to a maximum of  5%.  The following are not considered as debts incurred in consideration of services  by the rider for the operation of the team, in particular:  - other benefits in case of breach of contract, prize monies, legal fees and  costs of proceedings.  E170421  ROAD RACES  253  The purpose of that bank guarantee is intended for:  The bank guarantee must be established by the paying agent and submitted by the  issuing bank on behalf of the paying agent.  (article introduced on 1.06.14).  Bank guarantee  Advance registration will be granted by the UCI administration on the basis of the  essential documents described in Art. 2.16.014bis and the budget mentioned in Art.  2.16.014, submitted to the auditor by the new team requesting UCI ProTeam status.  Any new team that has been granted advance registration remains subject to the  evaluation requirements and deadlines scheduled by Articles 2.16.013 and 2.16.014. A  dossier that is considered insufficient will be sent to the Licence Commission which shall  give a ruling on whether to cancel the registration in accordance with the procedure of  Art. 2.16.017.  (text modified on 20.10.05; 1.07.10; 1.05.17; 1.01.18). 