UCI CYCLING REGULATIONS  2.17.016 The National Federation shall register the team only if it considers that the documentation  submitted meets all the conditions above and that its budget is adequate for such a team.  2.17.017 For each registration year, a UCI women's or UCI continental team or any team applying  for this status must set up an unconditional bank guarantee (comprehensive guarantee)  in favour of its National Federation, using the model set out in article. 2.17.029.  2.17.018 The purpose of that guarantee shall be:  2.17.019 The minimum total amount of the bank guarantee shall be the higher of:  2.17.020 If the amount of the guarantee under article 2.17.017 is less than the total amount  required under article 2.17.019, an additional guarantee must be set up and submitted  to the National Federation before the UCI Continental team or UCI women’s continental  team or team applying for this status is registered.  2.17.021 If the total contractual benefits increase following the arrangement of the guarantee, the  total sum of the bank guarantee must be increased proportionately. UCI Continental  team or UCI women’s continental teams must immediately notify the National Federation  of this increase, specifying the amount and the reasons.  They must also submit the documents relating to the increase forthwith, including the  additional bank guarantee.  2.17.022 For the first registration year, the guarantee shall be valid from 1 January of the first  registration year until 31 March of the following year. From the second registration year,  and for the following years, the bank guarantee may stipulate that it may be called upon  at the latest as of 1st April of the registration year, including for the sums due in January,  February and March. In any case, the bank guarantee shall be valid until 31 March after  the registration year covered by the guarantee.  (text modified on 1.07.10; 1.01.17).  (text modified on 1.05.17)  For the application of provisions regarding the bank guarantee companies through whom  the licence-holders concerned carry out their activity for the operation of the UCI  Continental team or UCI women’s continental team shall be considered as members of  that UCI Continental team or UCI women’s continental team.  1.  to defray debts incurred for the year of registration, in accordance with the  procedure set out below, incurred by the sponsors and the team representative  to firstly the riders and secondly any other person contracted for the operation  of the UCI Continental team or UCI women’s continental team and to cover the  payment of any fines imposed as a result of the application of the UCI  regulations;  2.  to defray the payment of expenses, indemnities, fines and sanctions or  sentences imposed under or as a result of the application of the regulations of  the UCI or the responsible National Federation or associated with their  application.  - 15% of the total pay due to the riders and other staff (whether employees or  self-employed);  - a minimum sum of EUR 20,000 (twenty thousand euros) – to be indexed by  country in accordance with the UCI table.  E170421  ROAD RACES  277  Bank guarantee 