Article 7 3.

The financial guarantee or equivalent insurance shall be established by the notifier or by another natural or legal person on behalf of the notifier and shall be effective at the time of notification or, if the competent authority which approves the financial guarantee or equivalent insurance so allows, at the latest at the time of completion of the movement document in accordance with Article 16(2). The financial guarantee or equivalent insurance shall apply to the shipment at the latest from when the shipment starts.