Subsection 3: Financial guarantee.

Every modelling agency must provide proof of a financial guarantee ensuring, in the event of default on its part, the payment of salaries, their accessories and supplements, compulsory social security contributions and the payment of sums due to the model on the date on which this guarantee is called upon, in respect of the remuneration defined in article L. 7123-6.

The financial guarantee may only result from a guarantee undertaking given by a mutual guarantee company, a collective guarantee organisation, an insurance company, a bank or a financial institution authorised to give guarantees.

If the financial guarantee is insufficient, the user is substituted for the modelling agency for the payment of sums still owed to the employees and to the social security bodies to which these employees belong, for the duration of the service performed on behalf of the user.

The modelling agency shall provide users, at their request, with a certificate from the social security bodies specifying their situation with regard to the collection of contributions due to these bodies.