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Verifying arithmetic circuits and most prominently multiplier circuits is an important problem which in practice still requires substantial manual effort. The currently most effective approach uses polynomial reasoning over pseudo boolean polynomials. In this approach a word-level specification is reduced by a Gröbner basis which is implied by the gate-level representation of the circuit. This reduction returns zero if and only if the circuit is correct. We give a rigorous formalization of this approach including soundness and completenes