Guarantees to Secure Fulfillment of Obligations of Travel Services Providers
Who are the guarantees intended for?
SMEs, large enterprises and entrepreneurs that hold valid travel services provider certificates granting them the right to engage in outbound and/or local tourism.
How can a guarantee be obtained?
Apply to a financial institution or insurance company that has concluded an agreement with INVEGA.
How does it work?
A travel services provider applies to an insurance company or financial institution that has concluded an agreement with INVEGA for the security of fulfilment of mandatory obligations.
The insurance company or financial institution applies to INVEGA for the provision of a guarantee of security of fulfilment of the obligations of the travel services provider.
INVEGA provides the guarantee of security of fulfilment of obligations to the insurance company or financial institution. If the travel services provider does not satisfy the conditions prescribed by the regulation of provision of guarantees of security of fulfilment of obligations, the insurance company or financial institution is notified about refusal to provide a guarantee.
Following issue of a guarantee by INVEGA, the insurance company or financial institution provides a security of fulfilment of mandatory obligations to the travel services provider.
What documents must a financial institution or an insurance company provide to INVEGA?
1. Valid travel services provider certificate granting the right to engage in outbound and local tourism
2. SME status declaration (if the travel services provider is a large enterprise, a written confirmation of the travel services provider that is satisfies the requirements for the large enterprise status must be provided)
3. Annex 1 to the application to provide a guarantee
4. Declaration of conformity
5. Financial statements of the travel services provider (and, if applicable, companies related to it), which have not been provided to the Centre of Registers:
o For 2019 (applicable to SMEs);
o For 2018–2019 (applicable to large enterprises);
o Intermediate financial statements as of 31 March 2020 or other period, if, based on financial data as of 31 December 2019, the enterprise was experiencing difficulties.
6. Consents to processing of personal data for the purpose of providing the guarantee signed by the travel services provider that is a natural person and by the owner, stakeholder, shareholder(s) controlling the control block of shares and the head of administration for travel services providers that are legal entities.
1. An application to provide a guarantee
2. An internal document (decision) specifying main conditions of performance security