Guidance for travel Providers

Guidance for travel providers

The Travel Guarantee Fund has made two detailed guidelines for travel providers.

Guidance on registration

This guidance addresses especially travel providers, who are going to be registered in the Fund or who have recently been registered. The guidance concerns practical matters related to registration and gives answers to questions that travel providers often ask in this context. The guidance on registration – in Danish – can be found here.

Guidance for travel providers who are already registered

This guidance describes the reports and payments that must be carried out regularly to the Fund, as well as how The Fund assess it’s risk on the travel providers and the conditions that may incur as a result of the Fund's surveillance of the travel providers. The guidance for travel providers that are already registered – in Danish – can be found here.

In case of bankruptcy

If a travel provider is unable to conduct future travels due to financial difficulties, the Fund must immediately be contacted – contact information can be found here. Outside office hours please call +45 20 70 83 33. A meeting will then be arranged immediately.

Accountant's report

Accountant’s report

Once a year the Fund must receive a report made by the registered or chartered accountant of the travel provider.

The report must confirm the data reported each quarter of the year by the travel provider to the Fund. Furthermore the accountant must confirm three key figures concerning the company (the coverage ratio, liquidity ratio and equity ratio of the company) based on the latest annual report.

The accountant's report must be sent to the Fund with the original signature of the accountant.

The accountant's report must be sent to the Fund together with the presentation of the travel provider's annual report.

For travel providers who are companies this means that the accountant's report must be submitted to the Fund no later than 5 months after the expiry of the financial year.

For travel providers who are private businesses the accountant's report must be submitted to the Fund no later than the 1st of July every year.

The accountant's report - in Danish - can be found here.

 

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The Act

The Fund was established in accordance with the Act of 1979. The latest Act is 1192 of December 8th 2009. The Promulgation of the Travel Guarantee Fund Act can be found here.

To the Act has been made an executive order on registration, provision of security etc. with the Travel Guarantee Fund. It is the Executive Order of Denmark's National Consumer Authority No 1494 of 16 December 2009. The Executive Order can be found here.

The board of directors of the Travel Guarantee Fund consists of one chairman and six members. The board is appointed by the Minister for Business and Growth. The Board has engaged a secretariat to handle administration etc. The Fund's articles and the board's rules of procedure are laid down by the board and approved by the Minister. The articles and rules of procedure - in Danish - can be found here.

Within six months after the expiry of a calendar year the Fund renders an annual account, audited by the National Audit Office of Denmark (Rigsrevisionen). The latest annual report - in Danish - can be found here.