REISEGARANTI FOR VÅRE KUNDER
Norwegian Travel Guarantee Fund
The Norwegian Travel Guarantee Fund (the “Fund”) is organized as a private foundation. Its objective is to administer the travel guarantee requirements in Directive 90/314/EEC as implemented in the Package Tours Act.
Pursuant to the Package Tours Act, all organizers of package travels must provide security covering their obligation to refund monies paid and for the repatriation of the consumer in the event of the organizor`s insolvency.
The security is normally given in the form of a bank guarantee, but the Fund may accept other adequate security.
According to the Norwegian Package Act a guarantee is required for three categories of travel arrangements:
1. "package travels"
2. "seat only"
3. Travel arrangements essentially similar to a package travel.
The Fund will cover all valid claims from customers if the security provided proves insufficient to cover the claims.