Swiss Travel Guarantee Fund: Who Qualifies and What You Get
A mandatory protection scheme for Swiss travel agencies to secure customer prepayments if a business becomes insolvent.
The Swiss Travel Guarantee Fund is a mandatory protection system designed to secure customer prepayments in the event that a travel agency becomes insolvent.
Who it's for
This scheme is designed for all licensed Swiss travel agencies. If you are operating a licensed travel business in Switzerland, you fall under this protection framework.
What you get
The fund provides mandatory protection for customer prepayments. In the event that a travel agency faces insolvency, this scheme acts as a safeguard for the money customers have paid in advance, helping to protect their financial interests.
What it costs you
Participating in the fund requires an annual contribution fee. The cost of this fee is based on your business's turnover. To facilitate this, you are required to provide audited financial statements to the issuing body.
The catch to know
The most critical requirement is the necessity of annual renewal. Failure to renew your participation results in the immediate loss of your operating license.
How to apply
- Verify that your business is a licensed Swiss travel agency.
- Prepare your audited financial statements.
- Submit the necessary documentation and fees via the official portal.