§ 44. Amount of the travel guarantee
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The text of the law (unofficial translation)
§ 44. Amount of the travel guarantee
The travel guarantee (reisegaranti) shall be sufficient to cover the trader's (næringsdrivende) turnover subject to the guarantee requirement at any given time. When determining the amount of the travel guarantee, account shall be taken of the period between payment of advances and completion of the arrangements subject to the guarantee requirement. Account shall also be taken of how quickly the trader usually passes on the payment to service providers (tjenesteytere).
What does this mean?
The section sets the standard for how large the travel guarantee must be. It must at all times be enough to cover all turnover that has to be guaranteed. Two factors are considered in the calculation. One is the time from when customers pay an advance until the trip is completed. The other is how quickly the trader usually passes the money on to the service providers. The Ministry (departementet) can lay down more detailed rules on the amount in regulations (forskrift) (§ 47). The section builds on the obligation in § 42 and the scope of coverage in § 43.