Events The event guarantee has been issued for almost 73 million euros – the application deadline is still the end of August

The event guarantee has been granted for more than 150 events, most notably music festivals, concerts, exhibitions and fairs.

Events A total of almost 73 million euros has been granted for more than 150 events, says the State Treasury.

Most guarantees have been sought for music festivals, concerts, exhibitions and fairs.

The guarantee is a pre-commitment to reduce the financial risks of organizing events in the event of an interest rate pandemic.

Recipients of the event guarantee can apply in the autumn for compensation for the actual costs of the event if the event is canceled or held less than intended.

The event guarantee has been available since the beginning of June and can be applied for until the end of August for events held before 7 December.

State Treasury in its press release, some transaction guarantee applications have had to be rejected if any of its conditions are not met.

The conditions for receiving the guarantee are that the turnover subject to VAT for 2019 is EUR 150,000. In addition, the event must be open to the public. Nor can the warranty be granted for events that have been canceled prior to applying for the warranty.

The application for transaction guarantee compensation starts on September 15.

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