Single chapter: Sale of travel and holidays.

The financial guarantee provided for in a of II of article L. 211-18 is the result of a written guarantee undertaking given : 1° Either by a collective guarantee body with legal personality, by means of a guarantee fund set up for this purpose; 2° Or by a credit institution, finance company or insurance company authorised to provide a financial guarantee; 3° Or by a group of non-profit-making associations or…

The operating conditions of the collective guarantee body mentioned in article R. 211-26, in particular the conditions of membership, resignation, control over members, granting, withdrawal and implementation of guarantees, are set by the statutes and internal regulations of this body, which are submitted for approval to the Minister for Tourism and the Minister for the Economy and Finance.

The financial guarantee provided by a credit institution or an insurance company is only accepted if this institution or company has its head office in the territory of a Member State of the European Union, or a State party to the agreement establishing the European Economic Area, or a branch in France. In all cases, this financial guarantee must be immediately available to ensure the repatriation of passengers under the…

When the financial guarantee results from membership of a group of associations or non-profit organisations registered in the register referred to in article L. 141-3, the association or non-profit organisation must hold in its books a certificate in which the guarantor undertakes to take the place of the defaulting association or non-profit organisation for the settlement of claims and the possible repatriation of members. The association must bring this certificate…