LATVIA – Tourism
The meeting on 22 November decided to improve the legal and regulatory framework on the rights and obligations of providers of comprehensive and related tourism services, travel agents and travellers by providing clear and proportionate rules on the amount of insurance provided by the tour operator and related tourism service providers, as well as enabling the Consumer Rights Protection Centre (hereinafter CPC) both to request the information necessary for monitoring and to react accordingly in case of non-compliance with the regulatory framework.
The regulations provide for a transition period until 1 July 2023 to allow merchants time to apply their collateral in accordance with the amended requirements (by obtaining a new or additional insurance contract or bank guarantee, if necessary), and until 1 January 2024 to obtain greater financial stability in recovering from the effects of the COVID-19 pandemic.
The new collateral size and liquidity requirements will apply without a transitional period to new traders wishing to register with the base and obtain a licence after 1 January 2023.
Details of the amendments to Cabinet of Ministers Resolution of 26 June 2018. 380 «Regulations on the Procedure for Preparation and Provision of Comprehensive and Related Tourism Services and the Rights and Obligations of Comprehensive and Related Tourism Service Providers and Travellers» are available on the «Legislative Acts».
It is important to emphasise that the Consumer Protection Centre plans to organise information events for travel industry traders in the near future to explain the new requirements, their application and monitoring aspects in more detail.