The amount of compensation for the event guarantee depends on the actual and pre-announced reasonable expenses of the event. If the event has to be cancelled due to a decision by the authorities or the law, 85 per cent of the pre-announced actual expenses will be reimbursed. From the actual expenses reported by the subcontractor, the payments it has received will be deducted.

If the event has to be organized smaller than intended, the compensation is calculated by subtracting the actual revenue from the actual costs and multiplying the result by 0,85.

The event guarantee is part of the EU's framework aid scheme, so the conditions of the framework aid scheme apply to the payment of compensation. The maximum amount of compensation per company is EUR 1,800,000. In addition, any insurance claims that compensate for the costs of the cancelled event, and the grant granted by the Ministry of Education and Culture for the same event will be deducted from the compensation amount.

The application period for compensation is from September 15 to December 7. Compensation for the event can be applied for after the main organizer of the event has notified the State Treasury that the event has been cancelled or that the event is organized smaller than planned. This notification must be sent to the State Treasury by e-mail tapahtumatakuu@valtiokonttori.fi. In its notification, the event organizer must provide a statement of the prohibition or restriction on the event and the impact of the restriction. An event guarantee is not a guarantee for compensation.

A company may claim compensation for an event guarantee if the following conditions are met:

- The company is the lead organizer or the subcontractor indicated in the event guarantee application in an event for which an event guarantee has been granted.

- The event has been cancelled or arranged substantially smaller based on a law or official decree, and the main organizer of the event has informed the State Treasury.

- The company has incurred costs for the planning or organization of the event for which it has not received payment.

Reimbursable costs are, for example, rent for event venues, artists and programme services, costs for event technology services, sales and rentals, costs for event design, sales and rentals, ticket sales services, planning, consulting and other event services, digital event services, costs of organizing events the event as well as other costs of special services in the field of events.

An event is considered to have been cancelled if it cannot be arranged as planned due to law or government order. An event may also be considered cancelled due to a law or a government order if a restriction preventing the organization is in force for a maximum of 90 days prior to the organization of the event. An event guarantee is not granted for an event that has been cancelled on its own initiative before applying for an event guarantee.

If the subcontractor is not mentioned the guarantee application, the subcontractor is not covered by the event guarantee. Subcontractors cannot be added to the application after the guarantee decision has become final.

Every weekday, updated information on applicants, the subcontractors they have reported and the processing of the application are published on the State Treasury's statistics page. Tilastoja: Tapahtumatakuu - Valtiokonttori

The fourth round of cost support will have its own support programme for large and medium-sized companies, based on which more support could be paid. Take a closer look at https://tem.fi/-/lakiesitys-eduskuntaan-kustannustuesta-uusi-hakukierros-nyt-myos-suurille-yrityksille-korvaus-asiakastilojen-sulkemisesta

Yes, the event guarantee is part of the same framework aid scheme as previous rounds of cost support. If the €1.8m support ceiling is already full, the event guarantee cannot be paid to the company. Even if the main organizer's aid quota is full, the main organizer may nevertheless apply for a guarantee and compensation may be paid under that guarantee to subcontractors for whom a ceiling of EUR 1,8 million has not yet been paid under the framework aid scheme.

A person's working year refers to the workload corresponding to one person's full-time work input per year. A person's working year can also consist of the input of several employees.

Event guarantee covers public events for more than 200 people, which will be held between 1 June and 7 December 2021, which are not year-round in nature and whose event organizer meets the criteria for a professional event organizer.

The event guarantee does not apply to transferred events. However, the event is considered to have been cancelled if it is postponed until the following calendar year 2022.

 

The aim of the event guarantee is to reduce the financial risk of organizing events. An event guarantee is a pre-agreed commitment given to the event organizer for the expenses that have been reported. If the event is cancelled or limited by law or authority, compensation will be paid for the actual expenses incurred. The application round for event guarantee compensation starts on 15 September.

Non-profit associations, and companies with a turnover of less than EUR 150,000 in 2019, cannot receive event guarantee. However, they can receive support from the Ministry of Education and Culture. The application periods and more detailed conditions for supports are published on the Ministry's webpage: Subsidies - OKM - Ministry of Education and Culture, Finland (minedu.fi)

An established, professional event organizer is expected to have a VAT turnover of more than 150,000 euros in 2019. In addition, the company must employ at least one person-year of labour in event activities. A person-year means the amount of work that corresponds to one person's full-time workload per year. A person-year can also consist of the work input of several employees. We also require that the company has organized events in the past and be able to provide examples of these in its transaction guarantee application.

The event guarantee applies to events of at least 200 participants which is open to public, and which will take place between 1 June and 7 December 2021. The guarantee can be applied for by an established, professional organizer of events. The event organizer must have a Business ID, a permanent organization, and a turnover of more than EUR 150,000 for 2019. Typically, an established event organizer has paid staff, but it can also be a sole entrepreneur. The event guarantee covers, for example, art and cultural festivals, concerts and exhibitions, sporting events, music festivals, fairs and similar events that are not organized all year round.

Yes, you can. Each event or concert on the tour must have its own application. This is because the regional restrictions of the Regional State Administrative Agency and the costs and subcontractors of events or concerts may vary depending on the location.