Tourism Law in Europe

18 Travel retailer (travel agency) • Obligation to submit declaration to the supervisory institution before services are provided • To ensure that its own capital – public or private limited company – would be not less than ½ of the stated capital quoted in the statutes. • If the legal form is not a public or private limited company, the total financial commitments of the legal person may not exceed its total assets. • Obligation to provide reports to the supervisory institution Vendor of linked tourist service arrangements’ • Obligation to submit declaration to the supervisory institution before services are provided • To provide documents proving security of obligations and the sum of the security • To ensure that its own capital – public or private limited company – would be not less than ½ of the stated capital quoted in the statutes • If the legal form is not a public or private limited company, the total financial commitments of the legal person may not exceed its total assets • Obligation to provide reports to the supervisory institution It should be mentioned that according to national law the requirements for tourism service providers and their activities are based on a declaration, rather than a verification requirement. Such national system should result in sufficient protection of travellers' rights, in cases when tour organiser is certified in Lithuania. The State Consumer Rights Protection