Live blog: What we know so far about the Guarantee Fund

Anna 6 April, 2021 - 6 min. read

As this is still an ongoing process, we will continue to update this blog as more is revealed.

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Earlier this year, the government presented a concept for a guarantee fund for event organisers. That plan has now started to take shape. State Secretary Mona Keijzer says that the cabinet wants to help organisations' if their events are cancelled in the second half of this year due to corona measures.

"Our Dutch events sector is internationally groundbreaking, and we want to keep it that way. Both event organisers and the public are longing for concerts, festivals, a football matches again. But organising an event takes time. The current corona crisis doesn’t just make planning difficult, it also creates uncertainty about how to cover the costs. With the guarantee that this scheme provides, we want to take away that uncertainty...".

Organisers who qualify for the guarantee fund can be reimbursed 80 per cent of the costs they have already incurred. The remainder must then be repaid in the form of a loan. The cabinet expects that festivals and other large events will be able to take place again as of 1 July, which is why the guarantee fund is only aimed at events that take place between 1 July and 31 December 2021.



Update #2

The government has released more information about the application process of the guarantee scheme as well as the additional subsidy. As for the guarantee fund, the government wants to offer the events sector more prospects for festivals this summer. Below we show you what you’ll need to apply for the guarantee fund.

To make use of the guarantee scheme, you will need to register with the RVO at least 3 months prior to your event (for events taking place in July, this limit doesn’t apply). Within 4 weeks the RVO will tell you whether you are eligible for this scheme. You can submit your application through the website of the [Netherlands Enterprise Agency (RVO)]. To do so you must submit the following:

  • Name of the event.
  • Date of event.
  • Name of the organiser.
  • Chamber of Commerce number.
  • Bank account number.
  • Budget of the event (2021).
  • Licence (provisional).
  • Operating lists of the two most recently held editions of the event. These editions must have taken place in the Netherlands (or the Dutch Caribbean) unless it concerns an international sports event.
  • A cancellation insurance policy (miscellaneous coverage) for the edition of the event to be held in 2021.
  • Insurance policies of cancellation insurance (with pandemic coverage) for the two most recently held editions of the event. These editions must have taken place in the Netherlands or the Caribbean unless it concerns an international sporting event.

If, as an organiser, you are eligible to make use of this scheme and your event is prohibited due to governmental restrictions related to Covid-19, you must apply for a subsidy determination to the RVO within 13 weeks of the government’s announcement. You must then provide the following additional information:

  • An overview of the costs incurred (and proof thereof) approved by an accountant (in the event of a subsidy of more than € 125,000) or through a personal statement (in the event of a subsidy of between € 25,000 and € 125,000).
  • A copy of the event permit issued by the municipality concerned.
  • Operating lists of the two most recently held editions of the event. These editions must have taken place in the Netherlands (or the Dutch Caribbean) unless it concerns an international sports event.
  • A cancellation insurance policy (miscellaneous coverage) for the edition of the event to be held in 2021.
  • Insurance policies of cancellation insurance (with pandemic coverage) for the two most recently held editions of the event. These editions must have taken place in the Netherlands or the Caribbean unless it concerns an international sporting event.


Update #1

There are a number of conditions for making use of this allowance, so we’ve listed them below:

What is the guarantee fund?

  • If the government bans events due to Covid-19 and the organiser has to cancel the event as a result, the organiser can make a claim to this guarantee fund.
  • The organiser can receive a maximum of 100% of the costs already made. If the organiser requests compensation for more than 80% of the costs already incurred, the organiser will receive a loan at 2% interest for the remaining part.
  • This scheme has an overall ceiling of € 385 million, which will be distributed in order of receipt of applications.

When does the guarantee fund apply?

  • The guarantee scheme is aimed at events scheduled to take place between 1 July 2021 and 31 December 2021.
  • Events that were/are scheduled before 1 July 2021 and have been moved to a date between 1 July and 31 December 2021 are also covered by the scheme.

Which events are covered by the guarantee fund?

  • The scheme is intended for professional organisers of paid public events. These are festivals, concerts, sporting events and business events such as trade fairs and conferences, whereby the organiser is responsible for organising the event.
  • The event must be organised and take place in the Netherlands.
  • Free events are not covered by the scheme.
  • The scheme also does not apply to organisations that are organising an event for the first time this year.

Fine print of the guarantee fund

  • Fees to the owner of a sports event (international federation or commercial party), fees of foreign artists, depreciation costs and investments in fixed assets are not reimbursed by this scheme.
  • Only events that had cancellation insurance with pandemic coverage in the previous two editions are covered by the scheme.

What are the next steps?

The guarantee fund must first be approved by the European Union, but the scheme will probably be officially published in mid-April. On 1 May the infrastructure at the Netherlands Enterprise Agency (RVO) will open for the submission of applications.

You can also read all the information on the website of the national government(in Dutch).

In any case, we’ll keep a close eye on any and all developments and will inform you when we know more!

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