Travel and Tourism Services Regulations [En]

The amount of the financial guarantee shall be determined pursuant to a decision of the Minister or his designee, provided that said guarantee does not exceed 2 million riyals, as well as the required class for which the guarantee shall be paid for obtaining the license. The following amounts shall be deducted from the financial guarantee referred to in Article 13 of these Regulations: a. Fines imposed on the licensee in accordance with the provisions of the Law. b. The tourist’s financial rights resulting from the services provided thereto by the licensee. c. Compensations for any damage resulting from the services provided by the licensee. The fine imposed on the licensee referred to in Sub-paragraph (a) of this Article shall be deducted 45 days following the date of his notification thereof. The financial rights and compensations referred to in Sub- paragraphs (b) and (c) of this Article shall be deducted 24 hours following the date of notifying the licensee to pay same. In the event of a shortfall in the financial guarantee referred to in Article 13 of these Regulations, the licensee shall cover such shortfall within a period not exceeding 30 days. Subject to the provisions of Article 14 of these Regulations, the financial guarantee shall be revoked at the request of the licensee upon the Ministry’s approval, in the event of cancelling his license. Chapter Five: Ongoing Obligations Chapter Five: Ongoing Obligations