Guarantee Fund extended for events and cultural sector
It is possible to benefit from a guarantee of up to 150,000 EUR in the event of cancellation, postponement or tonnage restrictions for the organization of events in Brussels.
The context of the health crisis can still lead to cancellations, postponements or gauge restrictions for events. If necessary, the Brussels Guarantee Fund makes it possible, under certain conditions, to cover the organizers in the event of financial loss.
The Guarantee Fund is accessible to any Brussels company organizing an event taking place on Brussels soil. This event must be:
temporary
accessible to the public against payment
organized according to sanitary measures
related to art, entertainment or recreation (including trade fairs and conventions)
For canceled events, the Fund will cover non-recoverable and non-cancellable event expenses up to a maximum of 30% of the overall event budget.
For postponed events, the Fund will cover 90% of expenses that cannot be postponed.
Finally, for events subject to a forced gauge restriction, the Fund will cover 100% of the refunds of tickets to be refunded, linked to the reduction of the gauge in the event of financial losses.
For each of these situations, the ceiling amount of the Guarantee is 150,000 EUR, with a maximum of 750,000 EUR per company if several events of the same company were to be covered by the Guarantee Fund.
Application can be submitted until November 15, 2022. The request must be submitted no later than 1 month before the event. This only concerns events that will take place before March 31, 2023 and whose expenditure budget is at least 25,000 EUR.
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