STO-REISGARANTIE, hereafter referred to as STO, is a foundation which offers an arrangement for travel agencies/organisations to meet the guarantee obligations as required by Dutch and European (EU) law.
A travel organisation which is affiliated with STO and makes use of the travel guarantee arrangement which assures the TRAVELLER that the amounts paid or the booking are safe in case of financial insolvency of this travel organisation. STO covers all TRAVELLERS who have booked with a travel organization that is affiliated with STO, irrespective of their place of residence.
Via a safe third party arrangement the TRAVELLER pays the amount for the booking to an Escrow account from Stichting Derdengelden Certo Escrow, hereafter referred to as SDCE, and not to the bankaccount of the Travel Organisation. SDCE is DNB (the Dutch Central Bank) authorized. This method guarantees the TRAVELLER that his payment is safe. The amount will be released to the bankaccount of the Travel Organisation one day after the travel service has been delivered.
In case the travel organisation is not capable of meeting her obligations, the amount will be transferred by SDCE to STO. STO will make sure that the TRAVELLER is reimbursed and/or repatriated if applicable.
As a TRAVELLER you have to make sure you always pay the amount of the booking to the account of SDCE. Otherwise you do not have this financial guarantee.