“The refund of the performance security payment will be drawn entirely from the amount already paid to the City by OSS under the 2022 Host City Agreement, and therefore has no financial impacts to the City’s operating budget,” reads the bulletin. The City notes that the refund to OSS Group is paired with conditions that the money must be used by the company to pay its financial obligations associated with the cancelled event, such as refunding ticket holders, suppliers, and/or event sponsors.
Spain to put on pandemic "Heroes" tribute for Honda Celebration of Light fireworks. Thousands wait for refunds following Vancouver Formula E cancellation. Formula E not coming to Vancouver in 2023, local organizers terminated. In a bulletin issued Friday afternoon, the City of Vancouver states this refund is for the “performance security payment” that OSS Group provided to the municipal government earlier in planning for the 2022 race - before the event, named Canadian E-Fest, was cancelled. Tens of thousands of ticket holders for the cancelled inaugural FIA Formula E race in Vancouver are still waiting for their refunds.īut Montreal-based One Stop Strategy (OSS) Group, the organizers of the failed-to-launch electric-battery car race event, will now be receiving a refund of $500,000 from the City of Vancouver.
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