This has not been adopted by the UK as yet however we anticipate that it will be and, as an approved body, ABTOT and ABTOT Members will be required to follow the new guidance.
It is not the suspension of the obligations on you that we had hoped for – but it will alleviate the requirement to pay cash refunds. We urge Members to handle customer requests in a manner that best suits your business but which will also ensure your business remains operational in this challenging time.
The likely advice will be that when providing customer credit instead of offering refunds (which we support to protect your cash flow), please issue a “Refund Credit Note” and allocate it to the original booking information.
Your customer will retain the right for a full refund if, eventually, they do not make use of the Refund Credit Note.
Please note that all Refund Credit Notes will be covered by your ABTOT Bond or ATOL.
Once we have received confirmation that the UK Regulations have changed we will provide further guidance later today or early next week.