ABTOT is proud to announce the relaunch of its ATOL Franchise scheme, offering a range of new solutions to meet the evolving needs of the travel industry.
Since March 2017, ABTOT’s members were granted Franchise ATOLs supported by bonds, and now, it is expanding its offerings to include multiple solutions.
In a significant development, ABTOT becomes the first ATOL Franchise to accept a hybrid solution combining trust /Escrow Accounts and bonds. ABTOT is also the only Government Approved Body to provide a bonding scheme and an ATOL Franchise.
These solutions are designed to cater to the requirements of larger SME ATOLs, including existing ATOL Holders who segregate customer funds, who are looking for greater flexibility through an escrow Accounts. , as well as SME Travel Organisers seeking alternatives to the SBA ATOL.
ABTOT can offer ATOL Franchise Membership supported by an unsecured bonding solution from an insurer or a secured bonding solution from a bank with the applicant charged an annual premium based on their financial strength. Applicants’ suitability will depend on their requirements and companies’ financials.
Moreover, ABTOT’s Trust and Escrow Accounts usher in a new era of streamlined processes, underpinned by a seasoned team and a cutting-edge reporting tool. This tool, meticulously designed for bespoke solutions, offers comprehensive data analysis and reporting, rendering licensable transactions and Civil Aviation Authority reports not only manageable but reliable. The addition of intuitive dashboards enhances visibility for ATOL Holders, empowering them to navigate claims management with ease.
Central to ABTOT’s hybrid solution is the Escrow Account bolstered by an insurance-backed bond, providing ATOL Holders with unprecedented flexibility in managing supplier payments. In collaboration with PT Trustees, ABTOT’s Trust and Escrow Accounts signify a robust partnership aimed at redefining industry standards.
Samantha Bradbury Membership Director ABTOT says
“These new solutions have been in planning for a few months, and we are really proud that ABTOT is launching a CAA approved hybrid solution”
Sudheer Sharma, CEO & Trustee PT TRUSTEES LTD says
“We are really pleased to confirm that we are working in partnership with ABTOT, and that our Trust and Escrow arrangements have been accepted by the ABTOT ATOL Franchise. With our experienced team and bespoke reporting tool, we aim to offer ABTOT Members peace of mind, knowing that their transactions are managed with care and transparency.”
About ABTOT
ABTOT is a Membership Association with over 300 Members and is recognised and respected within the UK Travel Industry. As an Approved Body, appointed by the UK Government Department for Business and Trade, ABTOT operates a regulated financial protection bonded scheme for Travel Organisers who need to comply with UK Travel Regulations.
ABTOT remains focused on providing straight forward and cost-effective bonding solutions to the Travel Industry focused on expanding its services and Membership as more and more Travel organisers are looking for alternative insolvency protection solutions.
About PT TRUSTEES
PT Trustees Limited (“PTT”) was established by Sudheer Sharma in 2012 following an unrivalled career in Travel Trusts dating back to 2001. PTT’s team of over thirty people possesses vast knowledge of Trust and Escrow arrangements. The team based in a number of countries provides a valued service to nearly 100 clients, with businesses in a wide range of sectors and locations around the world.
PTT’s bespoke software system provides leading edge and AI enabled tailored solutions that manages client data at a granular level, minimising client’s workload, whilst assessing and reporting risk to clients and stakeholders.