ABTOT’s preferred method of bonding is a travel bond with Travel & General. However, we will accept bank bonds too where this is felt more convenient by clients. The main difference between the two is that banks generally require security before they will issue a travel bond e.g. cash to be put aside or the financial guarantee secured against property such as the travel organiser’s home. In the past banks were able to offer lower rates than insurance backed bond providers due to the security requirement. However, in recent years insurance backed travel bond pricing has come much more in line with bank rates. Additionally, as insurance bonds still generally have no security requirements, they can provide a much more attractive deal for travel organisers.
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