ABTOT is suitable for both professional and occasional travel organisers and offers protection for non-licensable turnover.
This includes any packages which do not include a flight element as part of the package. No two ABTOT members are alike but what they share is:
What we are unable to accommodate:
We require our prospective members to comply with the following requirements:
ABTOT require members to act in a financially prudent manner. On joining, ABTOT would expect a member to reverse losses incurred, normally within 2 years. Travel organisers must meet their debts as they fall due. Financial assessment is based upon the latest set of audited or certified accounts. We may ask for updated information if the position has changed. For applicants yet to commence trading or within their first year of trading, it will be based upon a certified opening balance sheet. When we look at a member’s financial health we look at the following:
We will continue to do this analysis at subsequent renewals, based on the latest signed accounts at that time. The renewal date of the membership will normally be within six to eight months of the last accounting year end to ensure that the accounts available represent a recent trading period.
Where the applicant forms part of a larger group, we will normally request the consolidated accounts for the ultimate holding company and conduct the financial assessment at that level. In situations where associated companies exist through common ownership of the directors, we may ask for certain undertakings that trading is conducted on an arm’s length basis and that no loans, guarantees or letters of support are provided by the applicant in favour of these associated companies.