The Travel Bond Set-Up Process
As ABTOT is an approved body (approved by the department for Business, Energy, and Industrial Strategy (BEIS)) we oversee the travel bond process which enables ABTOT Members to speak directly to us about their bonding requirements.
The first step is to have a call with the Business Development Team who will be able to assess if you meet our criteria, Applicants need to be:
- a small to medium sized travel organiser
- a principal/ (travel organiser) or Linked Travel Arranger. We do not provide retail travel bonds
- able to demonstrate that they have or can have £10k paid up share capital
- able to meet the initial financial criteria
When you have passed the first step you will be asked to provide supporting financial information for our underwriters to complete a financial assessment. If the underwriters are able to offer terms, they will confirm the value of the Travel Bond or Financial Failure Insurance required to protect your customers’ monies and any other conditions that are required for your Membership.
Once the underwriters have offered indicative terms we will provide an online application form for you to complete and an invoice for the application fee. Following a call with one of underwriters, our Membership Team will complete the Membership process and forward an offer of Membership which includes shortfall insurance and Membership fees. Your Travel Bond quotation will be sent from t&g.
At any point during the underwriting process our Business Development Team will be pleased to answer any queries regarding the progress of the application.
Contact the ABTOT TeamEmail the team Call the team on 0207 065 5313
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