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Monitoring & declarations
It’s a legal requirement that organisations are bonded at appropriate levels. Since the Bond is based on projected turnover, as a member you’ll be required to declare your actual turnover on a quarterly basis. (These dates will be specified by ABTOT).
You can find full guidance HERE
Arbitration
The Arbitration Service is administered and managed independently by Dispute Settlement Services Limited.
The Arbitration Service is:
The Arbitration Service offers a simple, inexpensive method of settling disputes by the appointment of an independent Arbitrator. They will examine the facts and give a ruling quickly, without too much formality or having to resort to expensive litigation – in an atmosphere which can result in the retention of goodwill by both parties.
Although not compulsory, we strongly recommend that you include the arbitration wording within your brochure or booking conditions, when they are next printed, under the heading ‘Dealing with complaints.’
If you have an unresolved dispute with a customer, you should advise them of the Arbitration Service, how it works and the costs involved.
What to do in the event of a failure
In order to administer a claim, ABTOT requires members to maintain and keep up-to-date booking records of all transactions throughout the duration of membership. These records will be requested upon notification of the member’s failure.
In the event of any claim, ABTOT would need you to provide us with documentary proof of any payment made by your customer (e.g. invoices and receipts) and to co-operate fully with the underwriters and the Membership Secretary who will be organising a refund and repatriation service.
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