A streamlined bonding service for members of the Association of Bonded Travel Organisers Trust has been introduced.
Abtot will provide financial protection for both licensable and non-licensable travel – flight-inclusive and non-flight travel – with the new service.
It claims to be the only association offering total protection via a combined Atol Protection Contribution (APC) and bonding scheme, allowing organisers to be fully compliant via a single trade body.
The new combined facility simplifies financial protection for Abtot members, covering their total turnover through one application and via one association, ensuring a more efficient and cost-effective application process.
Abtot has been providing a straightforward way for travel organisers to comply with their non-licensable obligations under the 1992 Package Travel Regulations. It now holds an Atol franchise granted by the Civil Aviation Authority.
The current complexity surrounding financial protection in the UK travel industry may increase with the implementation of the Package Travel Directive in 2018.
Abtot development director Paul Fakley said: “Changes to the PTRs are anticipated for January 2018 and unfortunately they won‘t resolve one of the main hurdles that currently exists with two parallel sides to consumer financial protection within the travel industry.
“It’s our mission to simplify and streamline the financial protection process for our members as much as possible.
“As an Atol franchisee we’re now able to guarantee one application and one point of contact, providing an all-in-one bonding approach that small and medium sized travel organisers have been waiting for.
“To help in this process we have also bolstered the ABTOT team with two new appointments. Samantha Bradbury is the new membership secretary and Natalie Black is now development manager.”
The organisation is also producing a low-cost card payment facility to members.
ABTOT will take on some of the responsibilities of the merchant acquirer, ensuring all claims will be met by ABTOT in case of a member’s collapse or failure.
Fakley said: “We’re evolving and responding to market changes just as our members have to.
“This is the first time a travel trade association has launched two high profile facilities at once and we’re delighted to be able to remove duplication and save our members time and money.”