Travel Guarantee Fund: Who Qualifies and What You Get
Understand how the Travel Guarantee Fund provides financial protection for package tour clients in the event of travel agency bankruptcy.
The Travel Guarantee Fund is a scheme that provides financial protection to clients if a travel agency becomes insolvent.
Who it's for
This scheme is specifically for travel agents who sell package tours. It is designed to support the professional travel sector by ensuring that those selling these specific types of travel arrangements are covered.
What you get
The fund provides financial protection for your clients. If your travel agency faces bankruptcy, the fund is there to ensure that the people who booked with you are protected financially. This provides a safety net for travelers who have paid for services that can no longer be delivered due to business failure.
What it costs you
There are costs associated with being part of this scheme. You will need to pay an annual membership fee to remain a member of the fund. Additionally, there is a contribution required for every booking made.
The catch to know
The most important thing to remember is that clients expect this protection. Because travelers look for this security when booking their trips, failing to participate can lead to a loss of credibility for your business.
How to apply
- Confirm that your business sells package tours.
- Visit the official portal to find information on joining.
- Follow the instructions provided on the website to complete your registration.