Guest post: 4 ways to prepare for your bond renewal

In this guest post, our sister company, The Travel Vault shares four ways to prepare for an upcoming bond renewal.

30 Jan, 2023 Updated 30 Jan, 2023
Guest posts
Landscape image of The Travel Vault logo and the Amalfi coast in Italy

The next renewal deadline is fast approaching, and our team is busy contacting clients to get the bond application process started. Here are four things you should look at to ensure it goes smoothly.

Submit your ATOL and ABTA application as soon as possible 

The ATOL and ABTA renewal process is well underway, so get your application in quickly to confirm your bonding requirements and avoid getting stuck in the last-minute rush.

Review your bond conditions

Bond capacity has increased in the last few months, so you may be able to secure better terms. Get your bond renewal documents ready now to start discussions with the bond providers as soon as possible. 

Maintain your management accounts and forecasts

Bond providers will want the latest view of your finances, so keep your management accounts and balance sheet up to date. They will also want to review your cash flow, so ensure your forecasts are ready to give them confidence in your business.

Finalise your bond quotation as soon as you have a decision from the CAA or ABTA

Bond providers will need a copy of the decision letter to formalise a quotation, so it’s important to share this with them as soon as you get it to meet your renewal deadline.

The Travel Vault works with a number of approved insurers to offer bonding at competitive rates and with our vast experience of the travel sector, we can make the process as smooth and as efficient as possible. Please get in touch if you’d like to know more.

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ABTA, ATOL, CAA, Licences, Regulation