As the next renewal deadline steadily approaches, the team at our sister company, The Travel Vault, are reaching out to clients to kickstart the bond renewal process. To ensure everything goes smoothly, here are four key steps you should focus on:
Submit your application as soon as possible
The ATOL, ABTA and ABTOT renewal process is in full swing. Send in your applications as early as possible to avoid the stress of last-minute submissions. Applying early means you’ll know what security you need, so you have time to secure the capacity and put it in place before the deadline.
Review your bond renewal conditions
With recent increases in bond capacity, you may be eligible for better terms. To take advantage of this, submit your bond renewal documents promptly so discussions with bond providers can begin as soon as possible.
Keep your management accounts and forecasts up to date
Bond providers require the latest financial information. Ensure your management accounts and balance sheet are updated, and have your cash flow forecasts ready to show the financial health of your business. Providing accurate and up-to-date information will reduce the number of questions the underwriters require.
Act immediately after receiving a decision from the CAA, ABTA or ABTOT
Bond providers need a copy of your decision letter to formalise a quote. If you’re a Travel Vault client, share this as soon as you receive it so we can avoid any unnecessary delays and meet the CAA, ABTA and ABTOT’s deadlines.
The Travel Vault collaborates with a range of approved insurers to offer competitive bonding rates. With their extensive experience in the travel sector, they can make your bond application process as smooth and efficient as possible.
If you have any questions or need further information, please don’t hesitate to get in touch with The Travel Vault team.
If you liked this post, we think you’ll love:
Join our newsletter
If you enjoyed this post, why not sign up to our newsletter? Get our latest blog posts, industry updates and exclusive content.
Sign up
