Our records show that more than 90% of our clients renew with us each year.
Three Steps to Bonding
We believe that part of our broking success is as a result of the personal interest we take in getting to know our clients and how their businesses operate.
For clients new to TravelBonding.co.uk the initial bond underwriting process works in the following way:
We are always pleased to discuss your bonding requirements from an early stage. It makes sense to contact us whilst the application is in progress rather than after the ABTA/CAA/IATA have made their decision. In this way we can look at the application well before the licence is granted.
Having talked over the basic requirements, we will then require a completed application and supporting documentation for presentation to underwriters, for example the ABTA/CAA/IATA correspondence. If the application looks promising we would normally organise a visit, with potential underwriters present, so that we can meet the owners of the business, and discuss their requirements at first hand.
When we have received and evaluated all of the information, and if underwriters are in a position to offer a quotation, the terms will be set out formally. Upon receipt of the premium and any other supporting documentation, the bond will be lodged with the relevant authority/association, and a copy of the bond made available to you. At any point during the underwriting process our UK travel bonding team will be pleased to answer any queries regarding the progress of the application.
When evaluating your business, from the outset we take into account the potential for variations being required.
During the year, holiday sales may have exceeded the original projections. At this point it will be necessary to vary your licence and increase the size of the bond. TravelBonding.co.uk are used to handling such variations speedily and efficiently – even for large increases.
We may require some additional information, but it is a much simpler procedure than lodging additional security, as is often the case with bank bonds.