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Your Guide to Travel Agency Bonds
What is a travel agency bond?
A travel agency or seller of travel bond must be obtained by travel agents to ensure funds they collect are transferred to the correct individual or company. Travel agents handle large sums of money that must be forwarded to the actual companies providing services to travelers. With a surety bond in place, consumers and their travel companies are protected from travel agents who might try to take advantage of them through fraud, misrepresentation or financial failure.
These types of bonds are usually required by government agencies that regulate travel agents at the state level. The legal language found on these forms typically requires that travel agents are responsible for the following:
- Forwarding customers’ money to the correct parties appropriately
- Providing customers with a legitimate range of travel options
- Making other business decisions ethically and according to law
If a travel agent fails to fulfill his or her tasks according to the bond’s obligation, a claim can be filed up to the full amount of the bond.
State Specific Costs
Travel agent bond costs and requirements vary greatly as the bond amounts and regulations surrounding each license are established on a state level. Select your state below for more information about travel agency bonds in your area or call 1 (800) 308-4358 to speak with a surety expert.
Pay a Low Rate for Your Travel Agent Bond
Our surety experts are brokers, which means they will contact multiple underwriters to get you the best rate available. Qualified applicants can even take advantage of our premium financing. This allows applicants to break up larger bond premiums into smaller, more manageable payments.
Your exact premium will depend on a number of factors, including the bond amount, the term of the bond, and the applicant’s financial credentials.
Bad Credit? We Can Help
Because we believe every applicant should be able to get the bond they need, we offer a Bad Credit Bonding Program. We work with underwriters who specialize in writing travel agency bonds for less financially qualified applicants. Don’t let your credit keep you from getting the bond you need. Apply today!