There are numerous ways in which the Towergate Travel Team can assist with your ABTA bonding requirements.
Over the course of the last two years, the Towergate Travel Team have successfully helped Tour Operators, Cruise Companies and Travel Companies secure new and larger bond requirements (including many respected and well-known brands).
With such uncertainty around the markets and interest rates/inflation being so volatile, any assets and/or cash held against the Bond are quite possibly reducing in value – quickly.
We have spent time trying to help travel companies release much-needed cash flow and working capital back to their P&L by replacing bank-held bonds and/or parental guarantees, with insurance bonds.
By releasing cash back towards your P&L you could be in a better position to negotiate deals in other areas such as the early repayment of CBILS, other loans which could be repayable at higher interest rates, or help with other potential investment opportunities.
As has been well documented, the COVID period was significant, which is why we are seeing increased activity around the travel business trying to replace trust accounts, due to poor market conditions and/or the lack of appetite in the travel bond sector.
But, by being ABTA Bonded and securing Bonding by Insurance, it releases that much-needed cash flow we mentioned previously, back to the business.
As an ABTA Partner+, Towergate Travel, are one of a handful of bond brokers recognised by ABTA. We are a specialist insurance broker with over 50 years of experience, specialising in Travel Bonding or Financial Failure Insurance to comply with the 2018 Package Travel Directive. We work closely with the team at ABTA to ensure you get the right level of bonding and manage the process from start to finish.
If you have any questions or would like to discuss your current bond or insurance arrangements, call us on 01932 334140 or email us at email@example.com . To register your enquiry please do via our Travel Bonds page.
Date: January 16, 2024