Financial Protection with the Travel Trust Association - #Q0621
What does it mean?
It means that you can book your holiday secure in the knowledge that Travel Trust Association will protect you in the unlikely event of a member becoming insolvent. Should a member of the Travel Trust Association for any reason financially fail or cease trading, the Travel Trust Association will liaise with the suppliers to ensure that your holiday goes ahead unaffected. If for any reason this is not possible, the TTA will administer a claim for a refund of money that you have paid to a member for your holiday.
Who are the Travel Trust Association?
The Travel Trust Association is a trade association of Travel Agents, Tour Operators and Travel Organisers that operate trust accounts in order to provide financial protection for the consumer. The TTA lays down strict guidelines on how customer’s funds may be handled and each member must adhere to these guidelines. Every TTA member puts customer’s funds into a designated trust account, which is supervised by an independent trustee. The trustee is a banker, Chartered or Certified Accountant, or Solicitor. Your funds are held in this account and may not be released unless your receive your holiday or your funds are released to another company that becomes responsible and provides for your financial protection.
Making payments to a TTA member
All payments made to a TTA member should be made payable to their specially designated trust account i.e. when paying Subobis Travel Limited, make all payments to ‘SuborbisTravel Limited Trust Account’. Credit Card payments are automatically deposited into the trust account via electronic processing. Subobis Travel has a practicing certificate issued by the TTA. This identifies the companies TTA number (Q0621), the company to whom all payments should be made (Suborbis Travel Limited), and the trustee member for the company and his / her address (Mr Sudheer Sharma, TTA Trustees (UK) Ltd, 3rd Floor, Albion House, High Street, Woking, Surrey, GU21 6BD).
The Travel Protection Plan
The TTA’s Travel Protection Plan covers every service that you have booked with Suborbis Travel whether it be for transport, accommodation, diving, entertainment or tours. It involves two aspects:
1. The Trust Account operated for your benefit
The money may only be released from the Trust to pay for the services which you have booked.
There is a further layer of protection from a guarantee provided by the TTA if by reason of fraud or dishonesty, your money is not in the Trust Account under this guarantee, the TTA will guarantee the financial obligation of Suborbis Travel Ltd to repay such sum to you up to the maximum any one passenger of £11,000. So if you if you paid £2,000 the TTA guarantees to reimburse the loss of £2,000 were it not available to you from the Trust Account.
The Trust Account plus the guarantee will ensure that all money which you have paid is safely protected and available to reimburse the money paid. When you make a booking with us you will be supplied with a guarantee certificate.For further information please visit the TTA web site at www.traveltrust.co.uk where you can also verify our membership.