new travel company help

seanpu1

Hi

After months are hard research we have a large set of resort and private accommodation providers in our favorite part of the world, just outside the EU's borders.

We want to market these places to the great people of Ireland. it would make their lives easier if we could include flights.

Having spoken to an accountant about this little venture of ours we suddenly hit a €23k brick wall, namely some sort of bond the government wants us to have in case we go bust and haven't paid the resort/holiday fees.

Is there any way around this?

I understand this from the consumer perspective but from ours its a bit silly. everyone we work with requires 100% payment upfront so our customers would receive their tickets in hand straight away. If we go bust its our problem, not the customer's, nor the resort's. The bond is dead money for us.

Basically I'm looking for a way around this.

We'll be selling in the UK as well and they don't seem to have our apparently mandatory Bond problem.

(awaiting flames about getting around government legislation and consumer rights. but with this in the way nobody will see what we have to offer sadly)

EKRIUQ

Not too sure about Travel agents, but for an auctioneers bond you can get your insurance company to cover the bond and you pay a yearly premium to the insurance company who send a letter saying you are insured up to 23k incase of going bust.

If you try some of the bigger insurance caompanys they might be able to help you out.

Bandara

your bank will give you a letter of guarantee and charge you annual fee for it. Its quite reasonable. Be aware thought that is later you apply for an overdraft they will consider the guarantee letter as part of any overdraft you take out.