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ABTA unveils cheaper ATOL scheme
ABTA has unveiled details of a scheme designed to help members comply with the new ATOL regulations and save hundreds of pounds on fees.
By not passing admin costs on to members, ABTA is offering members an ATOL licence fee of £710, compared with £1,115 for a Small Business ATOL (SBA) and £1,890 for a Standard ATOL through the CAA.
ABTA’s annual renewal fee will be £495 compared with £780 for a SBA renewal and £1,185 for a Standard ATOL renewal
Over three years, participants will save up to £2,560 (compared with fees for a Standard ATOL) or £975 (compared with fees for a CAA SBA).’¨
In addition to the cost savings, ABTA’s scheme will be more flexible because the association won’t restrict holiday products sold by members and won’t add charges or compulsory fees for supplier failure insurance to members’ booking arrangements.
The ABTA-ATOL JAS will also give members the flexibility to trade with up to £1.5m in ATOL turnover, rather than be limited to 500 passengers under a SBA ATOL.
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ABTA claims it will also be able to fast-track the ATOL application because it will have prior knowledge of the member.
Instead of dealing directly with the CAA, members will be guided through the process.
Members applying for an ATOL for the first time will be immediately eligible for the scheme, while those with an existing ATOL will be able to apply to opt-in to the scheme from their next CAA renewal date in September 2012 or March 2013.
In addition, ABTA is looking at a way of holding a combined bond for both the ABTA and ATOL system requirements, but has not released further details at this stage.
John de Vial, ABTA head of financial protection, said: "The ABTA-ATOL Joint Administration Scheme represents a very significant member benefit for those drawn into the scope of the ATOL system for the first time. It reduces the cost and complexity of the licensing process, while leaving members with complete freedom to choose what products they sell and who they do business with."
by Bev Fearis
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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