Seller of Travel Bond

Seller of Travel Bond is a requirement for any person or business who is a seller or promoter of travel and related services to register or be licensed annually with their specific state department, unless exempt. Sellers of Travel are required to provide proof of assurance in the form of a Seller of Travel Bond, certificate of deposit or letter of credit, in an amount determined by the state entity by which they are governed by. The Seller of Travel Bond can range anywhere from $5,000.00 to $25,000, or even $50,000 if they offer to sell vacation certificates. The State entities are authorized to collect registration fees and impose penalties for non-compliance of the law.

There are many laws that provide certain protection to consumers. In the past, a “seller of travel” provided or arranged air or sea travel. The law has been expanded to include sellers of travel who provide or arrange land and water vessel transportation services also, in most cases they are required to maintain a Seller of Travel Surety Bond.

All purchases made from sellers of travel who are located in the United States, as well as purchases by sellers of travel who sell or offer to sell from locations throughout the United States, which includes both retail and wholesale transactions, and covers sales to tours operators, consolidators, and wholesalers.

All sellers of travel must register or be licensed as a seller of travel, before they can operate lawfully or market to persons, businesses, or retail vendors and some states require a Seller of Travel to Register and in most cases provide a Seller of Travel Bond. Registration is not the same as licensing which usually involves some review and approval. So long as the Seller of Travel discloses the necessary information in its application, a registration number will be issued.

However, in the event a Seller of Travel does not provide the tickets or lodging, and the purchaser is having problems locating that Seller of Travel, having a Seller of Travel Bond will protect the consumer and the information in the registration file will help in determining who actually made the sale. The purpose of registration and or licensing is to have adequate information about both reputable and dishonest sellers of travel, to be able to locate them should anything go wrong

What are Surety Bonds?

A Surety Bond is a written agreement that usually provides for financial compensation in case the principal fails in their duties or promises. A Surety bond is a specialized type of insurance that is created whenever one party guarantees an obligation by another party.

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Lottery Bonds – Georgia Lottery Corporation

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