A bond required of sellers of travel (Travel Agents) to ensure collected funds are sent to the companies providing services for the traveler. If a travel agent fails to forward the required funds to the appropriate company, a claim may be filed against the bond to recover losses.
The seller of travel bond is usually required by the state or locality in which the travel agency is based. However, service companies such as airlines (ARC bonds) or hotels might also require the bond as a necessity to do business with a travel agency.
