Why You Need an ARC Bond for Your Business
Have you taken a vacation or traveled for work lately? If you have, you’ve contributed to the trillion-dollar travel industry in the United States. In 2014, Americans spent over 89 billion on airline and railroad tickets alone.
That’s a lot of money to be passing around from passenger to travel agent to airline. The ARC (Airlines Reporting Corporation) wants a guarantee that travel agents will send the proper payments from ticket sales to the airline and railroad companies. It also wants to protect those companies from fraudulent practices. That guarantee is an ARC Bond.
If you’re a travel agent, you’ll need an ARC Bond before you can get access to the ARC’s travel information, and before you can issue airline and railroad tickets.
ARC Bonds are different from Travel Agent Bonds. ARC bonds only cover airline and railroad tickets, while Travel Agent Bonds also cover other types of bookings.
Bonds can be between $10,000 and $70,000, and the premiums are usually based on the bond amount plus financial factors.
If you need an ARC Bond, SuretyGroup.com‘s Surety Bond Specialists can often give you same-day approval that makes the process quick and easy.
Have questions? SuretyGroup.com can help. Give us a call at 1-844-432-6637 and our Surety Bond Specialists can walk you through the bonding process.
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