A travel agent pipeline money trust can give suppliers comfort to work with you.
A supplier of travel arrangements remains liable to provide travel to customers even if they haven’t been paid for those services owing to the agent’s financial failure.
Therefore, more than ever, there is pressure from travel suppliers to take receipt of funds from agents as soon as they are received from a consumer. The alternative is to hold pipeline money in a travel agent pipeline money trust.
Serenity’s travel agent pipeline money trusts can take two forms:-
Individual pipeline money trust account
For larger travel agents or those with more complex trading relationship, an individual trust account is most effective.
It works like this:-
All consumer payments will settle directly into the travel agent’s trust account from commencement of the trust arrangement;
Serenity as trustees are authorised by the trust deed to release payments based on a ‘payment request’ system in the following situations:-
The supplier has been paid for the travel arrangements being protected OR
Money is being released from the trust account directly to the travel supplier
The travel agent has made a refund to a customer
A non-refundable commission payment is due to the travel agent under your commercial agreement with the supplier
Join a collective pipeline money trust
Take advantage of economies of scale available where a number of independent travel agents join together to run one trust account operated via a central administrative body.