Serenity has unrivalled experience in setting up and administering trust accounts for travel companies turning over in excess of £30 million; and collective trust account schemes with a central administration point.
This means that we are well placed to advise larger travel businesses about how best to structure travel trust protection right from the start – and getting it right from the start means less wasted time and cost later.
Our trust fund managers aim to work with you from the moment you begin to consider a trust account as an option for financially protecting your sales. We will identify the operational, accounting, legal and practical needs of your business so that we can then correctly design and implement a bespoke trust account structure that works to serve your requirements.
Ours is a true full design, implementation and administration service for tour operator trust accounts. Your contact point will remain consistent throughout the process: from assessment, through set up and training to ‘go live’. And of course, we’ll be sticking with you as we maintain and run the resulting trust.
Below is an overview of the areas our bespoke trust consultancy typically provides:-
We will make a thorough assessment of your systems, preferences and capabilities before we begin to tailor-make your trust or escrow arrangement by assessing:-
We will work alongside all your stakeholders to design a structure that as closely as possible meets all your commercial and operational requirements: your merchant acquirer, bank, any third party data manager or processor, foreign exchange facility or payment gateway.
As and SRA regulated organisation, we are uniquely qualified to draft trust or escrow deeds to accurately reflect the structure we devise. Having this in-house service enhances the set up process as it aids quicker and more cost-effective implementation. We are also able to draft and amend travel commercial contracts (supplier contracts and booking conditions) so that they accurately reflect the workings of the structure we design.
We have established banking relationships with most high street banks and a number of multi-currency virtual bank account providers and payment gateways. We will work with you to identify the best payment processing fit for you; and engage with them to set up the on and offline banking facilities required to manage your chosen trust structure.
The correct trust data is the keystone to the efficient and effective running of a gold standard trust account. Our bespoke services include detailed guidance and assistance in creating suitable data sets; and rigorous testing and auditing prior to ‘go live’.
If you’d like some more information about the checklist of issues that you need to consider in making a move to a tour operator trust account, this article may help.