How
do we protect your holiday money:
The
Europen Package Travel Regulations - These come into
effect if a company packages more than two items together. The regulations
provide 3 different ways in which Tour Operators, such as Redpoint,
can protect your holiday money.
| 1 |
Trust
Account |
A trust
account is a Client's Funds account that your money goes into.
Your money must stay in the account until you have completed
your holiday, then the company has to apply for your money from
the Trustee. The Trust account is overseen by a 2 Trustee's,
1 from the company and an independent Trustee (Solicitor, Accountant...)
The most well known association that oversees trust accounts
is the Travel Trust Association (TTA). Although a company does
not have to be a member of an association, they do provide another
level of financial checks on the operation of the Trust Account
and they would administer the refund of your money (or the paying
of the company suppliers so you could continue with your holiday)
in the event of Tour Operator Failure. |
| 2 |
Bonding |
The most
well known association that provides bonding is ABTA, although
there are many others. Bonding in it's most basic form is that
the company agrees with a bank to provide up to a certain amount
if the company fails. In ABTA's case they pool other companies
monies into an emergency fund that would be used if a company
fails but does not have enough of a bond. Although a company
does not have to be a member of an association they do provide
another level of financial checks on the companies operation. |
| 3 |
Insurance |
Similar
to bonding, but the company takes out an Insurance policy to
insure it against failing. The insurance company would than
pay the money back to the clients. |
If you are buying
a Holiday that includes a flight then you should look for ATOL symbol.
This means that your flight should be protected by that companies
ATOL (Air Tour Operators Licence) these are overseen by the CAA (Civil
Aviation Authority).
What Does Redpoint Do?
We have arranged an insurance policy
called, Total
Payment Protection (topp) Policy cover:
In compliance with the UK Package Travel, Package Holidays and
Package Tours Regulations 1992 and the Civil Aviation (Air Travel
Organiser’s Licensing)
Regulations 1995 an insurance policy has been arranged with Travel & General
Insurance Company plc to protect customers’ prepayments paid in respect
of
· flight inclusive packages commencing and returning to the UK
· non-flight inclusive packages commencing and returning to the UK
· the ground handling aspects of packages where the customer is responsible
for arranging travel to the destination
offered in this brochure/literature/document/on this website (subject to the
terms of the insurance policy), for:
· a refund of such prepayments if customers have not yet travelled
· making arrangements to enable the holiday to continue if customers
have already travelled or
· repatriation of customers to the UK in the unlikely event of our
financial failure.”
As Redpoint also sell flights, of course we have an ATOL Licence (Number
T7098).
Apart from all
of this protection Redpoint is owned and operated by Nina Hasinski
and Greg Moffatt. It is their only business and they have many loyal
guests who return year after year (since 1995). You will meet Nina
and Greg and the rest of their dedicated team in the resort.
|