Austria – Financial guarantee

  • If you are organising package tours and other associated travel services you need a licence in Austria to comply with the country’s Travel Regulations.

    Licensed travel agents need to obtain insolvency coverage to ensure that advance and partial payments, expenses for return transport and, if applicable, the cost of continuing the journey are reimbursed in the event of an insolvency.

    Insolvency coverage is provided by taking out insurance, furnishing a bank guarantee or a guarantee by a public corporation.

    Arcus Solutions offers Insurance bonds as these bonds tend to be unsecured whereas bank bonds require cash security against the value of the bond.

    We have also appointed an experienced claim handler in Austria who are open 24/7 . In the event of a Travel Agent or Travel Organisers’ insolvency our claim handler can manage customers’ claims and organise the repatriation of customers.