AYAX, CEAV and ends, together with IATA, working in an alternative system to the guarantees of IATA
AYAX, the hand of the Spanish Confederation of Travel Agents (CEAV) and the Association of Travel Agencies Catalanas (ACAV), being aware that there are many travel agencies IATA (600 approximately) that are required by the regulations IATA (International Air Transport Association) to be deposited with the major entity guarantees, have spent more than a year working with IATA, through different meetings to obtain sufficient information to assess the risk of insolvency of travel agencies and thus information to advance the implementation of an alternative solution insurer to which IATA currently requires in Spain.
Travel agencies that are required to provide a guarantee to ensure payment transactions sale of airline tickets through a surety bond or guarantee, and in many cases through bank guarantees with real or guarantees by pledging of financial assets are as follows:
- When not meet the local financial criteria.
- When there has been a change of ownership.
- When it comes to new agents.
- When an agency that has been rehabilitated, after a default, and whether technical or not.
- And from next May, also those that meet local financial criteria but want to operate with monthly payment.
AYAX is an agency underwriting licensed to operate in international markets and specifically with the main worldwide market, Lloyd's of London, through which could provide the current model an alternative insurance solution IATA calls on travel agencies . This alternative is part of hiring a insolvency insurance with IATA, whose group policy may join those travel agencies that wish, not having these agencies that provide guarantees or warranties of any kind. This formula also provides a great administrative advance when renewing licenses, payment of insurance is done in the BSP and one of the strengths is the scope of coverage, through which are covered all operations unlike guarantees or bond with a ceiling.
IATA is knowing the model AYAX aims to provide the market's hand CEAV and ACAV, for which you are happy with the signing of the tripartite agreement, as IATA in other countries is operating satisfactorily with the model AYAX.
For all the above, these three entities have made an electronic survey to analyze the acceptance of this product and demand can have by travel agencies the implementation of this system.
The survey will be available in the portal: www.ayaxsuscripcion.com/encuestas, from morning February 12, 2014 until March 12, 2014, inclusive.
From CEAV, and from ACAV you want to make an impact on the great importance for travel agencies have complete this simple, anonymous survey as they may provide a much more agile and effective financial instrument.
Upon completion of the recruitment process surveys, technical and actuarial AYAX team will begin working with the information available IATA and survey data to make a proposal to the market and see the feasibility of the project.