What is a Travel Bond?
A Travel Bond is a voucher that is sold by the hospitality businesses at a price lower than the face value. Like a proper obligation, Travel Bond is redeemed at face value upon staying at your favourite hotel or dining at a restaurant of your choice.
The customers need to still book their holidays before using the voucher.
Where can the Travel Bond be purchased?
The Travel Bond can be bought on our website www.travel-bonds.com. Once purchased, the customer will receive a voucher to be redeemed in the hotel, the restaurant or for the tour of her / his choice.
Who can participate in the Travel Bonds program?
The Travel Bonds Program is open to any traveller and tourist, who want to support the tourism industry and get some additional value in the future booking.
What is the cost to participate in the Travel Bonds Program?
There are no transaction costs for customers. The revenues from the sales of the Travel Bonds are transferred to the tourism operator net of the transaction costs.
Let’s explain.
- Face value of a Travel Bond = EURO 200
- Price = EURO 140, paid by the customer and collected by Travel Bonds on the behalf of the vendor / tourism operator
- Fee = EURO 6, transaction cost retained by Travel Bonds Program
- Money received by the travel operator = EURO 134
How can a hospitality operator join the Travel Bond Program?
The hospitality operators can join this initiative on our website. The travel operator needs to
- Define the face value of the Travel Bond
- Define the selling price of the Travel Bond
- The amount of vouchers they are aiming to sell
- Add a picture of its offering
- Add all his details and bank details to receive the proceeding of the sales
There is no subscription fee. Once registered, we will open a page on our website for that operator to sell the Travel Bonds.
What can a customer buy with a Travel Bond?
A Customer can buy anything at the selected tourism operator. The face value of the Travel Bond will be deducted by the total costs of the services bought.
How many Travel Bonds can a customer buy?
A customer can buy as many Travel Bonds issued by the travel operator as possible.
How can a customer know if a travel operator is participating in the program.
Customers can check on the map on our website www.travel-bonds.com which tourism operator is participating.
When can a customer redeem the Travel Bond?
The Travel Bond can be redeemed by the date specified on it. Typically within one or two years.
The customer still needs to book the service with the travel operator and use it to pay for the service.
What happens if a customer is not able to redeem the Travel Bond by the expiry date?
The customer will require to contact the tourism operator to either collect the amount of paid net of the transaction costs, or ask the tourism operator to extend the expiry date.
Can the Travel Bond be transferred to a third person ?
Yes it can be transferred, however this needs to be agreed with the tourism and travel operator. The buyer can also assign the Travel Bond to a specific friend when he/she buys it.
What happens if the travel operator goes bankrupt?
The Travel Bond should be considered as an investment, and they are a liability for the travel operator. The bankrupt administrator needs to compensate all debtors including the Travel Bond holders. The compensation can vary from the full amount of what has been paid to a portion of it.
