Financial protection for schools and students

Financial protection for schools and students

 

Giving up your free time to provide your students with an amazing educational travel experience is a wonderful, selfless thing to do. And it doesn’t need to consume all your time. 

Using a specialist school tour operator such as Service Travel will significantly reduce your workload associated with organising the trip and will remove the burden of your having to arrange guaranteed financial security for the school and parents. 

The first important decision for yourself as the group TIC, is to ensure the funds paid by the parents and school are financially protected. This includes all payments made to the agent and the various travel suppliers such as airlines, hotels, sightseeing and coach companies.

Don’t compromise the financial security of the school or parents and avoid placing yourself in a “please explain” situation!!

It is well documented that in 2020, a number of schools lost a significant amount of the funds paid to an Auckland based school travel provider due to its failure to have adequate systems in place to protect the funds paid by the parents and schools. The Ministry of Education recommends that all schools book their travel through a licenced agent who offers full financial protection with all payments lodged to a separate Trust bank account, such as administered and managed by Service Travel in conjunction with TAANZ. 

There have also been instances where schools have booked travel directly with a supplier and bypassed the agent, only to find that following the financial collapse of the supplier, the funds paid were not protected, with the majority of the funds lost. The importance of booking your groups travel via a fully bonded travel operator like Service Travel, can not be underestimated.