What is a Washington Seller of Travel Surety Bond?
A Washington Seller of Travel Surety Bond is required by the state of Washington for those travel agents doing business without the use of a trust account. The Revised Code of Washington Section 19.138.140 states that a trust account must be maintained by the seller of travel and all funds held over 5 business days must be deposited in said trust account for the benefit of its customers. In absence of a trust account, the travel agency can provide a Washington Seller of Travel Bond to the state for the benefit of its customers. The travel agency bond is meant to protect consumers against violations of the provisions set forth in Section 19.138 RCW of the state of Washington. This bond is also referred to as the Washington Travel Agent Surety Bond.
Who needs a Washington Seller of Travel Surety Bond?
The Washington Travel Agency Bond is required by any in-state or out-of-state travel agency doing business in Washington and does not utilize a trust account. Sellers of travel are defined as a travel agent and any person who is an independent contractor or outside agent for a travel agency or other seller of travel whose duties include consulting with and advising persons concerning travel arrangements in the conduct of its business. Agents employed by an existing, registered seller of travel do not need a Washington Seller of Travel Bond. You can also review the definitions of Section 19.138.021 to review other exclusions to Washington’s seller of travel definition.
What Washington Travel Agent Surety Bond amount do I need?
The surety bond amount you’ll need for your travel agency ranges from $10,000 – $50,000 is determined by the amount of gross income earned from Washington residents. The chart below indicates the seller of travel bond amount needed by the level of income generated from Washington residents.
- Gross income of $199,999 and under = $10,000 surety bond
- Gross income of $200,000 through $499,999 = $20,000 surety bond
- Gross income of $500,000 through $749,999 = $30,000 surety bond
- Gross income of $750,000 through $999,999 = $40,000 surety bond
- Gross income of $1,000,000 and above = $50,000 surety bond
The state of Washington will require a seller of travel applicant to certify the amount of gross income earned from Washington residents on the state application.
Do you want help getting your Washington Travel Agent License?
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How much is a Washington Seller of Travel Bond?
The price of a Washington Seller of Travel Surety Bond is primarily derived from your personal credit score. Travel agents with good credit can typically expect a rate of 1-2% of the require bond amount (i.e. a $10,000 surety bond would cost $100-200). Travel agents with bad credit can expect higher rates ranging from 4-10% of the seller of travel bond amount required. However, years of experience in the travel industry and length of time in business can also help lower your rate.
How do I apply for a Washington Seller of Travel Surety Bond?
- Complete our online Washington Seller of Travel Surety Bond application, or
- Download and complete our printable Washington Seller of Travel Surety Bond application, and
- Receive your surety bond quote in minutes!