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As part of the licensing requirements, it is necessary for Agents to provide ATOC with a financial guarantee in the form of either a bankers bond or membership into the Travel Agents Reserved Insurance Fund (TARIF).

For existing agents, where a bond is provided, the value of the bond needs to be equal to the sum of the two highest consecutive periods of rail sales, plus a percentage for growth,  generated under their ATOC Travel Agents Licence in the previous 13 rail accounting periods.

The bond is reviewed periodically on the basis of the agent's most recent 13 accounting periods, however, if there is a notable rise in an agent's revenue an increase would be requested in order to ensure adequate cover is maintained at all times.

For new licence applications, the value of the bond needs to be equal to the sum of the two highest consecutive projected periods sales as declared in section B3 of the licence application form.

Please click here to download details of Rail Settlement Plan (RSP) approved suppliers and draft bond wording. 

If you find you need further information or advice please do not hesitate to contact Rebecca Hansen by



Travel Agent Reserved Insurance Fund (TARIF)

ATOC (Association of Train Companies), in conjunction with the Guild of Travel Management Companies (GTMC) and Advantage Travel Centres launched TARIF, a cost-effective alternative to bonding, in May 2011.

TARIF is based on commercially-procured credit insurance against settlement default, paid for from a ‘reserve fund’ accumulated through a levy on participating TA/TMC/RITAs. The credit insurance element of TARIF is based on ATOC obtaining umbrella financial protection in respect of TA/TMC/RITAs from a commercial credit insurance provider upon payment of a policy premium.

The TA/TMC/RITA is required to pay the TARIF Scheme levy rate which applied when the Scheme started or the TARIF Scheme levy rate at the point of entry, whichever is the higher. The TA/TMC/RITA pays such a rate for the first 3 years of their participation in the Scheme or to the point at which the Scheme ceases to exist, whichever is the earlier. If during this period, the levy rate increases above the initial rate prevailing when the Scheme commenced, they are obliged to pay the higher rate. After 3 years membership they revert to paying the levy that applied to participants after the first 3 years of the Scheme’s inception or the levy prevailing at that point in time, whichever is the higher; please refer to  table in 6.9.within the TARIF Scheme Rules.

Please click here for a copy of the TARIF Scheme Rules.

All ATOC- licenced TA/TMC/RITAs, including TA/TMC/RITAs that trade under ‘umbrella’ licence arrangements, can apply to join the TARIF Scheme upon completion of an initial 3 year period without any instances of late settlement or default.