All companies intending to engage in the business of travel and tourism agencies must issue a surety bond, issued by an insurance company authorized to issue Surety Bonds in Italy, in order to obtain the necessary authorization.
The beneficiary of the surety bond is the Province, and its duration must match the period during which the company conducts such activities; therefore, in the case of an insurance bond, it must be renewed every year.
The surety bond is requested as a guarantee against any damages caused during the activity, and also, following the implementation of new consumer protection legislation, the guarantee is also needed in case of the Agency’s insolvency or bankruptcy.
The surety bond is issued within approximately 72 hours, and we apply the best market prices.
