National Tour Association and National City Bank Provide Escrow Program for Tour Operators
May 12, 2007 (PRLEAP.COM) Travel NewsMay 2007 / LEXINGTON, Ky. — National City Bank recently announced it has entered into a Pilot Endorsement Agreement with the National Tour Association to promote the Travel Funds Protection Plan to its members. The agreement was approved by NTA's Board of Directors at the NTA Tour Operator Spring Meet in Kelowna, British Columbia, earlier this month.
The Travel Funds Protection Plan is a unique escrow program that offers protection for deposited travel funds and provides benefits to tour operators, travel agents, their customers and suppliers of ground transportation. Pre-payments and deposits to providers of travel services are allowed under the plan. It's the only consumer protection plan endorsed by the National Tour Association and approved by the California Seller of Travel law.
"As the premier association for packaged travel, NTA strives to provide its members with resources to strengthen their business," said NTA Chairman and CEO Randy Julian. "With National City Bank and the Travel Funds Protection Plan, travelers who purchase packaged travel through a participating NTA member can rest assured that not only will they receive a great travel experience, but they will have piece of mind knowing that they and their travel investment are in good hands."
NCB is one of the leading travel industry depository banks in the nation with account relationships in the United States and overseas. NCB's expertise is in delivering customized financial programs to the travel industry, including surety trust agreements, escrow agreements for public charters and single entity charters, special purpose depository escrow accounts and the Travel Funds Protection Plan escrow program.
The National Tour Association has a global membership of tourism professionals involved in the growth and development of the packaged travel industry. Its membership includes more than 600 tour operator companies — group, independent, inbound and outbound — and the destinations and suppliers that partner with them. The association is committed to providing business results and information to its members, while offering a collaborative, caring environment in which to build relationships. For more information, please visit www.NTA.travel.
For further information contact David Valpredo at National City Bank, 755 West Big Beaver Road, Suite 1400, Troy, MI 48084, Phone: 248.729.8375; Fax: 248.729.8803; e-mail: email@example.com.
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David J. Valpredo
National City Bank
National Tour Association