Financial Security

Is your holiday safe?

There are some important points which need to be understood by customers. All the bonding schemes in existence are there to protect your money in the event of the financial failure of the holiday company. That is all they protect. They do not protect you against cancellation. If you, the customer, cancel a holiday you need to claim on your insurance. If for some reason Cycling Gems cancels a holiday we will refund all of the money you have paid to us.

ATOL is for flights. We do not offer any flight inclusive holiday so we do not need to be ATOL bonded.

In order to provide card facilities for you to pay for your holiday, our card supplier insists on a large security/bond to be deposited with them. This is to provide cover in the event of company failure. We have a substantial security/bond deposited with Barclays bank for more than twice the total cost of our most expensive holiday. That is based upon maximum numbers of participants. This money is entirely controlled by Barclays. We cannot access this money for any purposes. This complies with the Travel Regulations. If you pay using the on-line system, the credit card companies are legally obliged to refund your money in the event of the company failure.

We have never cancelled a holiday. Where we have had small numbers, we have offered participants the choice of going on the holiday, or a complete refund. On each occasion we have run the tour with small numbers.

We do not run more than one trip at any one time. Unlike many of the bigger companies we are not intent on making a return for shareholders, we are intent only on covering our costs and building some small reserves. Our major cost is hotels, for which we pay a deposit and the balance when we use them. We don’t have any creditors.