The guarantee of deposited travel funds lies at the heart of Asia My Way’s commitment to providing a clear, secure and transparent framework before departure.
Asia My Way is a network of agencies operating primarily in Southeast Asia, as well as in Japan, South Korea, and Taiwan.
Although our companies are governed by local law, the fact that we offer our trips to European markets – French-, Spanish-, German- and Italian-speaking – leads us to voluntarily comply with the European directives governing the activity of travel agencies.
As such, we are required to guarantee the full amount of funds deposited by our travellers.
What is the Total Guarantee of Deposited Funds (TGDF)?
The total guarantee of deposited funds consists of securing all payments made before departure – deposits and balances – which are used by the agency to confirm and secure services with our local partners.
It is a financial protection mechanism for travellers prior to the start of the trip, designed to reassure clients who book their journey well in advance.
This guarantee requires our company to implement a specific and rigorous management of funds, particularly deposits, as well as a duty of transparency. It also entails financial reporting obligations to our partners, including Evaneos.
In the case of Asia My Way, all deposits paid by travellers are transferred to and protected in dedicated accounts.
A clear framework, without ambiguity
It is important to clarify that the total guarantee of deposited funds applies exclusively to amounts paid before departure, as long as the trip has not yet begun.
It does not cover events that may occur during the trip, which fall under the travel insurance policies taken out by clients (delays, incidents, weather events, etc.).
Similarly, depending on the booking channel, the terms of coverage may vary.
For travellers who have booked via a partner platform such as Evaneos, the platform acts as the primary point of contact in case of difficulty, before potentially turning to the local agency. For direct travellers, the guarantee is provided by our company.
Proven resilience
This guarantee mechanism notably enabled our group to navigate the Covid crisis. To date, all clients whose travel plans were affected by the pandemic have either recovered their deposit, completed their trip, or are about to do so.
Finally, it is essential to note that although this guarantee represents a real cost for the company, it is never passed on to travellers.
“Like the exchange rate guarantee, the total guarantee of deposited funds helps ensure a smooth and worry-free travel experience for our clients,” emphasises Olivier Rymer, Managing Director of the Asia My Way Group.
If you wish to go further, our teams remain at your disposal (contact us) to discuss your project and support you, by your side, in the design of a tailor-made journey, within a clear and secure framework.
