SAN FRANCISCO -- A bonding company in North Carolina stepped
forward to underwrite $50,000 bonds for non-ARC agents who need a
bond to comply with the new Nevada Seller of Travel law.
Bob Buchanan, president of ARC Bonding and Insurance Agency in
Littleton, N.C., said his firm is offering bonds that meet Nevada's
requirements at a price ranging from $500 to $1,750 a year,
depending on the applicant's financial statements and credit
Major trade groups had warned officials in Nevada that it would
be difficult, if not impossible, to find a company willing to
underwrite a bond that would comply with the law, which goes into
effect Oct. 1.
Under the law, the bond must cover consumers hurt as a result of
travel agent fraud or misrepresentation, bankruptcy and breach of
The law also gives non-ARC travel sellers the option of putting
up $50,000 in the form of a certificate of deposit or letter of
Buchanan said, "[ARC Bonding writes] bonds for sellers of travel
in 13 different states that require bonds, and the fact is that
actual losses in the past few years have not been very much at
He said application forms can be downloaded from his firm's Web
site, at www.arcbonds.com.