PTS Trust Compliance Guide

This guide explains the mandatory procedures for handling client funds in compliance with the Protected Trust Services (PTS) framework and UK travel regulations.

Key Principles

•Client Fund Segregation: All client funds are held in an independent trust account, managed by PTS, to ensure they are protected and separate from our business operating funds.
•Transparency: All transactions are tracked and reconciled within the PTS system.
•Consumer Protection: This process ensures that in the unlikely event of our insolvency, client funds are secure and can be refunded.

Mandatory Procedures

1.No Direct Payments: Agents are strictly prohibited from accepting client payments into personal or business bank accounts. This is a serious breach of both our policies and UK law.
2.Approved Payment Methods: All client payments must be processed through one of the following approved methods:
•PTS Secure Payment Link: Generated from our booking system for clients to pay by card directly into the trust account.
•Bank Transfer to PTS Trust Account: Clients can transfer funds directly to the PTS trust account. You must provide them with the correct PTS account details and a unique booking reference.
3.Accurate Record Keeping: Every payment must be accurately recorded in our booking system and reconciled against the corresponding booking.
4.Supplier Payments: Payments to suppliers are made directly from the PTS trust account, ensuring a clear audit trail.

Consequences of Non-Compliance

Failure to comply with these procedures is a serious breach of your Membership Agreement and may result in:
•Immediate suspension or termination of your membership.
•Forfeiture of commission.
•Legal action.
•Reporting to regulatory authorities.
By following these procedures, you are protecting your clients, your business, and the integrity of The JLT Group.