Settlement and Bonding

Settlement - Direct Debit Mandate
Settlement of ticket sales by retailers is carried out exclusively through Direct Debit and it is essential that the bank mandate is set up in advance of the retailer entering pilot.

The Direct Debit mandate can be downloaded here:   document Direct debit mandate 2023 (77 KB)

Bonding
All retailers must obtain a bond, guarantee or other agreed form of security before entering pilot and this must be maintained for as long as the retailer sells rail products.

The value of this bond, guarantee or security is calculated by RSP (Rail Settlement Plan) and in most cases, is roughly equivalent to 6-8 weeks of sales. A bond monitoring spreadsheet will be set up by RSP and used to calculate the required bond value of each Period.

The bond, guarantee or security will be called on if the retailer fails to make a payment on the due date.

The Bond Template can be downloaded here 

Travel Agents Reserve Insurance Fund (TARIF)
A possible alternative to providing bond cover for a TMC (Travel Management Company) is to join the industry TARIF scheme, based on a commercial insurance policy procured by RDG on behalf of the participating TMCs.

This scheme is open to TMCs who have a minimum of three years’ rail retailing experience with no history of payment default.

For more information on settlement and bonding/TARIF arrangements please contact This email address is being protected from spambots. You need JavaScript enabled to view it.