Funds received by Victor in payment for flights and seats from members will be paid directly into a client deposit account and held in trust until such time as the payment becomes due to flight operators. Payment for flights will be made to the operator from the client deposit account in sufficient time to clear the operator’s account in full, at least 24 hours prior to the last-time close of banking (during normal banking hours) before the flight departure time.
Through the use of a client deposit account for all member payments Victor offers members complete peace of mind, and the security of knowing that their monies paid to Victor for flights or seats can only ever be used to pay the operator for the flights or seats they have booked. In the event that Victor has an administrator, receiver, trustee or any other person or entity appointed over a part or all of its assets or business, such entities will have no claim over the funds held in the client deposit account which will be available solely for the payment of monies owed to the operator.
In the event of a member cancelling their confirmed flight, and where cancellation fees fall due as set out in the operator’s terms and conditions, then member funds which are held in the client deposit account will be used to settle any cancellation fees owed to the operator before any balance of funds are then returned to the member.