ATOL is the only protection scheme for flights and air holidays sold by tour operators in the UK.
Essentially, it means that in the event of a tour operator failing financially, your holiday is protected. If this were to happen before you travel, ATOL will refund your money and you can book the holiday elsewhere, which we will obviously help you to do. If this happens while you are on holiday, then ATOL will cover the cost of the rest of your holiday so you can enjoy yourself and come home as planned. Throughout this whole process we would be on hand to help you and make sure that the inconvenience to you is as little as possible. You can check our ATOL arrangements on the Civil Aviation Authority (CAA) website.
The Global Client Account is essentially the same as ABTA bonding, it protects your money in the very unlikely event of failure of Silver Compass or the Global Travel Group. It is set up in the same way as a trust account. Money is held on behalf of third parties, namely the customer and suppliers, and the account is therefore not considered an asset of the company and is not available to creditors, liquidators or administrators should the Global Travel Group fail. All monies paid by the customer are paid into the Global Client account, no money is held by Silver Compass, so in the unlikely event of Silver Compass failing, the money will still be available to the Global Travel Group to pay for your holiday.
So you have nothing to worry about!