AGENT: Ripped Off!

[Hogpatrol]

I don't have a dog in this hunt but curious if an agent being bonded, albeit with proof provided by the bonding company, would verify the guy is legit and if things go south all monies would be returned. Also, I wonder if travel insurance would cover a loss in this case.

 

[Philip Glass]

I don't have a dog in this hunt but curious if an agent being bonded, albeit with proof provided by the bonding company, verify the guy is legit and if things go south all monies would be returned. Also, I wonder if travel insurance would cover a loss in this case.

Very good question. I do not think even the top travel insurance covers a fraud like this. It would be good for someone to research this and with he competition between Global Rescue and Ripcord right now maybe one of them can offer it.

 

[TheGrayRider]

I don't have a dog in this hunt either; however, I am definitely learning quite a bit. Again, I am personally distraught for the honest outdoorsmen and hunters who posted deposits that are now foregone due to no fault of their own. The hunting industry faces enough negative press without additional incidents like this one. I sometimes watch a documentary series on business cable television in the USA called "American Greed". I wonder if this fiasco qualifies? Happy hunting!

 

[Scott CWO]

I've mentioned this before on AH. Why is it that agents and even Outfitters are not bonded?

It is not all the expensive and would sure give clients a much more secure position. Seems it would be a great marketing tool. Especially for booking agents.

Or is there no one in the hunting industry with good enough credit to be bonded?

Outfitters in Colorado are bonded. Not sure about elsewhere.

 

[gblanke]

Thanks for letting us know of your situation. Where and what are you hunting? I am told we will not see a penny of our deposits. What a shame.
Philip

Philip, my wife and I were going to Greenland to hunt muskox and reindeer and spending time in Iceland on the front and back ends of our hunt. Now we are just staying in Iceland. May try to get some fishing in while we are there since we now have an extra 5 days there. Of course, those five days and possibly some fishing are an additional cost that we hadn't planned on. Still trying to stay positive and make the most out of that trip. Keep me posted on anything more you hear on GSS. Thanks, George

 

[Scott CWO]

I've mentioned this before on AH. Why is it that agents and even Outfitters are not bonded?

It is not all the expensive and would sure give clients a much more secure position. Seems it would be a great marketing tool. Especially for booking agents.

Or is there no one in the hunting industry with good enough credit to be bonded?

Old post but Colorado requires outfitters to be bonded. Not sure about other states.

 

[Scott CWO]

My company, has probably had to buy around 100 bonds in my business career as a requirement for contracts with local and state governments. Initially I had to show liquid funds for the value of the contract and personally guarantee the bond. My initial charge was around 3% if I recall correct. After proving we could complete contracts over a couple of years, we were only asked to provide company financials and the personal guarantee for the bonds. After 5-10 years, the bonds went down to around 1-1.5%.

As business grew, bonds were great for us since it eliminated a number of competitors who could not get bonded. This allowed pricing to increase 8-15% higher than a contract without bonding. This was the cost to the contracting agency to get a company where completion was guaranteed.

Agents and outfitters that are new to the business may have a difficult time getting bonded, unless they have other funds to act as collateral. If an outfitter is domiciled in Africa, probably the only way they could buy a bond in America to protect an American hunter would be to have an American bank account with funds equal to the bond/cost of the hunt, to act as collateral.

Your last sentence is probably the answer as well as the question.

Colorado outfitters have to be bonded.

 

[Mekaniks]

This an old thread. @Philip Glass and @gblanke did you ever get your deposits refunded or any money back?