ESCROW SERVICE

Our customized technology and experienced staff deliver the protection and dependability to support your financial controls and compliance.

Part 380 Charter

Designed to meet the depository and escrow accounting needs of charter operators and direct air carriers, our Charter Escrow service is in compliance with U.S. Department of Transportation regulation part 380. Other entities acting as charterers, such as cruise lines, travel agencies, or independent contractors, may also find this service improves financial controls and compliance.

Air Carrier Escrow

Air carriers can establish a DOT escrow account with Shelby Financial to receive funds from charter and tour operators. Escrow account reporting clarifies when funds can be disbursed, which improves air carrier cash forecasting and financial controls. Depository agreements are
provided for submission to the U.S. Department of Transportation.

Compliant Part 380 Charter Services available. Contact us today.

Bank Escrow Account

Shelby Financial’s Bank Escrow account service is compliant with U.S. Department of Transportation requirements. Online banking provides access to deposit, payment, and monthly statements. Shelby Financial’s deposit reporting includes detailed passenger and flight information as well as payments to air carriers and service providers.

Surety Trust Agreement

The U.S. Department of Transportation accepts a Surety Trust Agreement, surety bond, or letter of credit. Any tour operator or other qualified charterer can obtain a Surety Trust Agreement collateralized by cash through Shelby Financial, provided that the surety holder also maintains an appropriate escrow account with Shelby Financial for the escrowing of passenger funds.