The Airline Reporting Commission requires a $20,000 bond. In lieu of a bond they will take cash as a security deposit or a letter of credit from an approved bank. The ARC requires that the surety company, should you elect to get a bond, must be on the United States treasury list. The bond simply guarantees that the travel agency will pay the airline for any ticket purchased. This is the case even if the travel agency has not been paid by the customer. The bond can be purchased without financial disclosure however the applicant must have an excellent credit rating.