TICO Chapter 1
**Commissions Repayment by Registrant:** - correct answer-- If services are not received,
registrants repay commissions.
- Excludes counseling fees.
- No double reimbursement if the Compensation Fund already paid.
**Consumer Fund Claims:** - correct answer-- Consumers can claim against the Fund for
non-provision of services.
- Limited to bankruptcy/insolvency of registrant or end supplier failure.
**Filing Deadline Reminder:** - correct answer-- Standard claim within six months.
- Trip completion expense claim within six months after registrant failure.
- Late claims are not valid, and TICO has no authority for late approvals.
Commissions Repayment: - correct answer-- If a customer hasn't received paid services, the
registrant repays commissions.
Compensation Fund: - correct answer-- Industry-financed fund administered by TICO.
Consumer Claims - correct answer-- Claims against the Fund only for:
- Bankruptcy/insolvency of a registrant.
- Failure of an airline or cruise line end supplier.
Filing Deadline: - correct answer-Standard claim within six months of failure.
- Trip completion expense claim within six months of registrant failure.
- No valid claims accepted after the specified time period.
Licence Appeal Tribunal (LAT): - correct answer-- Independent tribunal hearing appeals
related to TICO decisions.
Outside Sales Representative - correct answer-- A travel counsellor working outside the
registered office.
- Sales must go through the registered travel retailer.
- May work for a travel wholesaler contacting retailers.
- Bound by laws and needs a written contract.
Registrant: - correct answer-- Registered travel retailer or wholesaler in Ontario.
Registrar: - correct answer-- Appointed by TICO's Board of Directors.
- Supervises Act and Regulation administration.
- Up to two Deputy Registrars.
Regulatory Structure: - correct answer-- Ministry of Public and Business Service Delivery:
- Oversees the Travel Industry Act, 2002.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Hkane. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.
