Exam (elaborations)
TICO Module One
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Exam of 7 pages for the course TICO Module One at TICO Module One (TICO Module One)
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TICO Module OneJune 25, 1997 - -The ON government delegated the administration of the
Travel Industry Act to the Travel Industry Council of Ontario.
-TICO - -Travel Industry Council of Ontario
-TIA - -Travel Industry Act
-Travel Industry Compensation Fund - -Refunds (fully or in part) eligible
consumers who bought travel services from an Ontario-registered travel
agency but did not receive them because of the bankruptcy or insolvency of
a registrant or an airline or cruise line end supplier.
-End supplier - -A person that operates a travel service for which they have
owner-ship. Examples of end suppliers include airlines, cruise lines, hotels
and car rental companies.
-Do end suppliers need to be registered under the travel industry act, 2002?
- -No, provided that they do not otherwise act as a travel agent or travel
wholesaler in Ontario.
-The Travel Industry Compensation Fun does not cover the non-provision of
travel services by an end supplier except for... - -Airlines and cruise lines
-Who is TICO financed by? - -The registration fees of travel agencies and
travel wholesalers registered in Ontario. Those same agencies and
wholesalers also finance the Travel Industry Compensation Fund.
-What is TICO? - -This is a not-for-profit corporation that regulates, and is
financed by, the retail and wholesale travel community.
-What does the Act govern? - -Travel retailers and wholesalers registered in
Ontario.
-Who is currently responsible for consumer legislation in Ontario, including
the Travel Industry Act, 2002? - -The provincial Ministry of Consumer
Services / "the Ministry"
-How does TICO work cooperatively with the government on behalf of the
travel industry and the consumer? - -- holds regular liaison meetings with
the Ministry to maintain communications and address issues
, - consults with the Ministry on policy and legal issues to ensure that the
legislation remains relevant to all three stakeholder groups - government,
the travel industry, and consumers
- works with the Ministry to move recommendations forward through the
legislative process. This was the process used to develop the changes that
resulted in the Travel Industry Act,2002
- works with the Ministry to finalize outstanding items on the Administrative
Agreement, the document setting out the responsibilities of TICO as the
administrative authority for the Ontario travel industry.
-What is TICO required to submit to the Ministry? - -An annual report and an
annual business plan. These documents outline TICO's financial position,
discuss issues that have arisen, describe the organization's achievements in
the past year, and set objectives for the coming three years. Both documents
are posted on the TICO website at www.tico.ca.
-What is TICO managed by? - -A Board of Directors and a CEO.
-What is the Board made up of? - -15 members: 10 representatives from the
travel industry and 5 individuals appointed by the Ministry to represent
consumers, business, and government.
-What is the Board responsible for? - -Overseeing the general operation of
TICO (and not the day-to-day operations) and for hiring the CEO.
-What does the CEO manage? - -The financial and operational affairs of
TICO.
-How does the Board carry out its work? - -Through committees, which
research, consult, and make recommendations to the Board. For example,
committees make suggestions for industry improvement and legislative
changes, and help form and over-see TICO's policies
-Board committees - -Alternate Finance, Audit, Business Strategy,
Compensation Fund, Complaints, E-Commerce, Executive, Governance,
Legislative and Regulatory Review, Education Standards.
-Alternate Finance. - -Board committees. Makes recommendations to the
Board with respect to alternative methods of financing the Travel Industry
Compensation Fund.
-Audit - -Board committees. reviews internal controls, accounting and
invest-ment policies, investment reports, and financial statements of the
organization and reports to the Board.
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