TICO Basics Exam Solved 100% Correct

Who is TICO? - ANSWER-TICO - Travel Industry Council of Ontario: - parallel organization with the government; - they administer the act; and - the government allowed this. When? - ANSWER-June 25, 1997, the act was put into place to protect the consumer MGS? - ANSWER-Ministry of Government Services What does TICO do? - ANSWER-Set standards and obligations for people representing a travel product: - registrants; - registered travel agent - tour opererators Why does TICO exist? - ANSWER-To educate and protect consumers, and the travel industry. How does TICO work? - ANSWER-Develope high standards and more efficient, effective and relevant regulatory mechanisms in: - consumer protection - consumer education and awareness - registration, inspeaction, supervision and discipline of registrants - investigating and mediating disputes between consumers and registrants Mediate? - ANSWER-Mediate is a third party, netural to dispute between main 2 parties. Mechanisms? - ANSWER-- Trust Accounting: protects consumers and their money for their exact travel package - Registration/Certification: any tour operator or agency needs to register and pay to be inline with TICO, to ensure a volume of jobs that are following the law What else? - ANSWER-Tico does: - regulating of advertising; - regulates the collection and disbursement of monies; - educates the consumers as to their rights - licenses travel businesses - retail and wholesale; and - protecting consumer funds - Compensation Fund TICO Mission - ANSWER-Is to promote a fair and informed marketplace where consumers can be confident in their travel purchases.