TICO - Module 2 with Complete Solutions

Common Travel Problems - ANSWER-Result from the actions or arrangements travel suppliers make. Eg. physical injuries delays and cancellations overbooking discrimination lost, damaged, or stolen baggage, and misrepresentation concerning transportation, accommoda- tion, tours, and other travel services Ontario, Quebec, and British Columbia use the following to protect consumers: - ANSWER-registration system posting of security a compensation fund trust accounting truth in advertising supervision/educational requirements Registration System - ANSWER--Illegal for travel agents/travel wholesalers to carry on their business if they are not registered with the province -Companies must meet certain criteria in order to obtain a license from the province Posting of Security - ANSWER-Ontario requires new registrants to post a security deposit of $10,000 The Registrar retains these funds until: - after the registrant has filed two consecutive annual financial statements - the Registrar is satisfied with the registrant's compliance compensation fund - ANSWER-Each of the three provinces has a compensation fund The funding, administration and coverage of the compensationfund varies from province to province. Trust accounting - ANSWER-All three provinces impose trust accounting on travel companies