TICO Module 1 Graded A+

Tico - ANSWER-Is a not for profit corporation that regulates, and is financed by the retail and wholesale travel community On June 25, 1995 - ANSWER-The government delegated the administration of the Travel Industry Act to the Travel Industry Council of Ontario What does TICO stands for - ANSWER-Travel Industry Council of Ontario TICO is also responsible for - ANSWER-Industry financed Travel Industry Compensation Fund. The act governs travel retailers and wholesales registered in Ontario. Travel Industry Act - ANSWER-Was found in 2002 End supplier - ANSWER-A person that operates a travel service for which they have ownership. TICO is required by the ministry to? - ANSWER-Submit an annual report and annual business plan The provincial ministry of Consumer service is responsible for? - ANSWER-Consumer legislation in Ontario, including the Travel Industry Act, 2002 TICO is managed by? - ANSWER-A Board of Directors and a Chief Executive Officer(CEO). The board represents 15 members, 10 representatives from the travel industry, and 5 individuals appointed by the ministry to represent cosumers, business and the government. There are currently 10 Board committees TICO's mission is to? - ANSWER-Promote a fair and informed marketplace where consumers can be confident in their travel purchases. TICO's primary responsibilities are to - ANSWER-Administer the Travel Industry Act, 2002 and ensures that registrants follow the rules so that consumers are protected and can be confident in their travel purchases. TICO works with three groups to carry out its mandate. What are the three groups? - ANSWER-consumers, the travel industry, and the government. Registrant - ANSWER-A travel agent or travel wholesaler who is registered as a travel agent, travel wholesaler or both under the Travel Industry Act 2002.