Tico Chapter 1 Study Guide Questions And Correct Answers

Compensation Fund: {Ans: - Industry-financed fund administered by TICO.}Outside Sales Representative {Ans: - 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.}**Consumer Fund Claims:** {Ans: - Consumers can claim against the Fund for non-provision of services. - Limited to bankruptcy/insolvency of registrant or end supplier failure.}Consumer Claims {Ans: - Claims against the Fund only for: - Bankruptcy/insolvency of a registrant. - Failure of an airline or cruise line end supplier.}Travel Agent: {Ans: - Legal term for a person selling travel services to consumers on behalf of another - Can refer to both individuals and businesses. - The terms "travel retailer" and "travel agency/website" are used interchangeably.}Registrant: {Ans: - Registered travel retailer or wholesaler in Ontario.}