Laws and Regulations Applicable to the Travel Industry - Institut de ...

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Check list Administration of funds (continued) Penal liability Compliant Noncompliant First offence Repeated offence Do you use the trust account solely to: • pay suppliers on behalf of the customer; and/or • reimburse or pay service fees incurred on behalf of the customer; and/or • reimburse amounts owed to the customer; • collect your commissions. $2,000 to $100,000 $4,000 to $200,000 Do you make sure that the trust account is not overdrawn or showing a deficit? $2,000 to $100,000 $4,000 to $200,000 Do you attach a statement of your trust account when filing your financial statements? $1,000 to $40,000 $2,000 to $800,000 Do you verify that only authorized persons conduct transactions in this account? $2,000 to $100,000 $4,000 to $200,000 Do you keep your accounting books and records up to date? $1,000 to $40,000 $2,000 to $80,000 Do you remit the FICAV contributions to the OPC on time? $1,000 to $40,000 $2,000 to $80,000 Fancyfree Agency Inc. PLEADS GUILTY The Office de la protection du consommateur reports that the Fancyfree Agency Inc. pleaded guilty for failing to remit its FICAV contribution to the OPC president within the time provided (s. 40, T.A.A.) The company will have to pay a penalty totalling $1,260. Topic 2 – Administer Funds • Unauthorized reproduction prohibited 25
By satisfying all of these responsibilities and obligations, your customers are assured of doing business with a reliable travel agent. Once you comply with the requirements of this topic, you are ready to move onward in the process for obtaining a travel agency operating licence. It is now up to you to evaluate your level of knowledge of this topic. Test yourself After reading this topic, I am able to Totally Partially Minimally 1. define the individual security, a trust account, and the Compensation Fund for Customers of Travel Agents (FICAV). 2. understand the purpose of the various funds administered by a travel agent. 3. know how much the individual security should be and how to provide it. 4. determine the contribution amount payable to FICAV. 5. present my accounting records. 6. know the penalties for certain offences from failing to respect the Law. Total Keep working! Review this topic or go to the next one. 26 26 Laws and Regulations Applicable to the Travel Industry: Textbook for Travel Professionals
Page 1 and 2: Laws and Regulations Applicable to
Page 3 and 4: Laws and Regulations Applicable to
Page 5 and 6: SECOND FOREWORD The Office de la pr
Page 7 and 8: TOPIC 3 — OPERATING WITH A LICENC
Page 10 and 11: A WORD FROM THE AUTHORS This Guide
Page 12 and 13: This topic refers more specifically
Page 14: MODULE I OPERATING A TRAVEL AGENCY:
Page 17 and 18: use of part of the income from the
Page 19 and 20: Figure 1 Structure and Responsibili
Page 21 and 22: Did you know that… According to t
Page 23 and 24: Did you know that… It is the Cour
Page 25 and 26: Do you know… How much time the cu
Page 27 and 28: 1.2.4.2 What is the role of the com
Page 30 and 31: ADMINISTER 2FUNDS At the end of thi
Page 32 and 33: You are authorized to withdraw fund
Page 34 and 35: Individual security amount to provi
Page 36 and 37: Contribution to FICAV Accumulated s
Page 40: Answers 1. False. The customer has
Page 43 and 44: Test your knowledge True or False 1
Page 45 and 46: Did you know that… An association
Page 47 and 48: Typical example Specimen: Travel Ag
Page 55 and 56: 3.1.4 Licence renewal Do you contin
Page 57 and 58: The information provided through th
Page 59 and 60: Check list Licence Penal liability
Page 61 and 62: Supplementary readings and exercise
Page 63 and 64: Test your knowledge True or False 1
Page 65 and 66: Did you know that… … your certi
Page 67 and 68: Answers 1. False. Since January 1,
Page 70 and 71: 5 This PUBLICIZE YOUR PRODUCT OR SE
Page 72 and 73: Test your knowledge Based on your c
Page 74 and 75: Example Conviction for failure to c
Page 76 and 77: 5.1.3 Compliant written or printed
Page 78 and 79: Typical example Non-compliant adver
Page 80 and 81: 5.4 PENALTIES AND OFFENCES Clients
Page 82 and 83: DEALING WITH 6CUSTOMERS At the end
Page 84 and 85: What is an obligation of means or a
Page 86 and 87: According to case law, the liabilit
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To offset various problems that cou
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Now it’s your turn to assess your
Page 92 and 93:
PREPARING THE CUSTOMER’S 7DEPARTU
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7.1 DOCUMENT DELIVERY 7.1.1 Invoice
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Some websites include useful inform
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7.3 PRICE CHANGES Like every kind o
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Example Natural disaster Eruption o
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Checklist Billing Penal liability C
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To conclude the sale in the absence
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APPENDIX
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APPENDIX 1 (con’d)
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APPENDIX 2 (con’d) Travel Counsel
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APPENDIX 3 (con’d) Answers - Exer
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Debtor: Person who is required to f
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Travel agent: A person, partnership
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Laws and Regulations Applicable to
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