TICO Approves Compensation Fund Claims
On May 13, TICO’s board of directors approved payment of $60,632.30 to assist 43 consumers who did not receive the travel services for which they had paid.
The payment was due to the closure of Amigo Travel Ltd. in Toronto ($7,647.30) and Sky Asia Travel in Toronto ($52,985).
The Ontario Travel Industry Compensation Fund is wholly financed by the industry to protect consumers who do not receive the travel services for which they paid, due to the insolvency or bankruptcy of an Ontario-registered travel agent or travel wholesaler or due to the cessation of an end supplier airline or cruise line. The Fund only covers consumers who have booked through an Ontario-registered travel agent.
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