TICO To Consult On Funding Framework, Fee Model

The Travel Industry Council of Ontario (TICO) is planning on consulting with registrants and stakeholders on a range of issues and challenges relating to the current funding framework and fee model.

Consultations are set to begin in September, with TICO noting in its announcement of the sessions that the COVID-19 pandemic has devastated Ontario’s’ travel marketplace and TICO’s consumer protection role during this period has also been challenged.

It notes that following a series of communications and regulatory amendments which came into effect March 30, 2020, registrants have experienced reduced reporting requirements as well as renewal fee and payment waivers owing TICO through to March 31, 2022. The pandemic has also highlighted issues and challenges associated with the current funding framework and fee model.

TICO continues that following a comprehensive review, management is planning a consultation period with registrants and other stakeholders beginning September 2021. Further details and timing of sessions, including the process for registrants to provide feedback, will be shared soon.

A review of the funding and fee model has been completed and subject to input, TICO is proposing changes aimed at improving transparency, fairness and equity for fees charged to registrants.

Further details concerning these proposed changes and how you can participate in the consultation, will be supplied via a consultation document which will be sent to registrants shortly.

TICO also makes it clear that registrant feedback and input are critical in shaping TICO’s future funding model in support of its consumer protection mandate and it is encouraging participation in the process.

Go to www.tico.ca for more.