TICO Terms

3. the account used for operating expenses
9. current assets minus current liabilities
10. a person who administers or supervises the affairs of a business or office
11. Gov't appointed body to listen to suspend, revoke, refuse to grant or renew a travel business's registration
12. short-term debts a company owes to its suppliers & creditors
20. having a financial obligation, debt, claim or potential loss
21. where monies from consumers are deposited
22. acting honestly with no intent to defraud or take advantage
23. can be converted to cash within one year

1. a decision request to be considered by a higher authority
2. any action leading to claims on the Travel Industry Compensation Fund
4. a pressing necessity requiring immediate action
5. a formal legal statement to administer an oath
6. someone who wishes to be paid back for services not received
7. presentations, advertisements, brochures and websites
8. a not for profit corporation that regulates travel agents and travel wholesalers in the province
13. a travel agent or wholesaler who is registered with TICO
14. one who is associated with the registrant
15. a legal right or interest that a creditor has over another party's property
16. a legal term that refers to a short-term delay ordered by a judge or tribunal
17. refers to natural disasters, floods, hurricanes and "acts of God"
18. airlines,cruise lines, hotels and car rentals are ______ _________
19. compensation or reparation made by one party for the loss suffered by another