TICO announces consultation for new funding framework, fee model

TICO announces consultation for new funding framework, fee model

MISSISSAUGA — TICO management is planning a consultation period with registrants and other stakeholders on a new funding framework and fee model.

The consultation period will start in September, said TICO in a memo to registrants, adding that further details and timing of sessions, including the process for registrants to provide feedback, will be shared soon.

As TICO notes, the COVID-19 pandemic has devastated Ontario’s’ travel marketplace. “TICO’s consumer protection role during this period has also been challenged,” says TICO in its memo.

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, notes TICO.

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

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

“Registrant feedback and input are critical in shaping TICO’s future funding model in support of its consumer protection mandate. Your participation and engagement in this review process is greatly appreciated.”