The TCF is a trust fund administered by a Board of Trustees comprising nominees of each State Government that licenses travel agents, an equal number of industry representatives and a consumer representative. The TCF provides, as a last resort, compensation for consumers who suffer loss from dealing with a licensed travel agent. Each licensed travel agent will contribute to the TCF, but no travel agent will be admitted to membership of the TCF unless and until the Trustees are satisfied that the travel agent has sufficient financial resources to carry on business.
In order to admit you to membership, the Trustees will consider your financial position generally. Only if you have sufficient financial resources to carry on business as a travel agent will you be admitted to membership. If you are admitted to membership you will be required to regularly submit financial data and pay annual administration fees and other contributions to the TCF to pay for consumer losses arising from the collapse of other travel agents. The Trustees have the power to require bank or similar guarantees from travel agents whom they consider expose the TCF to excessive risk.
The application form for applying for participating in the Travel Compensation Fund and information concerning the financial criteria used in determining applications for membership are available from:
Travel Compensation Fund
Level 3 / 15 Castlereagh Street
SYDNEY NSW 2000
Telephone: (02) 8227 3500
Facsimile: (02) 8227 3535
Website:http://www.tcf.org.au/
You must lodge the application direct with the TCF in Sydney.
If, at any time, your membership is discontinued by the TCF, your licence will be cancelled.
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Information on copyright for the Office of Consumer and Business Affairs website is provided on behalf of South Australia Central http://www.sacentral.sa.gov.au/site/page.cfm?u=60
Disclaimer
Information on the disclaimer for the Office of Consumer and Business Affairs website is provided on behalf of South Australia Central http://www.sacentral.sa.gov.au/site/page.cfm?u=61
Privacy
The South Australian Office of Consumer and Business Affairs (OCBA) is committed to protecting your privacy and the confidentiality of your personal information, consistent with the South Australian Government's Information Privacy Principles. If you would like to view the full privacy statement please visit: http://www.ocba.sa.gov.au/privacy.html
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