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Every industry has its own regulator – an authority that sets standards and improves the cooperation inside. The air travel industry is no exception. Its main goal is to regulate distribution-related activities in airlines and commercial aviation such as fare calculations, revenue allocation, and baggage rules.
Consolidators pass on net fares to travel agencies, charging a premium on top of each seat. In any case, travelagents get a good margin to earn money. Travel agencies add their own markups but still keep the prices lower than market rates offered by airlines. International flights vs domestic flights.
So, ARC or Airline Reporting Corporation is a company that regulates and handles transactions between airlines and US-based travel agencies. ARC Verified TravelConsultant (VTC): for non-ticketing travel professionals. What is ARC? Here’s a FAQ on the application process for more information.
In 2016, the McLaughlin-Sherouse List was published, which ranked all industries in the US according to RegData’s Industry Regulation Index showing the most regulated ones. So, let’s talk about IATA – one of the main regulators of the aviation industry. Source: Fine Art America. What is IATA? IATA’s mission and main purposes.
IATA accreditation for air travel: IATA vs IATAN vs TIDS International Air Transport Association or IATA is a global trade association of airlines that develops standards and practices for the aviation industry. IATA accreditation exists to verify travel agencies and control the revenue flow, and it’s accepted worldwide. How to apply?
In the US, four states have their unique Seller of Travel (SOT) Laws and licensing — namely, California, Florida, Washington, and Hawaii. Anyway, check your location for travel business regulations. If after the fifth check your ticket is still not ready, a travelagent has to get involved and complete the step manually.
Depending on the location, there may be very different regulations from those in your home country. The differences between the regulations could affect everything from marriage licenses to taxes. With the help of local wedding planners and travelagents, you can make sure that all your desired events come together.
Merchants also have to meet certain requirements to qualify – which is understandable since all financial institutions are required to adhere to KYC/AML regulations. This lender currently works with 200+ diverse travel partners including Kayak, United Airlines, Southwest Airlines, and Royal Caribbean. But worry not.
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