ASTA VTA key terms

A legal obligation to act in the client's best interest, prioritizing their needs over the advisor's own gain and disclosing any conflicts of interest.

A situation where an advisor's personal or financial interests could improperly influence their professional judgment, requiring disclosure or avoidance.

Professional liability coverage protecting travel advisors against claims of negligence, mistakes, or failure to perform professional duties.

Legal responsibility for harm caused by professional services, often covered by insurance to protect against malpractice claims.

A commission or bonus paid by a supplier to an advisor or agency, often based on sales volume, which must be disclosed if it could influence recommendations.

A percentage of the sale price paid by a supplier to the travel advisor or agency as compensation for booking their product.

A charge added by the travel advisor or agency to the client's bill for professional services, separate from supplier commissions.

The practice of clearly informing clients about all fees, commissions, and charges before they commit to a purchase.

Open and honest communication with clients about pricing, commissions, supplier relationships, and any potential conflicts of interest.

The ethical duty to protect client personal information, such as passport details and travel preferences, from unauthorized disclosure.

Laws and practices governing the collection, use, and protection of personal data, including client information handled by travel agencies.

The General Data Protection Regulation, a European Union law that sets rules for handling personal data of EU residents, affecting global travel businesses.

Payment Card Industry Data Security Standard, a set of security requirements for organizations that handle credit card information.

Airlines Reporting Corporation, an organization that accredits travel agencies to issue airline tickets and provides settlement services between agencies and airlines.

International Air Transport Association, a trade association that accredits travel agencies and sets standards for airline ticketing and settlement.

A wholesaler that buys airline tickets in bulk and resells them to travel agencies, often at discounted net fares.

A reduced-cost or complimentary trip offered by suppliers to travel advisors to experience a destination or product for professional development.

A visit to a hotel, resort, or other travel supplier to evaluate facilities and services for future client recommendations.

A travel advisor who has completed specialized training and certification about a particular destination to provide expert advice.

A specialized segment of the travel market, such as luxury, adventure, or solo travel, that an advisor may focus on to differentiate their services.

A specific group of potential clients that a travel agency aims to serve with tailored marketing and services.

A fictional representation of an ideal client based on market research, used to guide marketing and service strategies.

A structured process of asking questions to understand a client's travel preferences, budget, and requirements before making recommendations.

A communication technique that involves fully concentrating, understanding, responding, and remembering what the client says.

Customer Relationship Management, a system or strategy for managing interactions with current and potential clients to improve service and sales.

The practice of contacting clients after a sale or inquiry to ensure satisfaction, build loyalty, and encourage repeat business.

Strategies and practices aimed at keeping existing clients satisfied and loyal to reduce churn and increase repeat business.

A recommendation of a travel advisor's services by an existing client or partner to a new potential client.

Building and maintaining professional relationships with suppliers, colleagues, and potential clients to generate business opportunities.

An industry event where travel suppliers exhibit products and services, and advisors can network, learn, and negotiate.

A written document outlining a travel agency's goals, target market, services, marketing strategies, and financial projections.

The movement of money into and out of a business, critical for managing expenses, supplier payments, and client deposits.

A financial arrangement where funds are held by a third party until contractual obligations are met, often used for client deposits.

A separate bank account used by travel agencies to hold client funds, ensuring they are not commingled with operating funds.

A self-employed travel advisor who works under an agency's host agency arrangement, responsible for their own taxes and expenses.

A larger travel agency that provides support, supplier access, and accreditation to independent contractors or smaller agencies.

A contract between an independent contractor and a host agency outlining responsibilities, commission splits, and terms of the relationship.

A reversal of a credit card payment initiated by the cardholder's bank, often due to disputes over services.

Terms specifying the conditions under which a booking can be canceled and any penalties or refunds that apply.

The legal terms governing a travel booking, including payment schedules, cancellation policies, and liability limitations.

A client's agreement to a travel arrangement after being fully informed of risks, costs, and terms.

An official notice issued by a government or travel authority warning travelers about risks in a specific destination.

The legal and ethical obligation of a travel advisor to protect clients from foreseeable harm by providing accurate information and warnings.

Professional liability coverage protecting travel advisors against claims of negligence, mistakes, or failure to perform professional duties.

Airlines Reporting Corporation, an organization that accredits travel agencies to issue airline tickets and provides settlement services between agencies and airlines.

International Air Transport Association, a trade association that accredits travel agencies and sets standards for airline ticketing and settlement.