Glossary of Industry Terms
A tour designed to focus on preserving the environment, or to environmentally sensitive areas.
A tour designed around an educational activity, such as studying art.
The process of monitoring important forces in the business environment for trends and changes that may impact a company.
Errors and Omissions Insurance
Insurance coverage equivalent to malpractice insurance, protecting an agent’s or operator’s staff if an act of negligence, an error, or an omission occurs that causes a client great hardship or expense.
See tour director.
Escorted group tour
A group tour that features a tour director who travels with the group throughout the trip to provide sightseeing commentary and coordinate all group movement and activities.
Funds placed in the custody of licensed financial institutions for safekeeping. Many contracts in travel require that agents and tour operators maintain customers’ deposits and prepayments in escrow accounts.
A fully arranged sub-tour offered optionally at extra cost to buyers of a tour or cruise. Extensions may occur before, during, or after the basic travel program.