Settlement of disputes
27.—(1)  No licensee shall wilfully refuse or without reasonable excuse neglect to settle a dispute between the licensee and a client concerning —
(a)the cancellation of any booking of a tour or vacation; or
(b)the contractual obligations, whether express or implied, of the licensee in respect of a tour or vacation.
(2)  Where the licensee has reached a settlement with the client under paragraph (1), the licensee shall inform the Board in writing of the terms of the settlement within 7 days from the date of settlement of the dispute.
(3)  Where a mutual settlement has been reached between the licensee and the client, the licensee shall faithfully observe and comply with the terms of the settlement.