GUARANTEES AND COMMITMENTS

12 Months Ended

Dec. 31, 2018

Statements [Line Items]

GUARANTEES AND COMMITMENTS [Text Block]

18. GUARANTEES AND COMMITMENTS

	Total	Year 1(3)	Year 2	Year 3	Year 4	Year 5+
Operating leases(1)	$ 7,401	$ 1,945	$ 1,820	$ 1,761	$ 1,731	$ 144
Direct cost of principal revenue(2)	466,947	144,527	83,416	78,582	53,474	106,948
	$ 474,348	$ 146,472	$ 85,236	$ 80,343	$ 55,205	$ 107,092

(1)	The Corporation is obligated under various non-cancellable operating leases for premises and equipment and service agreements for web hosting services.
(2)	For certain loyalty partners, the Corporation guarantees a minimum level of purchase of points/miles, for each contract year, over the duration of the contract term between the Corporation and loyalty program partner. Management evaluates each guarantee at each reporting date and at the end of each contract year, to determine if the guarantee was met for that respective contract year.
(3)	The guarantees and commitments schedule is prepared on a rolling 12-month basis.

The Corporation leases office premises, equipment and services under operating leases. The leases typically run for a period of 1 to 7 years, with an option to renew the lease after that date. During the year ended December 31, 2018 an amount of $2,105 was recognized as an expense in profit or loss in respect of operating leases (2017 - $2,011).