THE ONLY THING that might erase some of the bitterness travel agent Mike Davidoff feels about his recent Jamaican experience would be reimbursement of approximately $1,700 he says he was forced to spend as a result of his collision with the island's legal system.

Davidoff, 38, president of Jet Set, Inc., in Rockville, Md., a Washington area travel company, also feels less than enthusiastic about his stay at the Negril Beach Village Hotel, where he says his problem began.

It was at the end of a cruise offered by the hotel, Davidoff recounted wryly last week, that he learned there was a $20 charge for the outing. The agent said that upon his return to the hotel dock he paid with one of two $100 bills he was carrying with him and received change.

'The next morning at breakfast I was told the $100 bill was no good and that management had called the police."

But the time his ordeal had ended, Davidoff said, he had spent nearly $1.700. He listed his expenses as $500 for the fine; the two =100 bills confiscated as evidence when authorities claimed they were counterfiet; $150 in lawyer's fees: $100 in phone calls; $100 in cabs fares for his wife; $400 travel expenses for a friend who had to fly in from the United States (to bring Davidoff enough cash for his needs), and $200 to enable the agent to fly home Jamaica authorities could not find either his apssport or the return airline ticket taken from him during the investigation, according to Davidoff.

The jamaica Tourist Board, through its New York public relations representative, issued the following statement last week in response to a request for comment on the Davidoff case.

"There has been an exchange of notes and a meeting between the U.S. embassy and the Jamaica government. A reply was sent to the U.S. State department and embassy by the foreign minister. Jamaica has indicted it is prepared to investigate the circumtances."