Travel glossary
Payment schedule
A payment schedule splits a booking's price into instalments, such as an advance, a mid payment and a balance, each with a due date.
Payment schedules are common for high-value trips, groups and MICE events. Collecting the balance before departure protects cash flow.
Related terms
Related terms
Profit per bookingProfit per booking is what a travel business earns on a single booking…MICEMICE stands for meetings, incentives, conferences and exhibitions: bus…GIT (Group Inclusive Tour)A GIT is a travel package for a group travelling together on the same …Travel voucherA travel voucher is a document confirming a booked service, such as a …
FAQ
Common questions
What is Payment schedule?
A payment schedule splits a booking's price into instalments, such as an advance, a mid payment and a balance, each with a due date.
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