Business Terms

Business Terms templates configured with a number of conditions that Travel Ledger uses to drive the settlement process. Business Terms are a mandatory element of each commercial link as they define the specifics of each partner relationship on the platform, for example the duration of the buyer review window and whether weekends are factored in or not.

Below is an overview of the Business Terms page which can be found under Partners -> Business Terms:

Please note that Business Terms are not "permanently attached" to a Commercial Link, they are simply used to speed up the set-up process as they can be used across more than one CL.

Although the Business Terms are built into a Commercial Link at time of creation, if the Business Terms are then changed at a later date, these changes will update within the existing Commercial Links and update them to reflect the modified Business Terms.

It is important to note, that if a Commercial Link has associated bookings that have been accepted or amended and they have entered a settlement cycle, then these changes to the Business Terms will not apply to those bookings, only to any future bookings that have not yet entered a settlement cycle.

Note: once created Commercial Links cannot be modified, only cancelled and recreated.

Once Business Terms are configured, the next step is:

Settlement Schedules