Commercial Agreement Basic Concepts.

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Presentation transcript:

Commercial Agreement Basic Concepts

Prices: Most important part of the agreement. How much does it cost? Commission: A percentage of the price given to the business that assisted the sale/reservation. Deduction: Reductions of the official price granted to businesses.

Quota: The quantity of rooms reserved ahead of time without giving the name of the client. Number of rooms blocked for only the agency until the release.

Release: (2 definitions) – time given for a quota, the least amount of time available to confirm a reservation before its deadline. Time established to cancel a reservation with the entitlement to receive a partial or full refund. Time and types of payments: Time given to businesses that previously were given a loan to pay their bills, usually no less than 30 days. (By bank transfer, money wire, cheques, credit cards, etc)