Financial requirements and dates for groupsAll commissions must be reconciled and input into crm in order for commission to be paid out. The comp is paid by you by way of a credit card refund to the client after all guests have paid their final balance and you have accounted for all guests and done final accounts reconciliation. No refund is made to the client until all pax have paid and final numbers are completed. In my client contract it states that the comp is paid on same room type, same gateway, same duration and not on single triple or kids. Sometimes this is different to tour op comp so you may have to pay out less than you actually get but that is something you decide. I always charge the bride and groom last and a bit late as per my final payment date but before the tour operator final payment date so I can only charge them the final payment they owe less the comp without having to issue a refund. For example a group of 50 passengers. I would set final payment 15 days prior to the final payment date of the tour operator. I would get everyones payment except the bride and groom. Then once I have all of the payments and it is confirmed by the payment list and the invoice then I charge the bride and groom according to the amount they owe less the comp. It is extremely important to reconcile everything before issuing a refund or charging the bride and groom. If there is confusion then just charge the bride and groom the full amount and then refund later but it must be refunded to the client directly before you claim commission.!1Each group should have at least three reconciliation dates. 1. Ist set release date... usually 90 days after booking.At the first release date for space to ensure you have released any extra space for your group that you don’t need and you have the correct number of rooms and room types.any seats should now be released and bride and groom should be informed just before you do this incase they wish to hold any extra seats but with a deposit that they will loose if they release them later. They often want to hold extra seats but they need to know that this is the case and they are on the hook for any sats after 90 days if they want to hold them.2. 90 days prior to travelif no activity on the group and no new additions then a group reconciliation at 90 days prior to travel and a rooming list sent to the tour operator and the client.if more activity during the booking process then I usually add an extra one in the middle somewhere. at this time you need to ensure you have all rooms as if the resort sells out there may be no chance of getting an additional room later. This is an important factor. Any seats that you may have at this time or cancellations can sometimes be released free of charge by the tour operator so YOU get to keep the deposit as commission but you must ask them to release a seat of a person who has cancelled rather that tell them this is a cancellation as they will then just charge you the cancellation fee. This is not something they will offer. CRM should be updated according to wether the pax has cancelled and it is loss of deposit or if deposit becomes yours.3. On Final payment. (your final payment) 15 days prior to Tour operator to allow for errors or delays.This is to make sure what you have is the same as what the tour op has. All money is accounted for. All payments are confirmed on the payment list and all passengers have a room in the room type they have booked. Also at this time all guests should have their final invoice with everything accounted for and the bride and groom have an account including their comp sent back to them. I always take off my commission and tax from the!2comp but this is something I set up with the client at the beginning in the contract. If the client is paying anything towards other guests it is at this time you have to financially account for this too. IE I have a client paying $250 per guest booked in a regular room. If they upgrade then they are not paying anything for them. i list this separately on the invoice with name of the passenger they are paying for .If you release seats early with the tour operator then they do not charge you therefore all cancellations from guests that you have becomes full commission to you. If you release after final payment then you are usually subject to cancellation fees and this can be up to 100% of the cost per passenger. You are fully responsible as the agent for this so it is very important to make sure that all cancellations are put in early so you are not penalized. Any person who pays after the final payment becomes a liability to YOU. If a client asks to pay late but then does not pay this becomes your loss and you will have to take this out of your commission if the tour operator chooses to stand firm on their rules. The way around this is to carefully manage all payments and ensure they are prior to the actual final payment date of the tour operator. Once you know someone has not paid you have to go straight to the bride and groom and put the responsibility on them. Tell them the client who has not paid and why and then ask them what they would like you to do.They have three choices. A. to talk to the client themselves and get payment. B. To sign a form to you to accept financial responsibility of the client ends up cancelling and there are penalties. They must sign to accept this in writing. C. To cancel the client on the final payment date with loss of deposit that can not be reinstated. At this time you can ask the tour operator to release that space without loss of deposit. It sometimes works although its a bit cheeky.This removes your financial responsibility and should the client just cancel late as they can’t afford it or they found it for less then you charge the bride and groom as per their agreement. This happened to me with the brides parents and a group of 6 people in total in 2009. They found it for less on expedia and didn’t tell me and I got!3shafted for being a nice person and not cancelling the BRIDES parents. It cost us $4,000. It was a huge lesson to me to not be nice.Lastly always match up payments with credit cards. Make sure what you think has been paid actually has been paid in the tour operator eyes. In the past I once put a payment through on a wrong file so I couldn’t figure out why I had money missing. I send the last four digits into the tour operator and found the money on another of my groups. It is very important to reconcile every single payment and name and room type and departure gateway.!
Concierge Travel Group Proudly TICO registered and certified agency 50021829. (289) 273-8095 email@example.com Registered address 32 college street, Fonthill Ontario. L0S1E0