A reconciliation period applies after hospitality, office space, charter, or conference services are provided. The reconciliation period is analogous to attorney trust accounts, awaiting third-party vendors to submit charges, and to resolve any disparities with client or internal accounting. Normally, the default period for standard reconciliation is within a month of the conclusion of relevant services. Longer periods apply for multinational, nautical, and S or TS protocols. The payable period normally begins at the conclusion of the reconciliation period.
Not Liquidated Damages
Deposits are not considered liquidated damages, and therefore separate payments would need to be made to cover excess charges or damages beyond deposit amounts.
We are obviously not in the business of deposits, and we do not want anyone focused on that issue (execpt as a deliberate discouragement to basic consumer travelers). In an effort to mitigate any related unpleasantness, credit balances accrue interest at ten percent interest annually, compounded daily.
Issuances of Refunds
Generally Net 30 after Completion of Reconciliation
We follow our core business customs of commercial accounting (particularly aligned with the culture of attorney-trust accounts), systematic corporate or government protocols, and compartmentalized confidentiality. After all of the related expenses have been resolved, and we have been provided with final accounting of reimbursable expenditures, processing of accounts payable is normally on a net 30 basis. Actual times vary based on simplicity (often less time), complications, or reconciliation difficulties of Client expenses (may be more time). Longer periods apply with complex protocols and under extraordinary circumstances, for which we would cooperate with you. Special expenses, multifaceted damages, and non-matched payment methods can cause delays beyond these guidelines.
The duration for processing refunds would be awkward for many travelers, for which we respectfully suggest the following considerations, on which you can click for more information.
- An attorney trust account would generally provide superior benefits to a client compared to a deposit with us, and obviates the need for a deposit with us.
- Deposits deliberately provide the salience that we are not structured to provide mass-market hospitality, or services in alignment with basic consumer affordability.
Prepaid Available Balance
- If we do not have a feasible, legal (in the opinion of our specialist counsel), or dependable payment method, an unrestricted credit normally would remain in your account until you coordinate with us for an alternative payment method, or until applied toward future invoices.
- Please contact us if you would prefer to maintain an unrestricted account credit instead of a refund.
- There usually is no penalty for canceling a directly placed reservation. Cancellations that occur prior to an available cancellation window are refunded. Thereafter, in accordance with the cancellation policy, part or all of the funds are applied as an unrestricted, transferable prepayment for future services.
Credit balances accrue ten percent interest annually, compounded daily.