One-Month Reconciliation before Net 30 Payable
A reconciliation period applies after services are provided. Most services that we provide involve various reimbursable expenses and potential client liabilities, which often occur from unknown vendors, as well as identifiable ones. In turn, most of these vendors (especially venues, yacht services, security services, and specialty vehicle providers), likewise can charge us weeks (and sometimes more than a month) after services are provided, upon their own recognition of damages and third-party charges.
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.
We do not want anyone focused on deposits (except as a deliberate discouragement to basic consumer travelers). Deposits are merely a secondary operational manifestation (transactions) of a business (Dignitary Discretion) that is merely an ancillary service of our main business (CIC Legal Services).
Timing of Issuances
Normally Net 30
After Reconciliation with Vendors
After your related expenditures have been reconciled with vendors, and relevant providers have cleared your services as not having incurred any liabilities (such as damage, which is rare but a necessary provision), processing of accounts payable is normally on a net 30 basis.
Duration is subject to variation based on simplicity (shorter reconciliation time), abnormal complications, or reconciliation difficulties of special expenses incurred by the Client. Longer periods may apply with complex protocols and under extraordinary circumstances, for which we would cooperate with you. Complex expenses, multifaceted damages, and custom transactions cause delays beyond these guidelines.
If you continue to need hospitality or business services,
but need to modify your itinerary, or to seek different services,
we can almost always revise a reservation without the need for a complete cancellation.
Please contact your concierge for flexible, private restructuring of your reservation.
Considerations regarding the
Duration of the Issuance Process
- Alignments with Needs of Sophisticated Markets Governmental Subcontracting with SCI Secrecy Methodical Cost Accounting without Sensitive Disclosures Attorney-Trust Accounts Systematic Reconciliation and Disbursement Sensitive Acquisitions and Business Development Cautiously Compartmentalized Travel before a Deal is Closed
- Deterrent and Mitigation for Subsequent Intangible Damages Please click here regarding the matter of intangible damages (such as public disclosures).
Not Aligned with Basic Consumer Markets
The duration for processing refunds would be
awkward for some travelers outside of our niches. Deposits deliberately provide the salience that we are not structured to provide mass-market hospitality, or services in alignment with basic consumer affordability. The benefit of discouraging services to be reserved by non-sophisticated clients is a primary factor for why we classify refunds as being based on business-to-business customs of issuances of payables. Please click here for further insights.
No Deposits for Billing Accounts or Corporate Invoicing
Attorney Trust Accounts
Coordination with an attorney provides a variety of powerful benefits to clients.
As an ancillary benefit, using an attorney trust account obviates the need for a deposit with us. Invoicing Accounts Please click here if you are associated with our niche markets, and
if you are interested in establishing an invoicing account.
Significant Practical Differences with
Due Dates for Payments We respectfully acknowledge the disconnection between payment schedules and refund schedules.
There are significant practical factors for requiring payment upon placing a reservation.
- Considerations regarding the
Prepaid Available Balances
- If we do not have a reasonably feasible, fully lawful (in the opinion of our specialist counsel), or reasonably dependable (please coordinate with us) 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.
- If you qualify for a refund, but would prefer the transactional convenience of a prepaid balance. Please contact us if you 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 a prepayment for future services.
Refunds for Charges to
Your Credit or Debit Card
Payments via PayPal™
Refunds for PayPal™ payments are returned via PayPal™.
We cannot direct PayPal™ how to process your refund. Beyond six months after the initial remittance, and under some exceptional circumstances, payments are not necessarily refunded to your credit or debit card. Under such a circumstance, to refund your payment to your credit card, PayPal™ can be a convenient and efficient resource for depositing the funds into any checking or savings bank account of yours. You can then write a check as a payment to the original credit card, or transfer matching funds to the account of the original debit card. The same procedure generally applies worldwide.
If you have paid us by credit or debit card, but did not choose to use PayPal™, we had likely coordinated with you or your financial representative for protocols for your enhanced privacy of card charges.
Refunds for credit card payments that are made via external merchants can be issued to you via payments that can then be deposited into your bank account. Then, to apply the refund to the same credit card, simply make a payment to that card from your bank account.
Payments for your bank can be issued to you via cashier's check (domestic), PayPal™ (from which you can request a deposit to your bank account, and then make a payment to your card), wired funds, or other means.
Corporate Credit Card
If you used a corporate credit card, we respect careful efforts to reconcile exactly. We can issue a U.S.-based cashier's check (with verifiable details sent to you) and send it to your card's proper remittance address. By matching exact amounts on payments to the expected refunds, clients' accounting departments directly reconcile the credits and debits.Compliant Direct Payment
To bypass the steps of depositing a cashier's check from us, and then writing your own check to the card issuer, we can proceed with your request to issue an issuer-compliant payment, with the properly payable name (such as American Express™ or your bank name), and properly inscribed in the memo field with your account number. The cashier's check or money order can then be mailed to you or directly to the proper U.S. payment address. We also send you copies of the check and remittance slip.
From an accounting perspective, the results are equal to reversals, and refunds via account payments have some additional ancillary benefits to cardholders, while the mechanism of the special procedure is a manifestation of our privacy-protective transactions.Holding the Accrued Intest No Expiration • Transferable • May Be Used Locally
For the benefit of ethical matching of full amounts on cancellations of services with 100% refunds, clients may request that we hold any applicable deposit interest as account credits, or to provide the equivalent value in some form of a shipped or local benefit of legitimate business expense.
Please instruct us based on the above options.
PayPal is a registered trademark of PayPal, Inc.