Legal: When the money stops

What can TMCs and corporates do to ensure payments flow efficiently in hard times?

In an uncertain economy, travel bookings might fall, suppliers may become insolvent and clients fail to pay on time. Steps can be taken to protect cash flow to shield your business.

Clarity in contracts
Contracts between TMCs and corporates should be clear on what happens when payments run into default. Point-of-sale payment systems, such as a lodge card, should be considered, and a method for commissions to be paid regularly. This should ensure that the TMC can pay blakemorgan.org.uk). He welcomes your feedback at ian.skuse@blakemorgan.co.uk

Subscribe to the BBT Newsletter

Join the Buying Business Travelk newsletter for the latest business travel buying news.

Thank you for signing up!