What does the term "Reservation Deposit" mean?
A Reservation Deposit is a new option for customers that allows them to pay for vouchers (currently only in the Travel category) in two payments instead of a single payment of the entire voucher.
Pilot project
The Reservation Deposit can be used to purchase stays in the Travel category. The minimum purchase value must be 8 000 CZK and the dates of stay must be at least 60 days from the date of purchase. The reservation deposit is non-refundable.
Reservation Deposits – payment calendar for customers
Customers pay in two payments: first, a Reservation Deposit of 30% of the total voucher price and then an additional payment of 70%, which must be paid no later than 30 days before arrival. If the additional payment is not paid, the reservation will be forfeited.
Filing on Forfeited Reservation Receipts – Unpaid Reservations
If the customer fails to pay the balance, the reservation deposit becomes forfeited and the reservation is cancelled. You will receive notification of this. The contract defines the share of forfeited reservation deposits for the provider, which determines the amount that you will be reimbursed.
What does this look like from your perspective?
Setting up the Reservation Deposits
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There are two options for setting up the Reservation Deposits:
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Cash flow – when will I receive the money?
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Option A – Both payments are paid on time Money will be sent to you (less commission) as soon as possible next after the voucher has been redeemed. Example The voucher was redeemed on 25 April 2024. You will receive the money at the next billing date, i.e. for the period 21 April – 1 May 2024
Option B – Only the Reservation Deposit is paid The balance has not been paid before the due date of 25 April 2024. The voucher becomes unused on 26 April 2024. You will receive a share of the forfeited reservation deposit in your next billing, i.e. billing for the period 21 April – 1 May 2024.
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Affiliate interfaces and booking systems
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Email notifications After paying the deposit, you will receive a standard email notification of the new booking, which includes information that only the reservation deposit has been paid and not the total price of the order.
You will receive another email notification after the additional payment has been paid.
Should the additional payment not be paid on time, the reservation will be cancelled and you will receive a notification regarding the cancellation of the reservation and a billing for the forfeited reservation deposit.
Will the reservation information be entered into the booking system? No. So how do I know if a voucher has been paid through the Reservation Deposit? In the Partner Interface in the Paid Orders export. Here we have added new columns and color differentiation of selected rows to make it clearer.
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Please find attached a document (only in Czech) that shows the procedure for making orders with a Reservation Deposit. The key principle is to account for each payment (reservation deposit, additional payment) separately at the moment of its payment by the customer. A guide for billing (only in Czech)
What if the balance is not paid but we have already paid VAT on the Reservation Deposit? |
If you have further questions, please do not hesitate to contact us.