Billing and Settlement Plan
E54716
The Billing and Settlement Plan is a global financial system used in the airline industry to streamline and centralize the selling, reporting, and remittance of airline tickets between travel agents and airlines.
Statements (48)
| Predicate | Object |
|---|---|
| instanceOf |
airline financial system
→
industry clearing and settlement system → |
| abbreviation |
BSP
→
|
| benefit |
improves cash flow predictability for airlines
→
reduces administrative costs for airlines → reduces administrative costs for travel agents → simplifies reconciliation of ticket sales → |
| componentOf |
IATA financial settlement systems
→
|
| dataOutput |
billing reports for airlines
→
sales reports for agents → |
| function |
acts as an intermediary between travel agents and airlines
→
consolidates payments from travel agents → reduces the number of financial relationships between agents and airlines → remits funds to airlines → standardizes reporting formats for ticket sales → |
| governedBy |
IATA resolutions
→
local BSP manuals → |
| handles |
airline ticket sales data
→
commission calculations → refund transactions → tax and fee remittances → |
| industry |
airline industry
→
|
| objective |
enhance efficiency of airline distribution
→
reduce financial risk in agent-airline transactions → |
| operatedBy |
IATA
→
International Air Transport Association → |
| participantsInclude |
IATA-accredited travel agents
→
clearing banks → participating airlines → |
| purpose |
centralize remittance of airline ticket revenues
→
centralize reporting of airline ticket sales → streamline airline ticket selling → |
| relatedTo |
Global Distribution Systems
→
IATA Clearing House → New Distribution Capability → |
| riskManagementFeature |
financial security requirements for agents
→
remittance calendars → reporting deadlines → |
| scope |
global
→
multi-agent → multi-airline → |
| supports |
agency credit memos
→
agency debit memos → electronic tickets → miscellaneous charge orders → paper tickets → |
| usedBy |
airlines
→
travel agents → |
Referenced by (3)
| Subject (surface form when different) | Predicate |
|---|---|
|
BSP
→
|
abbreviationOf |
|
BSP
→
|
acronymFor |
|
International Air Transport Association
→
|
developsProgram |