Credit Facility Addendum

This Credit Facility Addendum applies only once Premium Choice Travel DMCC (Premium Choice, we) and your agency have both signed it, with the details in the schedule completed. It forms part of the Agency Trade Agreement and, on credit and payment, prevails over it.

1. The facility

1.1 We give your agency credit up to the limit in the schedule, in the currency of the wallet it is set on. Bookings on credit reduce the available amount. Payments restore it.

1.2 Credit is a facility we may grant, review, reduce or withdraw. We review it at least by the review date in the schedule. We will give 14 days' notice of a reduction unless clause 5 applies. A reduction does not affect Bookings already confirmed.

1.3 A credit decision is made and recorded by a person in our finance team. It is not effective until this Addendum is signed. Until then your agency books on prepaid terms, and applying for credit does not stop it doing so.

2. Payment

2.1 Each Booking on credit falls due 15 working days (Monday to Friday) after check-out or the end of the service, unless the schedule sets other terms.

2.2 We send statements. Payments are applied to the oldest open amounts first unless you tell us otherwise when paying.

2.3 Pay by bank transfer to the account on our invoice, quoting your agency reference. We will never tell you of a change to our bank details by email alone. Always confirm a change by telephone with a known contact before paying.

3. Security

Where the schedule requires it, your agency provides the deposit, bank guarantee or other security stated before the facility starts. [Personal guarantee: only if counsel advises and the owners agree.]

4. Information

Your agency will give us, on reasonable request, information we need to review the facility. That includes estimated volumes, trade references and, where the schedule says so, financial statements. We keep them confidential and use them only to assess credit.

5. Suspension

If an amount is overdue, a payment bounces, or we reasonably believe your agency may not be able to pay, we may suspend credit at once. New Bookings then need prepayment until the position is resolved.

Schedule — Facility details

Signed for Premium Choice Travel DMCC: [name, title, date]

Signed for the Agency: [name, title, date]