How BSP remittance works: periods, dates and what you settle

An agency settles with the BSP by paying all amounts owing for a reporting period to IATA's Clearing Bank by the remittance date for that period 4. The reporting period, billing date and remittance date all come from the BSP calendar, and the frequency depends on your market 5. The sections below explain each part.

The three dates in the BSP calendar

Each BSP has a calendar published by IATA for the calendar year and made available through the IATA Customer Portal 5. It contains three timelines 5:

• Reporting period: the start and end date of each period for which a billing is produced.
• Billing date: when the billing reports for that period become available on BSPlink.
• Remittance date: when all amounts owing for the period must be remitted to the Clearing Bank. For agencies on direct debit, where available, this is the day IATA debits the account.

If the calendar is amended after publication, IATA communicates to the market and sends the revised calendar through BSPlink and the Customer Portal 5. The Manual describes checking the calendar regularly as essential to avoid late or short payments 5.

Frequency depends on the market

The Passenger Agency Conference sets billing and remittance frequency on the recommendation of the local APJC, and a more frequent remittance may be added to the standard one 5. The Travel Agent's Handbook lists the frequency by market, with the length of the sales period and the time from period end to remittance 611.

The differences are real. Germany, for example, is listed with twice-monthly and four-times-monthly options, plus a voluntary daily option 11. Korea is listed with six times a month 10. Malaysia is listed as weekly 6. Gaps between period end and remittance are shown in calendar days in some markets and working days in others 611. Check which entry applies to your BSP rather than assuming.

The United Kingdom shows how the mechanics work 3:

• Twice-monthly agencies remit on the last day of the month for sales from the first 15 days, and on the 15th of the following month for sales from the 16th to month end.
• Four-times-monthly agencies remit 7 calendar days after each sales period. The periods are 1st to 7th, 8th to 15th, 16th to 23rd, and 24th to month end.

The UK example is not a template for other markets.

What is settled and how

The obligation is to remit the amount specified on the billing for the remittance period under settlement 27. Your billing reports include a remittance notice that states the amount due and the remittance date 4. The settlement amount comes from that billing, not from your own estimate, except in the exceptional case described below.

The payment must reach the Clearing Bank account by the remittance date 7. The method of payment must also assure that the funds are in the Clearing Bank for good value on the day of remittance 8. If you are on direct debit, IATA debits on the remittance date and you must have enough funds in the designated account to cover the full amount 4.