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    Overview
    • 12 Jun 2020
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    Contents

    Overview

    • Updated on 12 Jun 2020
    • 1 Minute to read
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    Article Summary

    Clearance process for the Order based airline industry business model. Process supported by data communication standard that will facilitate the future clearing and accounting requirements. The Settlement with Orders process and messaging standards are defined within a legal framework that includes:

    • The agreed Order.
    • The resolutions that govern the settlement process and its participants.
    • Privately arranged bilateral agreement.

    The goal for the Settlement with Orders process and its supporting standard is to deliver benefits to Order based airline industry that will include:

    • Transparent and straightforward process.
    • Higher degree of automation using latest technology.
    • Process focused on settlement only.
    • Simplicity.
    • Scalability.

    In summary, the Settlement with Orders process and standard are compulsory capabilities to fulfil the settlement service in the future Order model for the airline industry.

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    DISCLAIMER: The information contained in this publication is subject to constant review in the light of changing government requirements and regulations. No reader should act on the basis of any such information without referring to applicable laws and regulations and/or without taking appropriate professional advice. Although every effort has been made to ensure accuracy, the International Air Transport Association shall not be held responsible for any loss or damage caused by errors, omissions, misprints or misinterpretation of the contents hereof. Furthermore, the International Air Transport Association expressly disclaims any liability to any person or entity in respect of anything done or omitted, by any such person or entity in reliance on the contents of this publication.