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Business Travel and Expense Definitions

Whether you’re a seasoned professional or a newcomer to the corporate travel and expense landscape, this resource is your go-to guide for understanding key terms and concepts in the industry. 

Explore the definitions, gain insights, and elevate your expertise in the language of business travel and expense management.

A

Accounts payable refers to the short-term liabilities that a company owes to its creditors and suppliers for goods and services purchased on credit.
Accrual accounting is a method of recording financial transactions when they occur, regardless of when the cash transactions happen, ensuring that revenue and expenses are matched in the period they arise.
Actual expense refers to the actual amount of money spent on specific goods or services, documented with receipts or verifiable records.
The adoption rate is the percentage of travel bookings made through a designated, company-approved online booking platform.
An advance purchase excursion (APEX) fare is a type of airline fare discounted due to certain usage restrictions.
An agent-assisted booking (AAB) takes place when a travel agent helps book any travel needs.
Airline alliances are broad partnerships between or among airlines (e.g., oneworld, SkyTeam, or Star Alliance). Alliance members work together to share flight routes, airport lounges, ground crews, and even booking systems. Frequent flyer miles can often be used with airlines across the alliance.
An airline joint venture (JV) is a deep commercial partnership where two or more airlines on specific routes agree to share revenue, coordinate schedules, and align pricing. Because of this integration, they operate as a single commercial entity in that market.
Airline policy refers to a set of rules, guidelines, and procedures established by an airline to regulate various aspects of passenger and operational conduct, safety protocols, and customer service standards.
Airline regulations encompass a set of government-imposed rules and standards that govern various aspects of aviation, ensuring safety, security, and compliance within the aviation industry.
Airline reservation systems (ARS) are digital platforms owned by airlines used to manage flight inventory, real-time seat availability, ticket sales, and traveler data; it is the core technology that makes modern airline distribution possible.
An airport access fee is a charge that car rental companies pay to an airport for the use of airport roads or shuttles, which is typically passed on to renters.
Airports that are part of the International Air Transport Association (IATA) worldwide have a three-letter code to identify them (e.g., LHR for London Heathrow and SFO for San Francisco International Airport).
An airport lounge is a facility at an airport that offers travelers a comfortable place to relax, work, or eat before their flight. Typically accessible to first-class or business-class passengers, or those with certain membership statuses, lounges provide amenities like seating, food and beverages, Wi-Fi, and showers.
Airport lounge access refers to the ability to enter and use designated premium spaces within airports. These lounges offer travelers amenities such as comfortable seating, food and beverages, showers, and sometimes even sleeping areas, providing a more relaxed and enjoyable experience while waiting for flights. Access is typically granted to frequent flyers, premium credit card holders, or passengers traveling in business or first-class.
Airport transfer refers to the service of transporting passengers between an airport and their final destination, which could be a hotel, home, or other local point. This service can be pre-booked or arranged upon arrival and often includes options such as taxis, shuttle buses, or private car hires.
An aisle seat refers to a seating option located next to the aisle, providing easier access to the exit and other facilities without needing to cross over other seated individuals. This seat is often preferred by those who appreciate the convenience of not having to disturb others when moving in and out of their seat.
Allocation refers to the process of distributing resources or tasks among various areas or aspects within a project or organization to optimize efficiency and achieve specific objectives.
Alternate airports are airports designated for use if a flight cannot land at the intended primary airport due to weather conditions, congestion, or other operational disruptions. They serve as backup options to enhance safety and maintain flight schedules.
Amortization is the gradual reduction of a debt over a period of time through regular payments covering both principal and interest.
Ancillary services are extra, optional travel add-ons that travelers can buy on top of a ticket or room, such as bags, seat upgrades, and food.
Approval workflow is a structured sequence of steps designed to formally review and approve content or tasks to help ensure compliance and accuracy before finalization.
The Airlines Reporting Corporation (ARC) is responsible for supervising payments from travel agencies to airlines and issuing tickets to consumers.
An arrival gate is the section of an airport where passengers exit the airplane and enter the terminal after landing. This area, typically marked with a number or letter, guides travelers to baggage claims, exits, or connecting flights.
Artificial intelligence (AI) is a field of study focused on computer systems that can learn, reason, and make decisions in ways that mimic human intelligence, often improving over time.
An audit trail is a detailed, chronological record that provides documentary evidence of the sequence of activities that have affected any specific operation, procedure, or event.
Auditing is the systematic examination and verification of a company's financial and operational records by an independent entity to help ensure accuracy, compliance with regulatory standards, and truthful financial reporting.
Automated check-in is a technology-enabled process allowing guests or participants to register their arrival for a stay, event, or service without manual intervention, typically using devices like kiosks, smartphones, or computers. This method is often faster and can reduce wait times and staffing needs.
Automatic rebooking refers to the process where a flight, hotel, or event booking system automatically reschedules a reservation when the original booking cannot be honored due to unforeseen circumstances such as cancellations or overbookings. This feature aims to provide a seamless adjustment without requiring the customer to manually secure a new booking.
The average daily rate (ADR) is a hotel performance metric showing the average revenue earned per sold room in a given period.

B

Baggage allowance refers to the maximum weight, dimensions, and quantity of luggage and personal items permitted for a passenger to bring on a flight without incurring additional charges.
Baggage claim is an area in an airport where passengers collect their luggage after a flight. This area typically features conveyer belts that deliver checked baggage to passengers upon arrival.
A balance sheet is a financial statement that summarizes a company's assets, liabilities, and shareholders' equity at a specific point in time, providing a snapshot of its financial health and liquidity.
Base fare is the starting price for a ticket or ride before adding taxes, fees, surcharges, extras, or tips.
Basic economy is the lowest-priced airline fare class, which has heavy restrictions on changes, refunds, baggage, and seat selection compared to standard economy.
Benchmarking is the process of measuring your business’s performance against industry standards, in order to identify areas for improvement and gain a competitive advantage.
Best available rate (BAR) is the lowest publicly available rate a hotel or car rental provider offers for a specific room or vehicle at a given time.
A bill of expenses is a detailed statement itemizing all costs incurred during a specific activity or period, providing a transparent account of expenditures.
A billable expense is a cost incurred by a business that is directly charged to a client as it pertains specifically to their project or service provided.
Billback is a hotel billing method where the hotel charges a company or its travel management company directly instead of the traveler paying at checkout.
Blackout dates are specific dates when airlines, hotels, or car rental agencies block special discounts, promotions, or the use of miles and points.
A blanket purchase order is a long-term agreement between an organization and a supplier to deliver goods or services on a recurring basis over a specified period, optimizing ordering efficiency and reducing costs.
Bleisure travel is a portmanteau of business travel and leisure travel that describes the process of adding leisure or personal time to a scheduled business trip.
Blended travel is any trip that mixes business and leisure, from adding vacation days to a work trip to working remotely from another location.
A boarding pass is a document issued by an airline during check-in, granting a passenger permission to enter the secure area of an airport and to board a specific flight.
Boarding priority refers to the order in which passengers are allowed to board a plane, train, or other forms of transportation. It often depends on factors such as ticket class, membership status in frequent traveler programs, or special needs.
A booking engine is a web-based tool that lets users search, compare, and reserve flights, hotels, trains, and cars online in real time.
Boutique hotels are small, independent hotels, usually with under 100 rooms, known for their unique design, personalized service, and strong local character.
Budgeting is the strategic process of planning and allocating a company's financial resources to prioritize expenditures and achieve organizational goals. Master the essentials of budgeting to effectively manage income, control costs, and ensure financial stability for your business.
Business continuity is the process of planning and preparing so a company can keep operating during and after disruptive events.
Business expenses are the costs a company pays to run its operations, such as payroll, rent, software, travel, and other work-related purchases.
Business travel is any travel conducted by employees for business purposes, including but not limited to travel for events and conferences, company offsites, client meetings, trade fairs, and office visits.
A business trip is a journey an employee takes for work purposes on behalf of their employer, such as for meetings, conferences, or site visits.

C

Cabin crew are airline personnel responsible for passenger safety and comfort aboard flights. Their duties include demonstrating safety procedures, serving food and drinks, and assisting passengers as needed during a flight.
Cabin pressure refers to the artificial maintenance of air pressure in an aircraft's cabin, which is necessary for passenger and crew comfort and safety during flight, especially at high altitudes where external air pressure is low.
A capital expense (CapEx) is a business expenditure made to acquire, upgrade, or maintain long-term assets to improve efficiency or capacity.
Capitalization refers to the total market value of a company's outstanding shares of stock, representing the company's overall worth according to investors.
Car allowance is a fixed sum of money an employer provides to an employee for using their personal vehicle for business purposes.

A car rental agreement outlines the terms and conditions under which a rental car is provided to a customer, including duration, fees, and responsibilities.

Carbon emissions are greenhouse gases, mainly carbon dioxide, released into the atmosphere from activities like flying, driving, and using energy.

Carbon Footprint

A carbon footprint is the total amount of greenhouse gases, particularly carbon dioxide, that are emitted directly or indirectly by an individual, organization, event, or product throughout its lifecycle, indicating its impact on the environment and climate change.

Card Security Code (CSC), Card Verification Code (CVC), Card Verification Value (CVV)

A Card Security Code (CSC), Card Verification Code (CVC), or Card Verification Value (CVV) is a security feature on credit and debit cards. The three- or four-digit code is used to enhance the security of online and over-the-phone transactions by verifying that the person making the purchase has physical possession of the card.
Carry-on luggage refers to small bags or suitcases that passengers are allowed to bring into the airplane cabin. These items must fit within the airline's size restrictions and are stored in overhead bins or under the seat in front of the passenger.
Carry-on policy refers to the rules established by an airline regarding the size, weight, and number of bags a passenger may carry onto the airplane without checking them into the baggage compartment. These regulations are designed to maximize onboard storage efficiency and to ensure passenger safety and comfort during the flight.x
A cash advance is a short-term loan from a bank or alternative lender that provides immediate funds accessible through a credit card or other line of credit.
Cash basis accounting is a straightforward accounting method where revenues and expenses are recorded only when cash is received or paid out.
Categorization is the process of sorting and organizing items or information into predefined groups based on shared characteristics or criteria.

Centralized Billing

Centralized billing is a form of billing in which the customer receives a consolidated invoice of all travel charges.

Chain Discounts

A chain discount is negotiated between businesses and entire hotel chains. If the company is large enough, it may be able to receive a blanket discount at all chain properties.
A change fee is a charge imposed by a company, typically in the airline or hospitality industry, when a customer makes modifications to a booked service or reservation date.
A chart of accounts is a structured listing of all the general ledger accounts used by an organization to categorize and record financial transactions systematically.

Charting in rail travel is the official finalization of the passenger list, seat allocations, and preparation of the train's final ticket chart before departure.

Checked baggage is luggage that passengers check in at an airline’s counter, which the airline then handles and transports in the cargo hold of the plane. This baggage is subject to the airline’s size and weight restrictions and is typically reclaimed by passengers at their destination.

City Pairs

City pairs are the two codes on a flight itinerary that stand for the departure (origin) and arrival (destination) airports.

Class of Service (COS)

Class of service (COS) refers to different categories or levels of accommodation, seating, or service provided by airlines or hotels. COS often includes distinctions like basic economy class, business class, and first class in air travel, or standard rooms versus suites in hotels.

CLEAR

CLEAR is a biometric identity verification system used at airports and other venues in the United States, allowing pre-registered individuals to bypass traditional security lines by verifying their identity through fingerprint or eye scans.
A Code Red Flight is an urgent and high-priority flight operation typically activated during severe emergencies or situations that demand an immediate response, such as natural disasters, evacuations, or critical medical transports.
A codeshare flight is a commercial flight operated by one airline but also marketed by one or more other airlines. This arrangement allows airlines to expand their network and offer passengers more destinations using a single booking.
Compliance refers to the act of adhering to laws, regulations, standards, and ethical practices set by recognized authorities or organizations.

Computer Reservation System (CRS)

A computer reservation system (CRS) is a central platform used by travel agents, airlines, hotels, and other travel service providers to manage and facilitate reservations and bookings.

A connection flight refers to a journey where passengers switch from one aircraft to another at an intermediate airport before reaching their final destination. These flights are usually part of a single itinerary but require a change of planes.

Consortia Rate

A consortia rate is a discounted rate agreement between an agency and a hotel. Consortia rates are negotiated by travel management companies, making them available to all the agency’s travelers and can include various value-adds.

Content

In the travel industry, content refers to the comprehensive information on flights, accommodations, and other travel services provided by airlines and suppliers, accessible through distribution platforms for travel agencies and other stakeholders.

Corporate Negotiated Rate (CNR)

Corporate negotiated rates are special discounts that companies negotiate with certain hotels, usually with the help of a travel management company.
A corporate travel policy is a set of company guidelines and protocols for business travel that is created by travel managers and used by employees as they plan trips on behalf of the company.

Corporate Travel Program

A corporate travel program is a company’s formal structure to facilitate business travel, typically done in partnership with a travel management company.
Cost allocation is the process of identifying, aggregating, and assigning costs to various departments, projects, or activities within a company to accurately reflect resource usage and facilitate financial management.
A cost center is a department within a company that does not directly add to profit but still incurs costs, essential for internal efficiency and functioning.
Cost control is the practice of identifying and reducing business expenses to increase profits and manage resources efficiently and economically.

Credit Card Authorization (CCA)

A credit card authorization (CCA) is a review, usually through a credit card processor, that checks if the customer has sufficient funds on their card to pay for the transaction.

Customer Channels

Customer channels are inventory sources such as the Expedia Affiliate Network and Priceline Partner Network.

Customer Data Fields (CDF)

Customer data fields (CDFs) are used to collect specific company information such as an employee’s role and department.

D

Data integration is the process of combining data from different sources into a single, cohesive view to enhance accessibility and reliability of business insights.
A deadhead is an off-duty airline or rail crew member who is traveling in a passenger seat, usually to reposition for their next working assignment.
A departure gate is the designated area in an airport where passengers board their flights. It is usually marked with a number and the flight's destination, and serves as the last stop in the airport terminal before passengers enter the aircraft.
Departure time refers to the scheduled time at which a vehicle (such as a plane, train, or bus) is planned to leave a specific location.
Depreciation is the accounting method used to allocate the cost of a tangible asset over its useful life.
A designated booker is someone who is authorized to book travel on behalf of other employees, such as an assistant who books trips for executives or a team coordinator.
A destination airport is the airport where a flight is scheduled to arrive.
Direct cost refers to any expense that is specifically and solely associated with the production or sale of a specific product or service.
A passenger flying on a direct flight will not have connections or a change in flight number — but they may stop for refueling, to add/disembark passengers, or to change aircraft.
Discretionary expense refers to non-essential spending on goods and services that are subject to voluntary decision-making by an individual or organization.
Distribution platforms are technology systems and standards, like global distribution systems (GDS) and New Distribution Capability (NDC), that connect travel suppliers with agencies and booking tools to sell and manage travel services.
Dunning refers to the process of systematically communicating with customers to help ensure the collection of accounts receivable owed to a company.
Duplicate expense detection is an automated process used to identify and flag repeated expense claims within financial systems to prevent fraud and enable accounting accuracy.
Duty of care is a company’s legal and moral responsibility to protect its employees’ health, safety, and well-being, including when they travel for work.
Dynamic pricing is when airlines, hotels, and other travel suppliers constantly adjust prices using algorithms that react to demand, competition, and inventory.

E

Economy class is the most basic seating category offered by airlines, typically characterized by more compact seating arrangements and fewer amenities compared to higher-tier classes. It is designed to be cost-effective for budget-conscious travelers.
Electronic Funds Transfer (EFT) is a digital system for transferring money from one bank account to another without any paper money changing hands.

Electronic Data Interchange for Administration, Commerce and Transport (EDIFACT)

Electronic Data Interchange for Administration, Commerce and Transport (EDIFACT) is a standardized communication protocol created in the 1980s to exchange data between systems. Travel management companies rely on this standard to communicate with travel providers via the global distribution system (GDS) and source travel options for their customers.
Electronic receipts are digital versions of paper receipts, issued electronically via email, text, or within an app, providing a convenient and eco-friendly way to track purchases and returns.

Electronic System for Travel Authorization (ESTA)

Electronic System for Travel Authorization (ESTA) is an automated system that determines the eligibility of visitors to travel to the United States under the Visa Waiver Program.
An electronic ticket, or e-ticket, is a digital version of a traditional paper ticket, used for purchasing and accessing services such as flights, events, or public transportation. It provides a convenient and secure way of ticketing that can be easily accessed via email or through a mobile application.
The emergency exit row refers to the rows in an airplane or auditorium located closest to the emergency exits. These seats are designated to facilitate quick and easy evacuation in the event of an emergency.
Expense accrual refers to the accounting practice of recording expenses in the period they are incurred, regardless of when they are actually paid.
Expense allocation is the process of assigning and distributing incurred costs to specific departments, projects, or cost centers within a company, ensuring accurate financial reporting and budget management.
Expense analytics is the process of systematically analyzing spending data to optimize cost management and enhance financial decision-making.
Expense approval is the process by which a company reviews and authorizes proposed expenditures to ensure they align with budgetary guidelines and business objectives.
Automated expense reporting streamlines and simplifies expense management by replacing manual processes with intelligent, software-driven solutions for real-time accuracy and compliance.
Expense categories are specific classifications used to organize and track different types of business expenditures for financial management and reporting.
An expense claim is a report submitted by employees to seek reimbursement for costs they incurred while performing duties on behalf of their company.
Expense forecasting is the practice of predicting future costs to aid budget management and strategic financial planning in organizations.
Expense fraud is the deliberate misrepresentation or falsification of business expenses for personal gain.

Expense Management

Expense management refers to the systems companies deploy to process, pay, audit, and reimburse employee-initiated expenses.

Expense Management Software, Expense Management System, Expense Management Solution

Expense management software is technology utilized by companies to authorize, manage, and process employee expense claims. This software is also useful for implementing practices for employee expense reimbursement.
Expense policies are guidelines created and enforced by companies that employees can turn to for understanding business-related expenses and travel costs.
Expense reconciliation is the process of verifying and matching business expenses with records for accuracy and compliance in financial reporting.

Expense Reimbursement

Expense reimbursement is compensation paid by a business to employees, customers, or third parties that incur out-of-pocket expenses or overpayments on transactions made on behalf of that company.
An expense report is a detailed document compiled by employees to itemize expenditures for which they seek reimbursement, typically used for business-related travel and operational costs.

Expense Report Software

Expense report software is the technology used to automate and streamline the process of filing an expense report. When an expense is obtained by an employee, that software can automatically recognize, reconcile, and potentially reimburse as a function of the policy constraints within the software.
Expense tracking is the process of monitoring and recording all financial expenditures to optimize budget management and ensure fiscal accountability.

F

Fair Market Price

The fair market price is the optimal fare for hotel rooms or airfares based on current prices. It is determined by the specific location, date, and demand at the time of the search.

Fare Basis Code

A fair basis code is an alphabetic or alpha-numeric code used by airlines to identify a fare type and allow airline staff and travel agents to find the rules applicable to that fare.
A fare class categorizes the different types of tickets available on commercial airlines, each defined by varying rules, restrictions, and prices. These classes differentiate the level of service, flexibility in changing the ticket, and accumulation of frequent flyer miles.
Fast track security refers to expedited security screening processes at airports that allow pre-approved, low-risk passengers to pass through security checks more quickly, reducing wait times and streamlining their travel experience.
Financial close is the process by which a company finalizes its financial transactions and balances at the end of an accounting period for accuracy and compliance in its financial reporting.

Fintech

Fintech, or financial technology, is an industry that leverages innovative technology and software to enhance and streamline financial services. It encompasses areas such as digital payments, online banking, and automated investment platforms.

First Class

First class refers to the premium, most luxurious cabin class on an airline. It’s characterized by superior amenities, more spacious seating, enhanced services, and priority treatment for passengers.
A fiscal year is a 12-month period used for accounting purposes by organizations to report and calculate finances, differing from the calendar year.
Fixed expense: A recurring, predictable cost that remains constant in amount, such as rent or insurance premiums.

Fixed-Rate Negotiations

Fixed-rate negotiation is a hotel rate that a company has negotiated with a fixed price and set of amenities that remain in place throughout the year, such as last room availability, cancellation, or check-in flexibility.

Flag Carrier

A flag carrier is an airline registered within a specific country or sovereign state, which may allow it certain preferential rights or privileges.
Flight disruption compensation refers to the financial recompense that airlines provide to passengers when their flights are significantly delayed, canceled, or overbooked, based on specific regulatory requirements such as EU Regulation 261/200. The compensation aims to cover the inconvenience caused to travelers due to disruptions that are within the control of the airline.
Foreign currency exchange is the process of converting one country's currency into another's, to facilitate international trade and investment.
Frequent flyer miles, also known as air miles, are loyalty program points awarded by airlines to passengers based on the distance they travel or money spent on flights, which can be redeemed for free or discounted air travel and other travel-related benefits.
A frequent flyer number is a unique identifier assigned to an individual by an airline’s loyalty or rewards program. It allows the airline to track and credit a passenger with frequent flyer miles and other qualifying activities that earn benefits or privileges.
A frequent flyer program is a type of loyalty program that rewards customers for their repeat business and brand loyalty by offering incentives, such as discounts, points, air miles, or exclusive perks.
Fringe benefits are additional perks provided by employers, such as health insurance, retirement plans, and paid vacations, that supplement an employee's regular salary.
A fuel surcharge is an additional fee that companies add to the cost of transporting goods. This charge helps cover the fluctuating costs of fuel, ensuring that the service provider can maintain operations despite varying fuel prices. It is commonly applied in industries such as shipping and aviation where fuel is a significant operational expense.

Full-Service Hotel

A full-service hotel is an accommodation facility that provides a comprehensive range of amenities and services beyond the basic lodging found at a limited-service hotel. These may include on-site restaurants, room service, concierge assistance, meeting and event spaces, fitness centers, and other additional features to cater to the various needs and preferences of guests.

G

A gate agent is an airline employee who manages the boarding process at airport gates. They check boarding passes, assist passengers with seating issues, provide flight updates, and help with any immediate travel concerns before takeoff.
A global distribution system (GDS) is a computerized system for reserving airline seats, hotel rooms, rental cars, and other travel-related items (e.g., Amadeus, Apollo, Galileo, Sabre, and Travelport).
A general ledger is a comprehensive record of a company's financial transactions, organized by account, used to prepare key financial statements.
Global Entry is a U.S. Customs and Border Protection service that allows pre-approved, low-risk travelers to receive expedited clearance through automatic kiosks at select airports upon arrival into the United States.
Guest travel is the act of booking travel for guests, including friends and family or company guests, such as interview candidates or clients.

H

Hand luggage refers to the smaller bags or suitcases passengers are allowed to carry into the cabin of an airplane or other forms of transportation. These items must fit into overhead bins or under seating areas and adhere to size and weight restrictions set by the transportation provider.
Hotel brands are collections of hotel chain properties with similar levels of service and offerings that are grouped together under one name (e.g., Hilton’s Waldorf, Curio, and DoubleTree). Chains may develop their own brands or acquire smaller chains.
Hotel chains are the largest organizing structure of a hotel group (e.g., Accor, Best Western, Choice, Hilton, IHG, and Marriott). Each chain contains multiple hotel brands and may operate hundreds or thousands of properties across many markets.
A hotel program is a catch-all term a company’s travel manager uses to describe all the rooms and rates available to their travelers.
A hub airport is a central airport used by an airline to connect flights and transfer passengers between different destinations.
A hush trip happens when an employee conducts business from somewhere other than their normal location and does not tell their employer.

I

In-flight entertainment is the array of audio and visual content (e.g., movies, music, and games) provided to passengers during a flight to enhance their onboard experience.
An in-flight meal is food served to passengers on board a commercial airliner. These meals vary depending on the airline company, flight duration, and class of service. Options typically range from snacks and beverages to full-course meals.
In-flight Wi-Fi refers to internet service provided on board airplanes, allowing passengers to connect to the internet via their personal devices during a flight. This service enables travelers to access email, browse the web, and stream media above a certain altitude after takeoff.

Incidental Expenses

Incidental expenses refer to miscellaneous costs or small, unforeseen expenditures that arise in the course of travel (e.g., tips for service, ground transportation costs, or fees for minor services).

Independent Hotels

Independent hotels are properties that are not affiliated with a chain or brand. Although these hotels may have certain agreements with chains, they retain their name and complete autonomy over property management.
Indirect costs are expenses not directly tied to a specific product or service but are necessary for overall business operations, such as rent, utilities, and administrative salaries.

Intercontinental Travel

Intercontinental travel is travel between two continents, such as travel from the U.S. to Europe.

Interline

Interline is a very basic form of agreement between airlines where check-ins and baggage handling can be done together, so a traveler only needs to check in once and does not have to worry about moving checked bags despite changing carriers during a trip.

International Air Transport Association (IATA)

The International Air Transport Association (IATA) is a trade association for many of the world’s airlines.

International Airline Travel Agent Network (IATAN)

The International Airline Travel Agent Network (IATAN) is the only widely accepted form of legitimate travel agent identification.
An International Driver’s License is a permit that allows individuals to drive legally in foreign countries.

Intracontinental Travel

Intracontinental travel is travel within a continent, such as travel between the U.S. and Canada.
Invoice matching is the process of comparing and verifying the details of a vendor's invoice with corresponding purchase orders and received goods/services documents to ensure accuracy and compliance before processing payment.

Irregular Operations (IROP)

Irregular operations are disruptions or deviations from normal flight schedules and operations, often caused by factors such as weather events, technical issues, or other unexpected events.
An itemized receipt is a copy of a proof of purchase that contains detailed and line-item information about that transaction. Itemized receipts mirror typical receipts but will also have each individual service or good listed out and may include various sales taxes attached to some items or the total amount.
A travel itinerary acts as your personal guide for a trip, outlining your destinations, activities, transport, and accommodation. Creating a well-planned itinerary can significantly improve your travel experience, helping you manage your time effectively and ensuring you don’t miss any important meetings or sights.

J

Jet lag is a temporary sleep disorder that occurs when an individual's internal body clock is disrupted due to crossing multiple time zones, often experienced after long flights. Symptoms typically include fatigue, insomnia, and sometimes digestive issues, which generally resolve as the body adjusts to the new time zone.
A journal entry is a record of financial transactions that documents the debit and credit balances for each account involved, and is used to maintain accurate financial records in accounting.

K

Known Traveler Number (KTN)

A Known Traveler Number (KTN) is a unique identification code issued by trusted traveler programs, such as TSA PreCheck, which enables individuals to undergo expedited airport security screening processes.

L

Land Arrangements

Land arrangements are all non-flight reservations in a travel itinerary, (e.g., car rental, hotel, and excursions).

Last Room Availability (LRA)

Last room availability (LRA) is a hotel industry practice that ensures a hotel will provide a travel agency or booking platform with the last available room in its inventory, even during peak periods or high demand, allowing for maximum booking flexibility.
A layover is a temporary stop in a journey, typically during air travel, where a passenger switches from one flight to another at an intermediate point before reaching the final destination. During a layover, passengers often remain in the airport for a specified period before boarding their connecting flight.

Leakage

Leakage occurs when employees book business travel outside the preferred channels; a lot of leakage in a managed travel program can lead to missed cost-savings opportunities and weaken duty of care capabilities.
Lease accounting is the management and reporting of financial information related to leased assets, to ensure compliance with accounting standards.

Leisure Travel

Leisure travel refers to the activity of individuals or groups taking trips for relaxation, enjoyment, and recreation, typically for non-business purposes.
Liability refers to the legal responsibility or debt that an entity or individual owes, which must be settled or fulfilled.

Limited-Service Hotel

A limited-service hotel offers a more streamlined range of amenities and services compared to full-service hotels. These hotels typically provide essential facilities (e.g., rooms, basic housekeeping, and possibly continental breakfast), but may lack features like on-site restaurants, extensive meeting spaces, or other additional services commonly found in full-service hotels.

Liquidation is the process of closing a business, selling its assets, and using the proceeds to pay off debts before distributing any remaining funds to shareholders.

Lodge Card

A lodge card is a virtual or physical payment card lodged with a travel management provider. Typically it is issued for an entire company or entire cost center to ensure all pre-trip expenses are charged to one card number.
Long-term car rental, also known as monthly car rental, is a rental period typically lasting more than a month.

Loss Damage Waiver (LDW)

Loss damage waiver is supplemental car rental insurance that covers theft, vandalism, and accident damage.
A low-cost carrier is an passenger carrier that offers low-fare flights with reduced services.

Lowest Logical Fare (LLF)

The lowest logical fare (LLF) is the least expensive, nonrefundable fare with the minimum number of stops at the time of booking.

Loyalty Program

A loyalty program is a marketing strategy that rewards customers for their repeat business and brand loyalty by offering incentives, such as discounts, points, air miles, or exclusive perks, encouraging ongoing engagement and repeat purchases.

M

Machine Learning

Machine learning refers to the application of artificial intelligence techniques that enable systems to automatically analyze and derive insights from large datasets.

Managed Travel

Managed travel refers to an organization’s strategic and coordinated approach to overseeing and controlling their employees’ business-related travel activities. It encompasses aspects such as travel policies, expense management, supplier negotiations, and the use of travel management companies or tools to optimize travel-related processes and costs.
Materiality refers to the importance and relevance of information which influences the decision-making of users within the context of financial reporting and business transactions.

Metal

In aviation slang, the term “metal” refers to the airplane of the operating carrier of a flight. For example, if you book a flight with one airline, but the flight is operated by a different airline, the operating carrier’s aircraft is often colloquially referred to as “metal.” This distinction is particularly relevant in codeshare agreements or when airlines collaborate, allowing one airline to operate flights on behalf of another.
Mileage reimbursement is a compensation paid to employees for the expenses incurred in using their personal vehicles for business-related travel.
A mileage run refers to a trip taken solely for the purpose of accumulating frequent flyer miles or points, usually to maintain or achieve elite airline status. This involves booking flights primarily for the rewards rather than the destination.

Minimum Connect Time

The minimum connect time is the shortest time required to successfully transfer to a connecting flight at an airport.
Minimum connection time (MCT) refers to the shortest allowable interval between the arrival of one flight and the departure of a connecting flight at an airport, ensuring passengers and their luggage can transfer from one flight to another without missing the connection.
A mobile boarding pass is a digital version of a traditional paper boarding pass, accessible through a smartphone app or email. It allows passengers to check in for flights and proceed through security checkpoints and boarding gates using their mobile device.
Mobile expense reporting is the process of documenting and submitting business expenses through a mobile app, allowing for real-time tracking and management on-the-go.

Multi-Carrier Support

Multi-carrier support refers to a system or service’s capability to accommodate and interact with multiple carriers or transportation providers. In the context of travel management, it refers to the ability to book your departure and return flights with any airline combination.

Multi-City Flight

A multi-city flight is a single travel booking that combines flights between several cities into one itinerary.

Multi-Fare Class Support

Multi-fare class support is the ability to mix and match cabin fares on a single ticket (e.g., book basic economy class on the flight out and business class on the way home).

N

New Distribution Capability (NDC) is a data transmission standard that helps airlines communicate more directly with travel agencies and other distribution channels, enabling more personalized and dynamic travel offers.
Negative expense refers to a reversal or reduction in expenses, often resulting in a credit or income rather than a cost.

Net Fare, Net Rate

A net fare or net rate refers to the base price or cost of a travel service, such as a flight, hotel room, or tour, excluding additional fees, commissions, or markups.

Net Promoter Score (NPS)

Net promoter score (NPS) is a metric used to measure customer loyalty and satisfaction based on the likelihood of customers recommending a company’s products or services to others. NPS is a strong indicator of the health of a corporate travel program, along with adoption and traveler satisfaction.

Next Generation Storefront (NGS)

The Next Generation Storefront (NGS) is a set of data standards that enable distribution channels to better present, sort, and find the airline products and services travelers are looking for.
A no-show fee is a charge applied when someone fails to attend or cancel a scheduled appointment or reservation without proper notice.

Non-Last Room Availability

As opposed to last room availability, non-last room availability means hotels do not need to guarantee a company’s negotiated rate can be used for their last available room. That means a traveler may see that a room is available at a hotel but may not find an associated corporate negotiated rate at that hotel.
A non-refundable ticket is a type of purchase for services such as airline travel where the buyer cannot receive a refund if they decide to cancel their booking. This kind of ticket is usually less expensive compared to refundable options.
A non-reimbursable expense is a cost incurred that cannot be claimed back for compensation through an individual's company or organization.

Non-Rev

A non-rev (revenue) passenger is an airline employee (i.e., deadhead), or their friends or family, traveling on a deeply discounted airline ticket. These flights are generally on a standby basis only and for personal needs.
A non-stop flight is a flight with no stops en route to a passenger’s final destination.

Non-Transferable

A non-transferable ticket can only be used by the person who was originally scheduled to fly.

O

O&D

In the travel and aviation industry, O&D typically refers to the specific origin and destination points of a journey, representing the cities or locations where a traveler begins their trip and where they ultimately intend to go.

Occupancy Rate

The occupancy rate is a metric that indicates the percentage of available rooms or units that are currently being used or rented out.
Off-peak travel refers to the times when travel demand is lower, typically outside of rush hours, holidays, and weekends. Traveling during these periods often results in cheaper fares and less crowded conditions.

Offline Connection

An offline connection refers to a travel itinerary where passengers have to change planes at an intermediary airport, requiring a separate ticket for each leg of the journey and often necessitating self-transfer and recheck of luggage.

Offsite

An offsite is an occasion when a group of employees gather together away from their office, especially for team-building or business purposes.
A one-way car rental happens when a car is rented for a single journey, typically without returning it to the pickup location.

Online Booking Tool (OBT)

An online booking tool (OBT) is a corporate-approved software tool that lets organizations book, manage, and monitor their business trip itineraries.
This is a digital process that allows individuals to confirm their attendance and possibly select seating or other preferences before the actual time of an event, activity, or travel, such as a flight. This service is accessible via a website or mobile app, streamlining procedures upon arrival by reducing waiting times and paperwork.

Online Travel Agency (OTA)

An online travel agency (OTA) is a travel website that helps travelers book flights, hotel rooms, ground transportation, or other travel-related products and services.
An open jaw itinerary happens when the passenger flies into one city and out of another (e.g., a ticket originating at JFK and flying to LHR and then returning from MAN to JFK).
Operating expense refers to the day-to-day costs incurred by a business to support its operational activities, excluding costs associated with direct production or manufacturing.

Optical Character Recognition (OCR)

Optical character recognition (OCR) technology extracts and repurposes data from camera images, scanned documents, or image-only files such as PDFs. The software is capable of singling out letters and numbers on images, such as a photo of a receipt, and then extracting this data for processes like reconciliation.
Out-of-pocket expense refers to the direct payments made by individuals for goods or services, which are not reimbursable or covered by insurance.
An overhead bin is a storage compartment located above the passenger seats in an airplane, designed to hold carry-on luggage and other personal items during a flight.
Overweight baggage refers to luggage that exceeds an airline’s allowable weight limit for a passenger’s checked items. This typically incurs additional fees, as the weight restrictions are set to maximize safety and efficiency in handling and storing during flight.

P

A P-card, or a procurement card or purchase card, is a corporate card companies issue employees for business expenses.

Passenger Facility Charge (PFC)

A passenger facility charge (PFC) is a fee imposed by airports to help fund infrastructure projects and improvements. Airlines collect this fee from passengers and then remit it to the airport.
Passport Control is a security process at airports and national borders where officials verify the identity and travel documents of individuals entering or leaving a country. This procedure helps regulate who is allowed to enter or exit by checking passports, visas, and sometimes conducting brief interviews.
Peak travel times refer to the periods during the day when traffic congestion is at its highest. This usually occurs during morning and evening hours when people are commuting to and from work. Additionally, peak travel times can also occur during holidays and special events, leading to increased usage of public transportation and road networks.
What is per diem and how do GSA rates actually work? The gap between official allowances and what business travel really costs.

Personal Effects Coverage

Personal effects coverage is additional car rental insurance covering the loss of personal property from the rented vehicle.

Personal Expense

In the context of business expenses, a personal expense refers to a cost incurred by an individual for non-business purposes, which is typically not eligible for reimbursement.

Personal Travel

Personal travel refers to journeys undertaken by individuals for non-business or non-professional reasons, typically for leisure, vacation, or personal obligations.
Petty cash is a small fund kept on hand for minor or incidental expenses in a business.

Phonetic Alphabet

The phonetic alphabet, also known as a spelling alphabet or radio alphabet, is a set of standardized code words used to represent letters of the alphabet in oral communication (e.g., Alpha, Bravo, and Charlie). It is designed to minimize confusion and errors when spelling out words, names, or codes, especially in situations where the clarity of verbal communication is crucial, such as over the phone or in radio communication.

Physical Corporate Card

A physical corporate card is a plastic card issued to employees to spend on work-related purchases. The card is tangible and has a unique 16-digit number, expiration date, and Card Verification Code (CVC).

Pitch

Pitch is the legroom between airline seats as measured from the back of one airplane seat to the seat in front of it.
A Passenger Name Record (PNR) is a digital file stored by airlines with a passenger's travel booking details, including itinerary, personal info, and flight history.

Point-to-Point

Point-to-point in air travel refers to a flight system where an airline operates direct routes between specific city pairs without requiring passengers to connect through a hub. It provides more direct and nonstop options for travelers.

Points

Points in the context of the travel industry refer to a type of loyalty or rewards program currency. These points are accumulated by customers through various activities, primarily through purchasing flights, hotel stays, and car rentals. Points can typically be redeemed for benefits such as free or discounted travel, upgrades, and other travel-related perks.

Policy Compliance

Policy compliance refers to the adherence of individuals or entities to established rules, regulations, and guidelines, ensuring that they follow prescribed standards and procedures.

Preferred Supplier

A preferred supplier is a specific supplier or service provider with whom a travel agency or travel management company has established a preferred relationship, often based on negotiated terms, pricing, and other mutually beneficial arrangements.
A premium location charge (PLC) is an extra fee for car rentals at convenient locations.
Prepaid expenses are future expenses that are paid in advance and recorded as assets before they are used or consumed.
Priority Boarding is a service offered by airlines that allows passengers to board their flight before other travelers. This option often provides convenience, such as early access to overhead bin space and extra time to settle in before takeoff.
Priority Pass is a membership program that grants access to a global network of airport lounges, offering travelers a comfortable space to relax before their flights, regardless of their airline or travel class.
A pro forma invoice is a preliminary bill of sale sent to buyers in advance of a shipment or delivery of goods.

Procurement

Procurement is a broad term to describe a range of activities involved in sourcing, obtaining, and purchasing goods, in most cases for business-related purposes.

Pseudo City Code (PCC)

Pseudo city code (PCC) is a unique identifier assigned by a global distribution system (GDS) to travel agencies or other entities that use the GDS to make reservations and bookings for travel services such as flights, hotels, and car rentals. The PCC allows the GDS to track and manage transactions associated with a specific agency or user.

Published Fare

A published fare refers to the standard, publicly available price for a flight ticket set by an airline and typically listed in their official fare tariff. This is the base price before any discounts, promotions, or additional fees are applied.
A purchase order is an official document issued by a buyer committing to pay the seller for specified products or services at agreed prices and terms.

R

A rack rate is a standard or published retail price that a hotel charges for its rooms or accommodations before any discounts, promotions, or special offers are applied. It serves as the baseline price that guests would pay for a room without any corporate negotiated rates or reductions.
Real-time reporting is the process of monitoring and delivering data analysis instantly as events occur, enabling immediate insights and decision-making.
A charge imposed by service providers, like airlines or hotels, when a customer changes their booking to a different time or date after the initial reservation was made. This fee compensates for the administrative costs associated with altering the original booking.
Receipt management is the process of organizing, storing, and tracking payment documents for accurate financial record-keeping and compliance.
What is expense reconciliation and why does it consume 80% of finance team time? The manual matching problem, and how to fix it.

Record Locator

In airline reservation systems, a record locator is an alphanumeric code or reference number used to access a specific passenger’s booking or reservation.
A recurring expense is a predictable and consistent cost that occurs at regular intervals, such as a monthly subscription or annual insurance premium.
A red-eye flight is a flight that takes place between the hours of 9 p.m. and 7 a.m.
A refundable ticket is a type of ticket that can be returned for a full or partial refund if the buyer decides not to use it or needs to cancel their plans. This option often carries a higher initial cost compared to non-refundable tickets.

Regional Hotel Chain

This is a smaller form of hotel chain with multiple properties, and potentially multiple hotel brands, within its holding. In addition to operating on a much smaller scale, these hotels also operate in a specific region.
A reimbursable expense is a cost incurred by an employee on behalf of their employer or client, which is later compensated back to the employee following company policy or agreement terms.
Reimbursement is the process of compensating someone for their out-of-pocket expenses incurred on behalf of another party or employer.
A return flight refers to a round-trip airline ticket that includes both the departure from the initial location to the destination and the subsequent journey back to the original departure point.
Return on Investment (ROI) quantifies the financial gain or loss generated on an investment relative to its cost.
A round-trip ticket is a travel document that allows a passenger to travel from one location to another and then return to the original departure point.

Round-the-World (RTW) Tickets

Round-the-world (RTW) tickets are flight packages that let travelers visit several destinations “around the world” for one price. These tickets are offered by airline alliances (e.g., oneworld, SkyTeam, Star Alliance, etc.) and all flights must be booked on airlines in the alliance.
A route map is a detailed plan or diagram showing the paths or travel plans that can be followed to reach a destination or achieve a specific goal.

S

Same-day change refers to the ability to make modifications to a scheduled itinerary, such as a flight, on the same day of the original booking without significant penalties, often subject to availability and specific rules set by the service provider.
Seat assignment refers to the process of allocating specific seats to passengers on a transportation vehicle, such as an airplane, train, or bus, often completed during ticket booking or check-in.
Seat pitch is the distance between a point on one airplane seat and the same point on the seat in front of or behind it, usually measured in inches. This measurement is an indicator of the legroom available to passengers on a flight.
A seat upgrade refers to moving from one's originally assigned seat to a higher category, often for enhanced comfort or amenities. This can occur in various contexts, such as during a flight, at a concert, or in a sports stadium.
Seat width refers to the measurement of a seat's horizontal space, typically given in inches or centimeters, indicating how wide the seating area is from one side to the other.
A security checkpoint is a designated area where individuals and their belongings are screened to confirm adherence to established safety regulations before entering a secure or restricted environment. These checkpoints are commonly found at airports, government buildings, and large events to prevent prohibited items from being carried in.

Segment

A segment is a part or leg of an air itinerary, including one takeoff and one landing.

Shoulder Season

Shoulder season is the period between busy and quiet seasons in which prices are typically at a midpoint.
A shuttle service is a transportation option that runs between two or more fixed points at regular intervals, primarily used to transport people back and forth over short to medium distances. This type of service is common at airports, hotels, and event venues.

SITI, SITO, SOTI, and SOTO Tickets

SITI (Sold Inside, Ticketed Inside), SITO (Sold Inside, Ticketed Outside), SOTI (Sold Outside, Ticketed Inside), and SOTO (Sold Outside, Ticketed Outside) tickets represent different scenarios in airline ticket sales where “Sold Inside” or “Sold Outside” denote transactions within or outside the country where travel begins, while “Ticketed Inside” or “Ticketed Outside” indicates whether the ticket was issued within or outside of the country.
A skycap is an airport employee who assists passengers with their luggage, often providing curbside check-in services.

Smart Card

A smart card is a physical card embedded with a computer chip that hosts intelligent automation functions and security controls. Unlike a typical physical card with a magnetic strip, a smart card can perform multiple functions, since it encrypts additional information to interact with various payment terminals.
Spend analysis is the process of collecting, categorizing, and evaluating expenditure data to reduce costs, improve efficiency, and monitor compliance within an organization.

Spend Control

Spend control incorporates the processes of enforcing policies, whether manually or through technologies, to monitor and manage purchases made within a company.
A spend cube is a multidimensional data structure that allows companies to comprehensively analyze their spend across various dimensions such as suppliers, categories, and business units, boosting visibility and strategic decision-making in procurement processes.
Spend forecasting is the process of predicting future business expenses using historical data, trends, and economic conditions to optimize budgeting and financial planning.
Spend management is the comprehensive process of tracking, analyzing, and optimizing corporate spending to ensure cost-effectiveness and financial efficiency across all business operations.

Spend Management Software, Spend Management System, Spend Management Solution

Spend management software is a comprehensive digital solution that helps organizations track, control, and optimize their expenditures by providing tools for budgeting, expense tracking, and analysis of financial transactions.

Split Ticketing

Split ticketing happens when two separate tickets are purchased to build an itinerary, often to obtain a lower price. Travelers do this at their own risk, because if a connecting flight is missed, both airlines may elect not to rebook the traveler unless they purchase a new ticket.
A standby passenger is someone who waits for an available seat on a plane, train, or other form of transportation, and has a ticket that does not guarantee a specific seat on a particular service. They typically board if there are last-minute cancellations or no-shows.
A stopover is a deliberate break in a journey where passengers can spend a significant amount of time in a connecting city or location before continuing to their final destination; it is longer than a layover and often involves exploring or staying in the connecting city for a day or more.

Stopover Paid by Carrier (STPC)

A stopover paid by carrier is a program in which an airline might offer a free stopover to encourage travelers to use a less optimal connecting flight. Typically, the airline covers prearranged hotel, ground transportation, and meals during a stopover.
Subscription-based expense refers to ongoing, scheduled payments for continual access to products or services, typically involving automatic renewal until cancellation.
Sundry expenses refer to the miscellaneous, small or infrequent costs that are not classified under a major budget category in business accounting.

Sustainability

Sustainability is the practice of meeting the needs of the present generation without compromising the ability of future generations to meet their own needs. It focuses on environmental stewardship, social responsibility, and economic viability.

T

T&E (Travel and Expense) refers to the processes and policies managing corporate spending related to business travel and associated expenses.
Tax compliance refers to the process of adhering to all tax laws and regulations by accurately reporting and timely payment of taxes owed.

Through Passenger

A through passenger is a passenger who remains on the plane at a connecting stop on the way to their final destination.
A Ticket Deposit Receipt (TDR) is a preliminary proof of payment for future travel expenses.

Ticketing Agreement

A ticketing agreement is a formal arrangement between airlines or airline alliances that allows for the sale and issuance of tickets for connecting flights operated by different carriers.

Transportation Security Administration (TSA)

The Transportation Security Administration (TSA) is a U.S. government agency responsible for ensuring the security of transportation systems, primarily focusing on aviation, through the development and implementation of screening and security measures.
A travel advisory is a notice or guideline issued by government agencies or international organizations to inform travelers about safety, security, and health conditions in specific destinations. It advises potential tourists on the risks they might face, ranging from political instability and health outbreaks to extreme weather conditions.

Travel Agency

A travel agency is a business that provides services and assistance related to travel, including booking accommodations, flights, and other travel-related activities, to individuals or groups.
A travel agent is a professional who assists clients in planning and booking travel arrangements such as flights, accommodations, car rentals, tours, as well as other travel-related services. Travel agents work with individuals, businesses, and organizations to create customized travel itineraries that meet specific needs and preferences.
Travel booking is the process of arranging and securing transportation, accommodations, and other services for trips and vacations through online platforms, travel agencies, or direct providers.
Trip cancellation insurance is a type of insurance that provides coverage for travel expenses if you need to cancel your trip before departure due to unforeseen events such as illness, weather conditions, or other specified reasons listed in the policy.

Travel Expenses

Travel expenses are goods or services employees incur while traveling for business. Though many expenses may occur during a trip, it is up to the organization to decide what is considered an in-policy business travel expense vs. a personal travel expense.

Travel insurance is intended to cover medical expenses, trip cancellation, lost luggage, flight accidents, and other losses incurred while traveling, either internationally or domestically.

Travel Management Software, Travel Management System, Travel Management Solution

Travel management software or travel management system is a specialized digital solution designed to assist organizations in efficiently managing and optimizing their corporate travel processes — including booking, expense tracking, itinerary management, and reporting — to enhance control, compliance, and cost-effectiveness in business travel.

Travel Policy

A travel policy is a set of guidelines and rules established by an organization to govern and regulate employee business travel. It outlines permissible expenses, booking procedures, and other standards to ensure consistency and compliance with the company’s objectives.
Travel policy compliance refers to the adherence of employees within an organization to the established guidelines and rules for booking and expensing travel. The goal is to manage costs, adhere to safety protocols, and help ensure proper use of company resources while employees are on business trips. Compliance is usually monitored through regular audits and by using travel management systems.

Travel Program

A travel program encompasses the policies, procedures, and guidelines established by organizations to regulate and optimize travel-related activities. A managed travel program involves centralized control and coordination, while an unmanaged travel program may be less organized and less satisfactory.

Travel Risk Management

Travel risk management involves the systematic identification, assessment, and mitigation of potential risks and hazards associated with business travel, with the aim of ensuring the safety and well-being of travelers while maintaining business continuity.
Travel services is a broad category of travel-related offerings that encompasses transportation (flights, trains, buses), accommodation (hotels, resorts), car rentals, tour packages, travel insurance, and other related amenities, all aimed at meeting the needs of individuals or groups during their journeys.
A travel voucher is a document provided by airlines or travel agencies that confirms a customer's entitlement to a service, typically as a compensation for service disruptions or as a promotional benefit. It can be used instead of cash to book flights, hotels, or other travel services at a later date.
Trip interruption insurance is a type of coverage that helps reimburse travelers for prepaid, non-refundable expenses if they need to cut their trip short due to covered reasons such as illness, an accident, or other specific unforeseen circumstances.
A Trusted Traveler Program is a government initiative designed to facilitate expedited travel procedures for pre-approved, low-risk travelers through dedicated lanes and kiosks.
TSA PreCheck is a program by the Transportation Security Administration (TSA) in the United States that provides pre-approved travelers with expedited airport security screening, allowing them to experience shorter lines and keep their shoes, belts, and light jackets on, as well as leave laptops and compliant liquids in their carry-on bags.

U

U.S. Customs and Border Protection (CBP)

U.S. Customs and Border Protection (CBP) is a federal law enforcement agency within the Department of Homeland Security. It’s responsible for safeguarding America’s borders by enforcing customs, immigration, and trade laws, as well as facilitating legitimate travel and commerce.

Ultra-Low-Cost Carrier (ULCC)

An ultra-low-cost carrier (ULCC) is an airline that offers rock-bottom, no-frill fares. Seat selection, baggage, or drinks on the flight may be charged as an additional fee.
An unaccompanied minor is a child who travels without the presence of a parent or legal guardian.

Universal Air Travel Plan (UATP)

The Universal Air Travel Plan (UATP) is a global payment system specifically designed for the airline industry that allows businesses to issue and manage charge cards for corporate travel expenses and facilitates the centralized payment of airfare and related services. It is also accepted by some hotels, rail providers, and other suppliers.

Unmanaged Travel

Unmanaged travel refers to a situation in which individuals within an organization make independent and decentralized decisions regarding their business-related travel, without a centralized or coordinated approach from the organization. Individuals will often book through consumer websites, such as online booking tools (OBTs), or directly with suppliers. In unmanaged travel, there may be limited control over travel expenses, adherence to travel policies, and optimization of travel-related processes.

Unrestricted Fare

An unrestricted fare refers to a ticket with flexible terms that allows passengers to make changes or cancel flights without incurring significant fees or penalties, providing greater flexibility and freedom in travel plans.

Unused Ticket

An unused ticket is an airline-specific credit generated from canceling a non-refundable flight. These funds are not lost and can be applied toward a future flight on the same carrier.
An upgrade request is a formal or informal petition to increase or improve the existing features or functionality of a product or service.

V

Value-Added Tax (VAT)

Value-added tax (VAT) is a consumption tax levied at each stage of the production and distribution chain, ultimately borne by the end consumer and calculated as the difference between the value of goods and services sold and the cost of materials and services used in their production.
Variable expenses are costs that fluctuate in accordance with a business's production volume or service levels.
Vendor management is the process of overseeing and optimizing relationships and interactions with external suppliers for effective procurement and enhanced business performance.

Virtual Card Number (VCN)

A virtual card number (VCN) is a highly secure, single-use virtual credit card number used to minimize the risk of fraud.

Virtual Corporate Card

A virtual corporate card is a unique 16-digit corporate card number generated digitally. That card number can be used for online checkouts and downloaded to a mobile wallet for in-person purchases where virtual cards are accepted.
The Visa Waiver Program allows citizens from participating countries to visit the United States for tourism or business for up to 90 days without obtaining a visa. The program is designed to foster easier travel while promoting security through a pre-screening process.

W

A waitlist is a list of individuals who are waiting to access a service, product, or opportunity, typically used when demand exceeds available resources. People on a waitlist are usually prioritized for the next available opportunity.
In air travel, a window seat refers to a seat located next to the aircraft's window, offering passengers a view outside and a more private seating experience compared to aisle or middle seats.

Workcation

Workcation is a portmanteau of work and vacation that describes the act of employees conducting business from locations other than their usual workplace.
Working capital is the operational liquidity available to a business, calculated as current assets minus current liabilities.