liquidated damages. Compensation sought by one party when another party cancels or otherwise abrogates an agreement between the two; in theory, the sum sought compensates the aggrieved party for income that would have been received had the contract continued in force. Often an issue between travel agents and GDS vendors.
To find the abbreviation, acronym, or term you’re looking for, use the Search box (below) or click on any letter (above).
Become A Home-Based Travel Agent
Join the home-based travel revolution. A complete home study course with a no-risk guarantee. Click here.