Applying a Cancellation Policy to a Rate Type in RMS.

Overview

A Rate Type Cancellation Policy will apply to the Reservation any time that Rate Type is selected.

A Rate Type is the charge description that identifies a pricing structure used by Reservations.

Derived Rates determine their pricing using an adjustment amount set against the selected Master Rate Type.

A Rate Type will only be available for selection on a reservation if it has been linked with a Rate Period and Rate Table using a Rate Lookup.

A Cancellation Policy can be setup on a Rate Type, Derived Rate Type, Rate Type Property Rule, Rate Table and Rate Period or selected on the Reservation.

The Cancellation Policy applied to the reservation will be determined by the following hierarchy:

1. Selecting or changing the cancellation policy on a reservation will ignore any policy selected on any rate setup.
2. A cancellation policy set on a Derived Rate will only apply if no cancellation policy is selected on the Rate Type or Derived Rate Type used as the 'Derived From'.

Tip! A 'Derived Derived' rate is a rate using a 'Derived From' rate that is also a Derived Rate.

Important! The Cancellation Policy applied at the time the reservation is created will not automatically change if the Rate Type is updated later. If the new Rate Type has a different Cancellation Policy, the original policy will remain on the reservation until it is manually updated.

Please Note! RMS is highly configurable. Some Terminology, User Access & Permissions, Images, Labels, and Functions used in these articles may differ from your setup. CLICK HERE to find out more.

Guide

In the side menu of RMS, go to Charts > Rate Manager.

1. Select 'Rates'.
2. Select 'Rate Types'.
   
    
3. Select an existing Rate Type,
4. Select 'Edit'.
   
    
5. Select a Cancellation Policy.
6. Select 'Save/Exit'.
   

Please Note! The selected Cancellation Policy will apply to Reservations created after the changes are saved or when an existing Reservation is updated to this Rate Type.