Reservation Value definition
Examples of Reservation Value in a sentence
In case of Cancellation less than 7 days and more than 2 days before the Commencement Date, the Contracting Party is obliged to pay 60% of the Reservation Value to the Hotel.
In case of Cancellation less than one month and more than 14 days before the Commencement Date, the Contracting Party is obliged to pay 15% of the Reservation Value to the Hotel.
In case of Cancellation less than 14 days and more than 7 days before the Commencement Date, the Contracting Party is obliged to pay 35% of the Reservation Value to the Hotel.
In case of Cancellation less than 48 hours before the Commencement Date, the Contracting Party is obliged to pay 100% of the Reservation Value to the Hotel.
An amount of 50% of the Reservation Value must be paid within 14 days after the Contract has been concluded by means of timely transfer to a Center Parcs bank account or by means of a cash payment.
In a case of "No Show" the Customer must always pay the complete Reservation Value.
The Customer owes the Reservation Value as included in the Contract.
In special cases - in particular when it is a booking with a Reservation Value above € 100,000, Center Parcs has the right to ask the Customer to provide further financial securities before carrying out the services.
The amount of the cancellation fee will depend on the date of termination: • In the case of a termination more than 12 weeks before the date on which in accordance with the Contract the first service would have been performed the Customer must pay Center Parcs 25% of the Reservation Value.
Any liability of Center Parcs is always limited to the Reservation Value or maximally the amount of compensation to be provided by the insurer of Center Parcs, if this amount is higher than the Reservation Value.