What is the term for the date when a deposit or full payment is due for a booking?

The term for the date when a deposit or full payment is due for a booking is known as the option date. This is the timeframe during which a client can decide to either proceed with the booking by making the necessary payment or allow the option to expire, making the availability of the reservation uncertain.

The option date is crucial for both the travel agent and the client; it allows the client time to consider their travel plans without losing their reservation immediately and ensures the travel agent can manage bookings effectively. It serves as a key point in the booking process, helping to eliminate confusion regarding payment responsibilities and timelines.

In contrast, while terms like payment deadline and confirmation date might refer to similar concepts in booking processes, they do not specifically capture the idea of an option being held until the decision to confirm is made through payment. The final booking date typically refers to when the booking must be finalized, rather than focusing exclusively on payment obligations.