Banking Points Question

[TinkTatoo]

Could someone please explain the rules for banking points. If he had a contract with an August use year and banked the August 05 points when would we have to use them by.

We would probably only use some of them in August 06 and would not need the rest till August 07

 

[MickeyMcMouse]

Here goes (hopefully)

Your August contract runs from Aug to July each year, you would bank your 2005 points into your 2006 year.

i.e. you would have no points to use aug 2005 to july 2006 but would have double points to use aug 2006 to july 2007.

You should remember to specify using your banked points when making a booking during the 2006 -07 period. (we didn't and found out they had used our original years' points and we still had the banked ones left)

Once august 2007 starts you must have used ALL your banked points from 2005 to 2006 or you will lose them.

If you have too many points in the 2006 to 2007 period you would have to bank your 2006 to 2007 points into 2007 to 2008.

Does that make any sense

regards

David

 

[TinkTatoo]

Hi David

Thanks for the reply - I think I've got it

So if we bank our points in August 2005 we have to use all those points before the end of July 2007 we can't re-bank them for an extra year???

We would actually need to use them in August 2007 but it sounds like this is not possible.

If this is the case I need to get a contract with a use year after August

 

[MickeyMcMouse]

So if we bank our points in August 2005 we have to use all those points before the end of July 2007 we can't re-bank them for an extra year???

Correct, but if you are using points in 2006-07 you would use your banked points from 2005-06 and then bank your 2006-07 points into 2007-08.

Remember if you need a lot of points in aug 2007 (ie aug 2007 - july 2008) you can always borrow from the aug 2008 - july 2009 year

This is getting a bit confusing

David

 

[TinkTatoo]

It is getting confusing but I have got my head round it - Thanks