Reservations & ticketing Travel technology glossary

ACMAgency Credit Memo

Also called agency credit memoagent credit memocredit memo

Definition

An ACM (agency credit memo) is a credit an airline issues to a travel agency, usually through BSP or ARC, to return money owed to the agency on a ticket or related document. It is the counterpart of an ADM and typically corrects overcharges, refund errors or debit memos that were later found to be wrong.

What ACM means

Settlement between airlines and agencies sometimes goes wrong in the agency's favour too. When an airline finds that an agency paid too much, or was charged unfairly, it issues an ACM. The credit appears in the agency's settlement and reduces what the agency owes in that billing period.

IATA groups the two documents together: its customer portal describes ADMs and ACMs as adjustments issued by an airline for any incorrectly reported document. Both are created by the airline, not the agency, and in BSP markets they are issued and viewed in BSPlink. IATA's guidance for airline users lists three ways to raise them there: manually online, from a document enquiry, or by mass upload.

The reasons depend on each airline's policy. Cathay Pacific, for example, says it issues ACMs to reimburse or adjust agents on cash activities after errors by the agent or the BSP processing centre, and to offset an ADM already billed when the agent's dispute turns out to be correct. ANA's ACM policy covers retroactive adjustment of refunded fares, taxes and penalties on cash tickets, and adjustment of earlier ADMs.

In the United States, the same adjustments run through ARC. Either way, an ACM depends on the airline agreeing that money is owed, so agencies need clear records to support their claim.

How ACM works

An ACM starts with an airline decision that the agency is owed money, then flows through settlement as a credit.

  1. Error identifiedThe agency, the airline or the settlement provider spots an overpayment, refund mistake or incorrect debit memo.
  2. Agency raises the issueWhere the airline caused the error, the agency contacts it or disputes the related ADM with supporting evidence.
  3. Airline reviewsThe airline checks the ticket, fare and settlement data under its ACM policy and decides whether a credit is due.
  4. ACM issuedThe airline creates the ACM in the settlement system, such as BSPlink, with the amount and reason.
  5. Credit settledThe ACM is included in the agency's billing and offsets the amount the agency pays in that period.
  6. ReconcileThe agency matches the ACM against the original ticket or ADM in its back-office records.

ACM in practice

Verified examples from airline ACM policies:

  • Cathay Pacific: if an ADM has already been processed by BSP and the agent's dispute is upheld, the airline issues an ACM to offset it. Its policy also says credit card overpayments are only returned to the card used to buy the ticket.
  • ANA (policy valid from 1 April 2026): ACMs cover retroactive adjustment of refunded fares, taxes and cancellation charges on cash tickets, and the adjustment of ADMs. For GDS sales they go to the ticketing IATA agent and for NDC sales to the NDC seller.

Illustrative: an agency refunds a cash ticket but the refund is processed with a cancellation fee higher than the fare rules allow. After the agency shows the airline the correct fee, the airline issues an ACM for the difference, which appears in the next BSP billing.

Who uses it

Travel agenciesAgencies track incoming ACMs to recover money from refund errors and successful ADM disputes.
AirlinesAirlines use ACMs to correct their own or settlement errors without separate bank payments to agencies.
ConsolidatorsTicketing agencies pass ACM credits on to the sub-agents whose bookings generated them, under their own agreements.
Back-office teamsAccounting staff reconcile ACMs with tickets, refunds and earlier debit memos during BSP reconciliation.

Advantages and limitations

Advantages

  • Returns money to agencies inside the normal settlement cycle, without separate payments.
  • Gives a formal record that an earlier charge or calculation was wrong.
  • Lets airlines reverse ADMs cleanly when a dispute succeeds.
  • Visible in BSPlink, so agencies can trace credits against their documents.

Limitations

  • Only the airline can issue an ACM, so the agency depends on the airline accepting its claim.
  • ACM reasons and processes differ between airline policies.
  • Credits can take time, especially when tied to ADM disputes that the airline reviews first.
  • Card-paid refunds usually go back to the card, not to the agency as an ACM.

Frequently asked questions about ACM

Can a travel agency issue an ACM itself?

No. ACMs are created by the airline, or on its behalf, in the settlement system. IATA's BSPlink guidance describes ACM issuance as an airline-user function. An agency that believes it is owed money must contact the airline or dispute the related debit memo and ask for a credit.

When do airlines issue agency credit memos?

Common reasons in published airline policies are correcting refunds that were calculated wrongly on cash tickets, fixing errors made by the agent or the settlement processor, and reversing a debit memo that was already billed but later disputed successfully. Each airline lists its own grounds in its ADM and ACM policy.

Where can a travel agent see ACMs in BSP?

In BSP markets, ACMs appear in BSPlink alongside ADMs. IATA's customer portal points agents to the ADM and ACM query menu to view the details of memos they have received. The credit is then included in the agency's billing for that settlement period.

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Sources and further reading

  1. IATA Customer Portal — What is an ADM and ACM?
  2. IATA Customer Portal — How can I as an airline user issue an ADM/ACM?
  3. Cathay Pacific — ADM/ACM policy
  4. ANA — Agency Debit Memo (ADM) / Agency Credit Memo (ACM) policy