agency sales – tickets sold through travel agencies. Generally, USA agency sales are settled through ARC (Airline Reporting Company), which runs the ASP (Area Settlement Plan) and international agency sales are settled through IATA’s BSP (Billing Settlement Plan) system. 

direct sales – an airline’s sales through its website, airport ticket counter, or city ticket office, that are not sold by third-party travel agents, and not settled through any third-party system. 

exchange – the replacement of one or more coupons on a ticket.

net-fare – aka the “commissionable” fare – the fare on a ticket after taxes and fees are subtracted from the amount paid.  

refund – the cancellation of a ticket, in which a passenger’s money is returned.

payment – FPAM – short for “Form of Payment Amount”, a term used for total ”out-of-pocket” amount including ticket prorated fare, commissionable amount, and taxes.