Guaranteed reservation

{
  "id": "MLC-T-LAW-002369",
  "term": "Guaranteed reservation",
  "field": "Law",
  "definition": "A booking for accommodation or a service that is held with a payment or a credit card number, obligating the service provider to hold the reservation regardless of the guest's arrival time. If the guest fails to arrive or cancel within the specified timeframe, the provider is entitled to charge for the reserved service. This arrangement protects both the guest's booking and the provider's potential revenue.",
  "url": "https://mlchart.com/terminology/law/guaranteed-reservation/"
}