The value of the ticket belongs to the company once the ticket is issued.
When the ticket is canceled, it will go to the unused ticket bucket. The unused tickets are managed by the travel agency and show in Concur for the traveler to use for their next trip. Unused tickets cannot be used by the traveler for personal trips.
Fees related to the re-booking of the unused ticket are paid by the company..
I hope this helps.
We allow ticket exchanges as well, but require a reason code to be chosen about why the exchange. We have different travel classes, but that is the process for the main group.