Hi The Boob,
I very much doubt that is the case but would appreciate the reference to where this is verified.
However the only way they would do that would be if the other party to the transaction are also a member of IATA such as a travel agency "and" they chartered the whole aircraft. I very much doubt that the Solomon Island Government quite meet that criteria.
There is no way that IATA take charter payment risk from just anyone. If they did then any operator could just go and find a dodgy charterer.
Happy to admit my mistake with the reference to the old news.