Negotiating a Special Event Contract
Negotiating a Special Event Contract
by Martin Cohn
You can no longer rely on a handshake to seal your agreement with a venue for your special event.
According to Exhibitor Magazine, the best way to negotiate a good hospitality deal is to sit down with a facility representative and discuss your options. You should come prepared with the following information:
· Budget. Know the limit of what you can spend.
· Agenda. Know what you want from the facility.
· History. Know what happened at your last event.
· Dates. Flexibility can lower your costs.
A contract with a special event venue should minimimally have the following nine components:
1. ADA requirements.
2. Cancellation clause. If you have to cancel, avoid a 100% liability. Facilities should agree to pursue reselling space,
3. Attrition clause. Again you can't book all the sleeping rooms to which you've agreed, insist that the hotel actively pursues reselling the space.
4. Mitigation clause. Methods for reducing losses on either side in the event of a dispute should be listed.
5. Dispute resolution mechanism. If the contract is broken or breached, look to resolve disputes without formal court proceedings.
6. Liquor liability. Know the policy and ensure that the staff is trained.
7. Condition of premises. Make sure the facility will be in workable conditions (i.e. not under renovation).
8. Legal fees. State that you will cover your legal fees but not those of the facility.
9. Hold harmless clause. If an accident happens and it's the venue's fault, you should not be held liable.
Regardless of the size of your event, proper negotiation and written contracts can save you money.
Negotiating a Special Event Contract - To learn more about this author, visit Martin Cohn's Website.
Like this article? Share it with your friends
Negotiating a Special Event Contract
by Martin Cohn
You can no longer rely on a handshake to seal your agreement with a venue for your special event.
According to Exhibitor Magazine, the best way to negotiate a good hospitality deal is to sit down with a facility representative and discuss your options. You should come prepared with the following information:
· Budget. Know the limit of what you can spend.
· Agenda. Know what you want from the facility.
· History. Know what happened at your last event.
· Dates. Flexibility can lower your costs.
A contract with a special event venue should minimimally have the following nine components:
1. ADA requirements.
2. Cancellation clause. If you have to cancel, avoid a 100% liability. Facilities should agree to pursue reselling space,
3. Attrition clause. Again you can't book all the sleeping rooms to which you've agreed, insist that the hotel actively pursues reselling the space.
4. Mitigation clause. Methods for reducing losses on either side in the event of a dispute should be listed.
5. Dispute resolution mechanism. If the contract is broken or breached, look to resolve disputes without formal court proceedings.
6. Liquor liability. Know the policy and ensure that the staff is trained.
7. Condition of premises. Make sure the facility will be in workable conditions (i.e. not under renovation).
8. Legal fees. State that you will cover your legal fees but not those of the facility.
9. Hold harmless clause. If an accident happens and it's the venue's fault, you should not be held liable.
Regardless of the size of your event, proper negotiation and written contracts can save you money.
Negotiating a Special Event Contract - To learn more about this author, visit Martin Cohn's Website.
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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