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Event Contracts: Agree to Be Agreeable

SmartMeetings

Negotiation experts share tips for building win-win event contracts The ROI is in the details when drafting a vendor contract. A win-win contract allows everyone to feel that their biggest risks are covered and they can partner in good faith to execute confidently while working creatively to deliver the best event possible.

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Event Planning Has Risen in the Ranks of Most Stressful Jobs

Velvet Chainsaw

Meanwhile, nearly every article I read or industry panel I attend is proclaiming that our industry is nearing a full recovery. Event planners are experiencing sticker shock from rising costs for audiovisual, food and beverage, and other direct meeting expenses. Price increases. Tough times require creative thinking.

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A Breakdown of Post-Pandemic Contract Clauses

Smart Meetings

Editor’s note : The lawyer quoted in this article is not providing legal advice. Post-Covid Contract Solutions.”. We’ll delve into a condensed review to address what and what not to include in your venue contract, as well as negotiation tactics and what can potentially trigger a force majeure. Who’s Got Jurisdiction?

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Cut Costs, Not Corners

SmartMeetings

For example: If you’re negotiating a contract in 2024 for a 2027 meeting, lock in menu pricing based on current prices. When it comes to F&B, negotiate a flat discount rate versus a discount if you achieve the contracted minimum. Food: Yes, plated dinners sets a certain tone. This article appears in the July 2024 issue.

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F&B Problems: Waiting for Waitstaff

MeetingsNet

Attendees expect a satisfying food-and-beverage experience regardless of labor issues. While a meeting’s destination, education, and networking opportunities generally drive attendee interest, post-event surveys consistently show that food-and-beverage elements color the impression attendees have of an event’s success.

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The Art of Room Blocks

SmartMeetings

In advance: When setting up the contract, make sure it measures attrition on a cumulative basis versus per-night basis. Another contract solution is to ask for the option for the hotel to resell any unused rooms to lessen the attrition, if applicable. Set up the contract to allow for a post-meeting audit. Our quick save?

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The New Bottom Line

SmartMeetings

How to prepare for 2023 contract negotiations Yes, we’re out of the pandemic shutdown, but it’s not back to “business as usual.” From workforce shortages to inflation worries, what should event planners be looking for when it comes to 2023 contracts? On the “high” side: Larger deposits up-front for hotel contracts.