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Avoid pitfalls and protect your event Contracts are the lifeblood and backbone of the meetings industry. Negotiating contracts is the first step before confirming speakers, color themes or catering options. Budget Cuts and Cancellations Shifts are bound to happen, especially for financial reasons.
It wasn’t long ago that force majeure was commonly perceived as insignificant boilerplate language added to the end of an event contract. Court of Appeals verdict, a new precedent for event contracts may have been set, as MeetingsNet reports. Now four years later, in the wake of a U.S.
Over the last year, Smart Meetings wrote about contract and budgeting tips and trends this year for the event planner who wants to keep on top of their financials, so they can keep creating memorable experiences. What they aren’t so great at is considering the nuances in your financial plan. In short, think big.
Three primary risk categories are emerging as organizations weigh their options for major conferences in 2021: Mitigating financial risk. Mitigating Financial Risk. Financial predictions. Financial challenges continue to be at the forefront for many associations. Contract concerns. Health, safety and duty of care.
Experts offer tips and ideas for meeting professionals As the year slowly comes to a close, many financial and insurance meeting planners may be thinking about what they should be keeping on their radar. Meeting planners may also want to consider alternative cities that may offer better financial options. growth in innovation and 15.7%
Financial and insurance industry meeting planners face complex demands. Learn More: From Checkboxes to Strategy: Implementing and Leading Sustainable Event Practices Topics included AI adoption, succession planning, contract negotiations, neurodiversity affordances, transportation management and sustainable sourcing.
Building flexibility into contracts through substitutions and force majeure protections can help mitigate financial surprises and keep events on track. Skift Take: Tariffs can trigger unexpected cost spikes for both planners and suppliers. Andrea Doyle Read the Complete Story On Skift Meetings
A Breakdown of Post-Pandemic Contract Clauses. New Contract Essentials in an Ever-Changing Environment. Contracting in the current Covid climate is complex—everything feels unsettled, so it’s hard to know how to plan. Contracts and Negotiations Amid Covid: Best of What’s Worked in 2021.
The previous low for occupancy was during the financial crisis in 2009 when occupancy was 55 percent. However, from past experience, any time that there has been a shift from a seller’s to a buyer’s market, those contracts signed during a seller’s market just flat out had to be updated. From Recovery to Reform. Remove Barriers.
Now, the question is how to build contracts moving forward. Phoenix-based hotel attorney Lisa Devlin sat down for some rapid-fire questions about what is and isn’t working today and offered her prescription for a win-win solution to trading contract clauses. Read More : A Breakdown of Post-Pandemic Contract Clauses.
Meet the Experts Ellie Hurley, events director at Financial and Insurance Conference Professionals (FICP), has spent the past three years leading FICP’s event-specific approach to sustainability and social impact and also holds the Sustainable Event Professional Certificate (SEPC) from Events Industry Council (EIC).
Elena joins the venue as Sales and Marketing Director from Hyatt Place London Heathrow Airport, where she re-launched the hotel post-pandemic, built a brand-new corporate base, and secured several major airline contracts. New Finance Director EeLain Ong has worked across multiple sectors throughout her 28-year career in financial services.
In any type of contract work, miscommunication can arise between the contractor and client. You need a written contract to outline the terms and conditions of your service. A contract will be the go-to source in the event of a dispute. So be sure to always include these features in your event planning contract.
This perfect storm significantly threatens the sustainability of associations and adds tremendous pressure to those who are organizing events to find ways to improve their financial performance. Event planners should consider asking key suppliers to add a Service Level Agreement (SLA) to their contract.
One of the best-attended sessions of the 17th annual Pharma Forum conference for medical-event planners, held virtually this year from June 15-19, was “Meetings Contracts in the Post-COVID Era.” In other words, the cleaning protocols listed in the contract are solely the responsibility of the property to fulfill and monitor.
Financial and insurance industry meeting planners face complex demands. Learn More: From Checkboxes to Strategy: Implementing and Leading Sustainable Event Practices Topics included AI adoption, succession planning, contract negotiations, neurodiversity affordances, transportation management and sustainable sourcing.
Koleen Roach, director of meetings and conference management at Securian Financial Group, led a panel of veteran explainers during Financial and Insurance Conference Professional ’s 2022 Annual Conference at Omni Boston Hotel at the Seaport. Once the contract has been signed, the tough talk doesn’t stop. By the Numbers.
Financial and insurance industry meeting planners face complex demands. Learn More: From Checkboxes to Strategy: Implementing and Leading Sustainable Event Practices Topics included AI adoption, succession planning, contract negotiations, neurodiversity affordances, transportation management and sustainable sourcing.
What contracts need to include and how to negotiate those from third parties. As a result, travel planners are shifting the focus to their budgets and contracts with third parties. Guest safety has become a focal aspect of incentive travel planning. Costs are changing and budgets must follow suit.
SM What are the legal and financial limitations planners need to keep in mind when hiring freelance staff? TJ When hiring freelance staff, planners need to be aware of several legal and financial considerations: Worker Classification : Proper classification of workers is crucial to avoid penalties.
Financial and insurance industry meeting planners face complex demands. Learn More: From Checkboxes to Strategy: Implementing and Leading Sustainable Event Practices Topics included AI adoption, succession planning, contract negotiations, neurodiversity affordances, transportation management and sustainable sourcing.
A lawyer with 25 years of experience in hotel and group contracts, she doesn’t mince words when it comes to planners needing to take the steps necessary to handle any complications that might arise. Financial Risks. In these cases, Delvin said, it all comes down to making sure the contract covers every eventuality. “A
There has been a significant increase in what we call variable or on-demand planner contracting tied to third-party planning organizations,” said Todd Taranto, president of Cadre , a placement firm for event industry freelancers. She now finds herself contracting for fellow FICP members.
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.
Financial and insurance industry meeting planners face complex demands. Learn More: From Checkboxes to Strategy: Implementing and Leading Sustainable Event Practices Topics included AI adoption, succession planning, contract negotiations, neurodiversity affordances, transportation management and sustainable sourcing.
As an event planner, your contract is one of the most important documents in your business. Writing a solid event planning contract helps ensure that everyone involved understands their roles and responsibilities, as well as what they can expect from the event itself. So, let’s get started!
What contracts need to include and how to negotiate those from third parties. As a result, travel planners are shifting the focus to their budgets and contracts with third parties. In each section, Glynn and Eidsvold offer analytical observations: Incentive travel is returning, however slowly.
Meetings in the financial and insurance sector require outside-the-box thinking. The economy was humming along before the coronavirus hit, but even then the majority of meeting planners in the financial and insurance industries were keeping their budgets in neutral. Financial and insurance meetings in the U.S.
Financial and insurance industry meeting planners face complex demands. Learn More: From Checkboxes to Strategy: Implementing and Leading Sustainable Event Practices Topics included AI adoption, succession planning, contract negotiations, neurodiversity affordances, transportation management and sustainable sourcing.
An organization that undervalues the importance of procurement often pays for it in numerous ways—financial and legal. A 7-Step Process A true process will go beyond RFP sourcing and site selection, contracting and negotiations. Step 4: Site Tour and Evaluation Thoroughness and attention to detail are key.
Budget constraints respondents indicated frustration over budget cuts, rising costs, and the challenge of delivering high-quality events with reduced financial resources. Labor costs, particularly union labor and in-house AV contracts, are viewed as excessive, and the lack of flexibility to negotiate better rates leads to resentment.
Financial and insurance industry meeting planners face complex demands. Learn More: From Checkboxes to Strategy: Implementing and Leading Sustainable Event Practices Topics included AI adoption, succession planning, contract negotiations, neurodiversity affordances, transportation management and sustainable sourcing.
Financial and insurance industry meeting planners face complex demands. Learn More: From Checkboxes to Strategy: Implementing and Leading Sustainable Event Practices Topics included AI adoption, succession planning, contract negotiations, neurodiversity affordances, transportation management and sustainable sourcing.
Creating a budget will keep you on track both financially and mentally. It’s a good idea to go completely paperless when it comes to receipts, invoices, and contracts and instead go digital and store them on your Google Drive or iCloud. If you prefer something a little more streamlined, you can also access our free checklist.
Financial and insurance industry meeting planners face complex demands. Learn More: From Checkboxes to Strategy: Implementing and Leading Sustainable Event Practices Topics included AI adoption, succession planning, contract negotiations, neurodiversity affordances, transportation management and sustainable sourcing.
Financial and insurance industry meeting planners face complex demands. Learn More: From Checkboxes to Strategy: Implementing and Leading Sustainable Event Practices Topics included AI adoption, succession planning, contract negotiations, neurodiversity affordances, transportation management and sustainable sourcing.
Financial and insurance industry meeting planners face complex demands. Learn More: From Checkboxes to Strategy: Implementing and Leading Sustainable Event Practices Topics included AI adoption, succession planning, contract negotiations, neurodiversity affordances, transportation management and sustainable sourcing.
A Guide for Event Profs in the Age of Rising Costs Welcome to 2024, where contract negotiations continue to be a critical but dreaded aspect of event planning. As always, negotiating contracts remains a crucial component of success, allowing organizers to maximize their return on investment and deliver exceptional events.
Financial and insurance industry meeting planners face complex demands. Learn More: From Checkboxes to Strategy: Implementing and Leading Sustainable Event Practices Topics included AI adoption, succession planning, contract negotiations, neurodiversity affordances, transportation management and sustainable sourcing.
Corporate events require significant time, effort, and financial investment. Webinars These online seminars or presentations allow companies to share expertise, product information, and thought leadership with audiences globally. Read more: How to Host a Successful Webinar – The Ultimate Guide Why is Corporate Event Planning Important?
Vague contracts and proposals: Lack of specific details and clear boundaries leaves room for client interpretation. Heres how to do it: Crystal-clear contracts and proposals Your contract and initial proposal serve as the foundational pillars in your fight against event scope creep.
Financial & Insurance Conference Professionals (FICP) brought 700 thought leaders together at JW Marriott Marco Island Beach Resort in Florida to prepare meeting professionals for whatever comes next with a call to reflect, discover and recharge.
Cassidy reported that financial and insurance companies were the first to see the value, but others have contracted as well when they saw how simple the program was to use. The post Out of This World Gifting appeared first on Smart Meetings.
The financial and insurance industry is based on relationships, and the more you can engage your clients, the more you can strengthen the relationship. Alternative plans covered in the contract also need to include the possibility that a group may outgrow a venue if social-distancing guidelines make the space unworkable.
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