Finding the perfect event location can be an exciting moment in the preparation of your event, but then comes the contract. How do you deal with this and what exactly should you pay attention to? Anne Otten, Managing Director of In-Act Marketing & Organization, emphasizes the importance of planning ahead. This means you need to consider different scenarios and evaluate their potential impact on the contract.
Ask yourself questions such as: “What if I have fewer participants than expected? Can I still adjust my Daily Delegate Package (DDR) free of charge?” Or worst-case scenario, “What if I have to cancel or reschedule the event due to a pandemic, natural disaster or political instability? Will I get my deposit back?” These matters must be recorded contractually. It is often possible to negotiate these matters before the contract is signed. Thanks to decades of international experience, Anne knows how to limit these risks.
The current market shows travel budgets are shrinking, room inventory is constrained, and sales support levels at hotels are on the decline. Venues are raising their prices and terms and conditions are more strict than a few years ago. Here it is essential to know how to enter the negotiations and what to look for. Anne identifies solutions that meet your criteria and negotiates rates, and concessions. Her goal is to facilitate the contracting process with a minimal financial risk for the client.
In the world of event planning, it is clear that contract negotiations and risk management are crucial aspects of making an event a success without unpleasant (financial) surprises. With the right preparation and experience, you can both find your dream location and complete your contract correctly.
Below 4 tips when concluding a contract:
- Have all services and goods been described and ordered? In addition to regular matters, also consider waste processing and security. A hotel or location usually looks at the total turnover of an event. The greater the turnover, the more benevolent the counterparty might be.
- Do you need a permit for your event? What do you need to provide for this and what costs are involved?
- Especially for international events, monitor the local situation, political stability, government, pandemics, etc.
- Is a solid force majeure included in the contract? If not, create one.
If you need help with this, please email or call us and we will make an appointment to discuss what we can do for you. firstname.lastname@example.org / 024-3600849