Signing a contract with your chosen venue is undeniably, the most important decision you can make in the event planning process. From vendors to caterers, the venue can dictate your abilities and limitations when planning an event. For this reason, getting all of the necessary details and clauses in your contract is imperative. We’ve outlined some important aspects of a venue you should be sure are outlined in a contract before officially sealing the deal:
1. Attrition penalty: If you are booking hotel rooms for guests at your event, this clause is very important. It ensures you fulfill a minimum number of room bookings at a hotel. Fees will be applied if a certain percentage is not met, so be sure to properly evaluate how many rooms you expect to book and clarify what fees will be imposed if not met.
2. Cancellation policy: In the case that you need to cancel your event or venue rental, a cancellation policy’s dates and fees are important to assess. Be mindful of the time frame you have to cancel and any fees and non-refundable deposits involved. In the same sense, check if there any overtime fees for rental spaces.
3. Vendor and catering options: Be sure you are aware of which vendors you will have to outsource or which you will have to use through the venue. If there are any specific items that you are guaranteed through the venue such as tables, linens, or A/V services, make sure they are outlined in the contract. The same goes for catering—can you bring an outside caterer and what are the extra costs involved? If not, will using one of the venue’s recommended caterers be able to provide what you need for your event?
4. Weather Plan B: If you plan on using outdoor spaces, be sure your venue allocates spaces that can be used in the case of last minute weather mishaps.
5. Set up times: If your production requires set up on the day before, or a full day of setting up, be sure your venue outlines in the contract the exact time frame you have for vendors to unload and set up. This aspect should also include any storage rooms or loading docks you will require.
These are just a few of the many aspects that should be considered before signing a contract! Need event assistance and planning services? Call Eventrics today for full event planning and management services for meetings, conferences, conventions, corporate, social and special events!