On The Dotted Line: An Overview of Contracts for the Meeting Professional

In the last post we discussed how to create a thorough, effective RFP, in this post we will delve deeper and explore negotiations and contracts.

Unless you have a background as an attorney, chances are some or all aspects of contracts leave you feeling uneasy at times, yet with some simple precautions, you will find contracts less daunting and more of a resource at your next event.Contracts

We’ve all checked that pesky little “I have read and understand these terms and conditions” box at the bottom of a document knowing we skimmed it, at best. When it comes to vendor or venue contracts for your events DON’T do it!! Read each contract OUT LOUD, this will give you the most thorough understanding of what you can expect at your event and ensure that you will be well prepared, and on the same page as your vendor or venue the day of your event.

Have a meeting with the vendor to discuss negotiations and contracts before signing, make sure you are interpreting the contract the way it was intended, and make requests if something is unclear or inopportune. Remember you may not be able to revise the contract once you sign it, this is the time to iron out any mistakes, ask questions, and add concessions.

Establish effective communication with those who will impact your event; the contract is a set of commitments between you and the company with which you are signing, know who your project manager or lead is and invite them to your pre-con. Knowing your go-to person is informed and prepared for your event will give you peace of mind, and give them insight on how to best help you make your event outstanding.

Your vendors and venue should become your partners in planning, approach them accordingly and you will be on the path to success.