Podcast
Questions and Answers
What is the key reason why oral contracts are not applicable in the hospitality industry?
What is the key reason why oral contracts are not applicable in the hospitality industry?
What should be detailed in a contract to avoid misunderstandings regarding services provided in the hospitality industry?
What should be detailed in a contract to avoid misunderstandings regarding services provided in the hospitality industry?
Which subject area is NOT typically included in a contract for hospitality services based on the provided text?
Which subject area is NOT typically included in a contract for hospitality services based on the provided text?
What does the termination clause provide legal protections for?
What does the termination clause provide legal protections for?
Signup and view all the answers
What does the indemnification clause protect the hotel from?
What does the indemnification clause protect the hotel from?
Signup and view all the answers
What does the attrition clause outline potential damages or fees for?
What does the attrition clause outline potential damages or fees for?
Signup and view all the answers
What is 'double dipping' associated with in the context of event contracts?
What is 'double dipping' associated with in the context of event contracts?
Signup and view all the answers
What does the proforma invoice confirm?
What does the proforma invoice confirm?
Signup and view all the answers
What do deposit policies typically include?
What do deposit policies typically include?
Signup and view all the answers
What are example of cancellation policies based on?
What are example of cancellation policies based on?
Signup and view all the answers
What do example of room attrition policies include penalties for?
What do example of room attrition policies include penalties for?
Signup and view all the answers
What do example of F&B attrition policies include charges for?
What do example of F&B attrition policies include charges for?
Signup and view all the answers
What does the termination clause provide legal protections for?
What does the termination clause provide legal protections for?
Signup and view all the answers
What does the attrition clause outline potential damages or fees for?
What does the attrition clause outline potential damages or fees for?
Signup and view all the answers
What do deposit policies typically include?
What do deposit policies typically include?
Signup and view all the answers
Study Notes
Event Contracts and Policies Overview
- Contracts should include clauses for payment schedule and deposits, cancellation terms, termination (force majeure) clause, indemnification clause, group rate, room blocks, and damages policy
- Payment details, initial and rest of deposits due date, and cancellation terms should be clearly stated in the contract
- The termination clause provides legal protections for cancellations due to reasons beyond control
- The indemnification clause protects the hotel from legal action due to client negligence or damage
- Attrition clause outlines potential damages or fees for not fulfilling minimum commitments
- "Double dipping" is an activity done by hotels and customers, and planners can charge hotels "reverse attrition"
- Example of cancellation policies includes specific percentages invoiced based on the proximity to the event date
- Example of room attrition policies includes penalties based on reductions in the number of contracted room nights
- Example of F&B attrition policies includes charges for cancellations affecting the expected attendees
- Example of meeting rooms attrition policies includes penalties based on the proximity to the arrival date
- Deposit policies include a first deposit of 15% on contract signature and subsequent deposits leading up to the event
- Proforma invoice is issued to confirm the buyer’s intentions for the event and is a 'good faith' agreement with specific details and not a payment demand. It can be converted to a completed invoice if changes are requested.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Related Documents
Description
Test your knowledge of event contracts and policies with this overview quiz. Explore key clauses to include in contracts, such as payment schedule, termination, and indemnification, as well as attrition policies and deposit details. Perfect for event planners and hospitality professionals.
