W7 contracts & rf ps[1]
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W7 contracts & rf ps[1]

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W7 contracts & rf ps[1] Presentation Transcript

  • 1. RFPs & Contracts
    • RFPs
      • What are they
      • When would you use one
      • Samples
    • Contracts
      • What are they
      • Sample
      • Contracts & your Wish Events
      • Negotiation…
  • 2. RFP – Request for Proposal
    • What are they?
    • An invitation for suppliers to submit a proposal for their services.
    • When would you use them?
    • Finding a venue for your event
    • Printing
    • Entertainment
    • Décor/show services
    • Audio visual
  • 3.
    • What’s included:
    • Objectives
    • History & Key info about the group
    • Preferred dates and optional dates
    • Number and type of hotel rooms required each day
    • Number, size and usage of meeting rooms and times needed
  • 4.
    • Number and type of food & beverage events
    • Exhibits and special events or activities
    • ‘ Wish list’ or complimentary requirements
    • Proposal contact – who will review
    • Proposal due date
    • Decision making timeframe
    • www.conventionindustry.org/apex
    • Now let’s try one!
  • 5. Contracts
    • What are they?
    • A written, binding agreement between two or more parties for performing a service, act, sale etc.
  • 6. Understanding contract clauses & terminology
      • Rates & block
      • Minimum revenue
      • Cancellation
      • Deposits
      • Concessions
      • Relocation
      • Porterage
      • Attrition
  • 7.
      • Commissions
      • Exclusive suppliers
      • Option Deadlines
      • Uninterrupted use of Premises (change of brand)
      • Indemnification/Hold Harmless
      • Force Majeure
      • For Convention Centres and gov’t owned properties the contract can be called a ‘lease agreement’
  • 8. Remember
    • Read everything!
    • Changes initialed and dated in the right hand column
    • Double check dates and numbers
    • Person signing must have authority
    • Best to have original copies
  • 9. Contract Negotiation
    • #1 Objective
    • Create A Win / Win For Both Parties
    • Everything is negotiable
    • Bottom line
    • IT’S ALL ABOUT MINIMIZING RISK!
  • 10. TIPS
      • Know the value of your business
      • Time of year (peak vs. off-season)
      • Competition – alternatives?
      • Hotel chain loyalty - previous relationship/future business potential
      • Multi-event contracts
      • Unions
      • Other public guest rooms rates
      • Cancellation penalties waived if re-sold
      • Understand the supplier’s side & be willing to compromise
      • Ask! Be transparent
  • 11. Contracts & YOUR Wish events
    • With:
      • The venue
      • Entertainment
      • Caterer
      • Rentals
    • Letter of agreement
      • Names of both parties
      • Dates, times
      • Who will do what
      • What’s included
      • Everything in writing
  • 12. Summary
    • RFPs
    • An invitation for suppliers to submit a proposal for their services such as venues, audio visual, planning services
    • Samples on Blackboard
    • Contracts
    • Binding agreements with suppliers/planners.
    • Basic knowledge of clauses & negotiating tips
    • Samples on Blackboard
  • 13.