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W7 contracts & rf ps[1]
 

W7 contracts & rf ps[1]

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

    • RFPs & Contracts
      • RFPs
        • What are they
        • When would you use one
        • Samples
      • Contracts
        • What are they
        • Sample
        • Contracts & your Wish Events
        • Negotiation…
    • 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
      • 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
      • 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!
    • Contracts
      • What are they?
      • A written, binding agreement between two or more parties for performing a service, act, sale etc.
    • Understanding contract clauses & terminology
        • Rates & block
        • Minimum revenue
        • Cancellation
        • Deposits
        • Concessions
        • Relocation
        • Porterage
        • Attrition
        • 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’
    • 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
    • Contract Negotiation
      • #1 Objective
      • Create A Win / Win For Both Parties
      • Everything is negotiable
      • Bottom line
      • IT’S ALL ABOUT MINIMIZING RISK!
    • 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
    • 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
    • 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
    •