How do you negotiate the contract and cancellation terms with the venue?

1 Understand your needs

Before you contact any venue, you need to have a clear idea of your event's goals, budget, size, date, and format. This will help you narrow down your options and communicate your expectations to the venue. You should also have a site inspection checklist for events that covers all the aspects you want to evaluate, such as location, accessibility, facilities, services, security, and sustainability.

2 Compare and contrast

Once you have a shortlist of potential venues, you should compare and contrast their offers and features. Don't just look at the price, but also the value and quality of what they provide. Ask for a detailed breakdown of the fees, taxes, gratuities, and any other charges that may apply. You should also check the availability and flexibility of the dates, the capacity and layout of the spaces, the amenities and equipment included, and the policies and procedures for booking, payment, and cancellation.

3 Negotiate the terms

After you have done your research and site inspections, it is time to negotiate the terms of the contract and cancellation with the venue. Respect, professionalism, and assertiveness are key. You should be aware of your priorities and limits, and be willing to compromise if needed. Additionally, request clarifications, confirmations, and revisions in writing. When it comes to negotiation points, you may be able to lower the deposit amount, extend payment deadlines, or get a discount for paying in advance or in full. Furthermore, you could reduce the minimum number of attendees or rooms required, increase the percentage of allowable attrition or cancellation without penalty, or negotiate a sliding scale of fees based on the notice period. Lastly, you may also be able to get some extra perks or benefits from the venue such as free or discounted parking, Wi-Fi, catering, audiovisual equipment, or upgrades.

4 Review the contract

Before you sign the contract and cancellation terms with the venue, you should review it carefully and make sure it reflects everything you agreed on. You should also look for any hidden or ambiguous clauses that may cause problems later. If you have any doubts or questions, you should consult a lawyer or an expert. You should also keep a copy of the contract and any related documents for your records.

5 Communicate and confirm

After you sign the contract and cancellation terms with the venue, you should communicate and confirm with them regularly. You should update them on any changes or developments in your event plans, and verify that they are on track with their obligations and deliverables. You should also ask for invoices and receipts for any payments you make, and confirm the final numbers and details before the event.

Negotiating the contract and cancellation terms with the venue is not a one-time task, but an ongoing process that requires attention and skill. By following these tips, you can ensure that you get the best value and avoid any surprises or disputes for your event.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?