In the event industry, a solid contract is essential, especially for situations when things go wrong, such as unpaid balances after an event. Jill Blood, VP at Maritz, emphasizes that contracts should account for worst-case scenarios and outline key details like deposit terms, deliverables, and work expectations. Although 80% of a contract can be standard, specifics on payment and services should be included to avoid disputes later.
Contracts must also evolve to address current challenges. For example, staffing issues should be clearly defined, and contracts might include provisions for minimum staffing levels or service standards, especially for high-profile events. Recent contract trends include provisions for Diversity, Equity & Inclusion (DEI), sustainability, and AI, reflecting ongoing industry changes.
Blood also highlights the importance of flexible contracts, particularly for long-term planning. Notably, recent court rulings on force majeure clauses allow contracts to be terminated based on the impossibility of performance, which can apply even if an event is not directly affected (e.g., due to a predicted hurricane).
Gary Murakami, VP at Teneo Hospitality Group, shares tips for successful contract negotiation: understanding the relationship, focusing on facts (what’s negotiable vs. non-negotiable), and maintaining flexibility through open communication to ensure mutual benefit for both parties.
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