Saturday, October 24, 2009

Sonsorship/Vendor Agreements

When planning any event, it is good to get things down on paper.  This helps avoid problems later for both you and your vendors.  There are many different types of contracts/agreements out there and it can sometimes be confusing. Keep the following things in mind when reviewing contracts/agreements:

Don't ever sign anything without reading it in it's entirety.  No contract/agreement is ever perfect on the first draft. There will always be something that you need to strike through and change. 

             a. Initial Changes
When making said changes, as always happens with contracts/agreements, be sure to initial by each change that you've made. Be sure to send back to your vendor and have them initial each portion as well. This will serve as a confirmation that both parties are aware of the changes made and have agreed to the new terms.

2. Check Dates & Times
This may seem like an obvious step when reviewing a contract/agreement, but be sure to double and triple check all dates and times outlined.  Be sure the contract/agreement states at what time your vendor will arrive and how long they will stay at your event. This section should be very detailed and outline exactly what you're expecting.

3. Deposit
Be sure to check over the payment plan.  You may discuss one payment schedule over they phone, but another may be defaulted in your vendor's contracts/agreements. Be sure that all terms discussed prior to the drafting and signing of the agreement are in fact outlined on paper. The last thing you want is a fee for not paying on time!

4. Clean Up
Who will be in charge of clean up? If you're working with a caterer, who will be in charge of disposing the refuse? Will there be a separate container and drop-off for recyclables? Will they also provide the cans and bags for collecting the waste, or is that up to you?

5. Set Up
Be sure that all materials needed by all vendors will be provided by the actual vendor. Most photographers have their own equipment right? Well cameras and film, yes, but what about tables, chairs, table cloths, etc? Be sure to list all materials that you expect a vendor to provide in the agreement.  If you are supplying certain items, put that in the agreement as well.

The main thing to remember when signing any contract/agreement is the DETAIL!!  Every word needs to be read and understood to ensure you get what you pay for and what you expect. The last thing you want is to show up on the day of your event and be surprised - trust us!

WGIC also provides al la carte services, with contract/agreement negotiations and review being one of our specialties. Give us a call at 312-285-4544 if you're unsure about something in your vendor agreement and we'll be happy to assist!

No comments:

Post a Comment