Nothing is more sensitive than legalities and paperwork. While selecting a venue to host your next event, you might want to take the responsibility to secure a venue on your own. However, consulting with an event production company would be wise before signing a venue contract. There are delicate factors and clauses in the agreement that you might not understand that can put you in a bind.
Not only that but there is so much to understand beyond the contract agreement you will sign. One needs to consider vital information like venue policies and guidelines. Hiring a seasoned event production company that knows how to deal with venue contract negotiations can and will benefit you tremendously.
This article will enlighten you on why you should involve an experienced event production company before signing any venue contract for your big event.
1. Due Date of Specific Details and Payments
Each venue will abide by its unique operating procedures when getting booked for an event. For example, a venue may require you to make payments a month before the event, and another might need you to make payments four business days before the event. Event venues also provide deadlines for specific details like the number of guests, menu selections for your guests, show flow details, and other more intricate details.
An experienced event production company can assist with looking for grey areas in the agreement. These detrimental payment stipulations can hinder your event and budget, drive home a winning deal and facilitate manageable deadlines with venue managers.
2. Venue Policies and Guidelines
Aside from signing the contract agreement, you must carefully understand important information like venue policies and agreements. Every venue has policies and guidelines that are different from every other venue. Some of these policies might include;
• Guest Policy
Every event plan indicates the number of guests you expect to attend. However, a venue might have a guest reduction policy in their contract agreement, which you might overlook due to how overwhelming and lengthy the process and contracts might be. The policy might need you to do a final guest count to fit that into the agreement, which could attract a penalty. Consulting an event production company is necessary to help you make an educated decision in such a scenario.
• Vendor Exclusivity Policy.
This policy helps you understand if you need to use the in-house vendors in the venue or whether you are permitted to bring in a vendor that is not on the venue's vendors list. You need to understand these two situations well since choosing any of these options will affect your budget. You can best consult an experienced event organizing team to oversee these policies, as they can significantly affect your budget.
3. The budget of the venue
Signing a contract before analyzing the fees without a professional event production team might cause a considerable shift in your event budget. Amenities like parking, wifi, security, power, and other auxiliary fees might add to your budget when choosing a venue. When working with a seasoned event production company like Vision Matrix, we advise you on which venue to host your event will be most beneficial.
Conclusion
A venue contract is a legal document binding you to all the policies and guidelines of the specified venue. It might be easy to overlook or not understand some clauses in the contract, probably because you are already too overwhelmed with other more intricate and delicate tasks for the event. Turning to an experienced events production company for some help is advisable. By hiring a professional event production company like Vision Matrix, which has seen thousands of venue contracts, you can rest assured that they will not only be advocating so that your vision comes to light.