Agenda for today Project Plans Contracts
Stuff coming up for 222/extra credit January 30 – setting up for VIP meeting, Radisson hotel, 4:30-6:30 (if you have class at 6:00 we can move up) February 14 - Booth Setup, my office/Ramada, it will take a couple hours (flexible from 10am-3:00pm) February 14 – Booth Strike, 3:00pm, my office/Ramada I have five student scholarships (no charge to you) to offer to a Meeting Planners How-to – take a look at it. Caveat’s – you have to be there all day. Contact me if you are interested.
Sweetheart Ball – Saturday, February 11 – waiting for more info ll.html ll.html Business After Hours (I will sponsor one tag along – must be 21) “You are needed” – Celtic Festival, Pancake Karnival
The Top 10 Things I Learned the Hard Way… to Put in My Contracts
Things I am NOT~ Lawyer or paralegal Advocate of one-sided agreements OR interested in adversarial relationships
What is a contract? Agreement between two or more competent parties Offer is made and accepted Each party benefits Bind each party to promise – and action to take if promise not met Like insurance – for both good and BAD!
Three Tips
Contract Tip #1 Start at the beginning Info about group/meeting needs Specifications Concessions Contract requirements of organization Stuff the lawyers want Deal-breakers
Contract Tip #2 John’s Golden Rule of Agreements If you ask for something from the other side before the contract is signed it's called ”Negotiating“ If you ask the other side for something after the contract is signed it's called ”Begging” John Foster, Esq., CHME Meetings Industry Attorney
Contract Tip #3 What is the value of this contract to EACH? Understand the business of EACH Planner: Why are we having this meeting happening? What is at risk? What is expected return? Supplier: What drives the business?
10 Things…
”We aren’t holding the room for you then.” # 10Specific location names with specific times DateTimeRoom NameDescription April 14, :00pm – 5:00pm Super Duper Ballroom Set-up April 15, 20125:00pm – 9:00pm Super Duper Ballroom Performance April 15, 20129:00pm – 11:59pm Super Duper Ballroom Strike/Load out
”I called and the hotel says the block is gone.” # 9 Sleeping Rooms reservation method listing in hotel’s computer for “Group Name” type of rooms – suites, doubles, kings when rates apply/don’t apply/cut-off always ask about honoring rates outside the dates! use specific dates and times – August 31, 2010 at 5:00pm ET vs. 30 days prior to meeting
“Oracle is also in house – heard of them?” # 8Areas of “sensitivity” noise construction competitors VIP needs data privacy food donations accessibility issues
“You may load in yourself, but the freight elevator is union.” # 7 Additional charges/fees/taxes newspapers/safe/resort fees/pool/spa set-up fees taxes gratuities overtime staffing
“When I opened the mail today, I discovered we have an accruing finance charge on a $100,000 bill.” # 6Billing timing What happens if payment doesn’t happen?
“You can do that, but it is not in your contract.” # 5Spec change vs. contract change
“Congratulations – consider yourself acquired.” # 4What happens if…we CANCEL covers both sliding scales based on timing damages clearly spelled out
“Did someone say flood, flu or some other sign of the apocalypse.” # 3What happens if…we CAN’T Force Majeure (improbable/inadvisable) re-booking/re-sale options CAUTION! There is a war going on!
“You don’t have an attrition clause in your contract.” # 2What happens if…there is ATTRITION show the “math” ($$ spelled out) sleeping rooms (cumulative) meeting space food & beverage minimums
“Who would have thought this could happen?” # 1We are not fortune-tellers, or are we?
In Summary… 1) Start at the beginning details, details, details special requirements of your organization 2) John Foster’s Golden Rule prior to contract = Negotiating after contract = Begging 3) Know THE business
Dralion Case Study
Next week Project Objectives + Goals Due Lecture TBD