Are Your Meeting Contracts Really Protecting You?

There was a time when contracts were written haphazardly, and deals were secured with a handshake. Those days are over. Today, the industry relies heavily on detailed written terms.

The Stand-Up July 23, 2024 by Miguel Neves View in browser Hi there,   Meeting contracts are crucial for protecting your meetings and your organization. But are your contracts really safeguarding you? Many event professionals still struggle with outdated or incomplete contracts.   Jill Blood, VP, deputy general counsel and privacy officer at Maritz, says 80% of contract details can be standardized. But, specific clauses around deposits, payments, and deliverables are essential.   Contracts must also evolve with the times. Staffing shortages, force majeure, and emerging issues like DEI and sustainability now require careful contract language. Flexibility is key for long-term deals.   Negotiating a fair contract takes skill. Teneo Hospitality Group's Gary Murakami advises focusing on the relationship, understanding the facts, and maintaining flexibility.   Read the full story on Skift Meetings Planned Secures $35 Million in Funding, Hopper's CEO Joins Board Planned has secured a significant round of financing and added a travel industry heavyweight onto its board. Up next is expanding AI functionality and travel booking capabilities. Hubilo's Founder Hands Off CEO Title Vaibhav Jain's run at the helm of the company he co-founded in 2014 has ended. Former engineer and product manager Shailesh Hegde takes over. Are Your Meeting Contracts Really Protecting You? There was a time when contracts were written haphazardly, and deals were secured with a handshake. Those days are over. Today, the industry relies heavily on detailed written terms. Skift Meetings Forum We're gathering the meetings industry's brightest minds for our flagship event. Don't miss our one-day exclusive learning experience on September 17 in New York City.   Tickets are $695; complimentary VIP tickets are available for invited senior planners. Groupize Acquires The Vendry, Adding Supplier Marketplace to Meetings Management Offering The combined platform promises to be a new type of all-in-one offering combining meeting and travel management with venue and vendor sourcing. Four Ways to Take Meetings From Exhausting to Invigorating Explore simple ways to keep meeting attendees invigorated, engaged and on task that prioritize their physical and mental health. Stand Against Boycotts: Events Embrace Inclusion Amid Political Division What happens when a destination is committed to embracing DEI, but political leaders stand in the way? NEW REPORT Networking by Design: Crafting Events for Meaningful Connection Sponsored by Cvent Elevate your event design skills and create unforgettable networking experiences that leave a lasting impact. Featuring insights from industry experts, this report reveals how thoughtful and intentional networking strategies can enhance engagement and cultivate deep professional relationships. DOWNLOAD 45+ Must-Ask Questions for a Successful Event Debrief Every event tells a story, from audience experiences to behind-the-scenes efforts. For a successful event debrief, examining both sides uncovers insights that can help shape future events and maximize the impact. 60+ Tactics to Drive More Attendees to Exhibition Booths Discover creative booth activation ideas, effective marketing strategies, and proven techniques to attract and engage attendees effortlessly. Boost your next event's success and turn visitors into valuable leads. 17 Interactive Entertainment Ideas For Large Crowds Today, with everyone constantly chasing their next Instagram-worthy moment, interactive entertainment is a must. It transforms good events into unforgettable experiences, forging connections and creating lasting memories. CALENDAR   IBTM Americas, RX Global's Americas-focused trade show, takes place in Mexico in mid-August. The 15th edition of the show, previously called ICOMEX, brings together buyers and suppliers in 1:1 meetings. It also features five conference programs covering event design, pharma, romance, sport and sustainability. August 10-13: ASAE Annual in Cleveland, OH August 13-15: SISO Summer Conference in Philadelphia, PA August 21-22 IBTM Americas in Mexico City, Mexico Explore our full calendar here. More From Skift Meetings All You Need to Know About Skift Meetings Forum The Biggest Stressors – and Must-Haves – for Senior Incentive Planners Why Australia Is Attracting Global Appeal Among Meeting Planners Created in partnership with Business Events Australia To ensure there are no pauses in our communication, please add our email address to your contacts: meetings@skift.com. Skift, 35 W 31st St., Frnt 1, New York, NY 10001, USA, (516) 399-0304 Manage preferences