Sunday, August 14, 2005

It's just party entertainment. So, why a Contract?

A client, new to the task of planning an event, called me to ask why I required a deposit and a contract to perform for his small at-home event.

The answer? Contracts and deposits not only protect your vendor, but they protect you, too.

The practice of asking for a signed contract secured by a deposit ties both of you to your date.

Vendors like the practice so they are not left holding the bag so that if you back out, he doesn't have a sudden hole in his schedule when he would be otherwise booked. After all, once you give a firm order, the vendor turns away other clients.

By the same token, with a secured contract in place, the vendor is bound to honor your date even if a more attractive opportunity comes in.

A added benefit is that a well drafted contract spells out the terms to which you've both agreed. So you have a written record for ready reference to answer questions and clear possible confusion.

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