What Part of an Event Contract Should Be Negotiated in Order

question 2

Multiple Choice

What part of an event contract should be negotiated in order to manage cashflow issues?

• A) Cancellation clauses
• B) Payment terms
• C) Full details of costs and spends at the event venue
• D) Attrition clause
• E) Provision of personnel and security

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Definitions:

Invalid Verbal Contract

An oral agreement that lacks enforceability by law, often due to the absence of required elements for a valid contract or due to specific types of agreements that require written form.

Assurance

A formal declaration intended to give confidence or guarantee of certain outcomes or conditions.

Promise

An assurance that one will or will not do something in the future.

Unilateral Contract

A unilateral contract is a type of agreement in which an offer can only be accepted through performance, meaning one party promises to do something in return for the act of the other party.