When both parties accept an offer, they execute or sign the agreement confirming that they understand and agree to comply with the term and conditions of the agreement.

8. ________ do detailed research using the media and the local library

7_________. approach somebody who has not sponsored an event before

_______ Agreements usually detail the type and limits of insurance that must be in force by both parties, as well as a requirement that each party co-insure the other.

______ is a proposal to host an event. It is the most critical marketing tool in obtaining business.

______- an agreement in which one party, usually the event manager, agrees to give consulting services to another party.

_______ – for example, removal of dangerous children’s equipment

3. _________alternative plans should be ready to be put into place.

________an agreement between the hotel and the organization holding an event to furnish rooms, function space, and food and beverage services for a particular event or several events.

_______ some event managers include a specific clause that recognizes the importance of the purchaser’s reputation and states that the event manager will exert his or her best efforts to protect the purchaser’s reputation during the event.

The names of the parties must be clearly identified. 1.

is a mutually beneficial business arrangement between the sponsor and sponsored in order to achieve the agreed objectives.

________ adapt the event to suit the sponsor’s idea, desires, and requirements

_______ – for example, using fences to prevent access to busy roads

it is the service or product given by one party to another. 3.

1. __________ a new idea might convince a person to be a potential sponsor

________ an agreement between the seller and the event manager to supply particular services or products for an event.

Sources of Funding

_______ – for example, using warning signs, trained staff, and well-developed procedures

________ – each circumstance should be assessed for possible risks. These risks should be determined and avoided.

______ – specify the type of market – if the participants are rich, middle-aged, or young people

Other Agreements

it usually defines under what circumstances either party may cancel, how notification must be provided and what penalties may be required in the event of cancellation.

_______ the support of the media is needed to attract sponsors

_______ is very difficult to find and requires a lot of effort to service it.

Some Tips on Looking for Sponsorship

______ – for example, isolating dangerous or noisy equipment

it is a common practice to include in event management agreements an ____ clause in place of a legal judgment when both parties fail to agree.

______ both parties agree on which circumstances deemed to be beyond their control, will allow an event to be canceled without penalty to either party.

Risk Control Measures:

________ – be sure that the product and price are correct, and the quality of the event is widely known

________review and check whether the risk is the responsibility of someone else (ex. A delegate slipping on a wet floor in the restroom). Suppliers in events are required to share in the liability for the event.

Other Components of an Event Management Agreement or Contract

_______ sponsors must be compatible with the event and the participants

_______-Agreements should contain clauses indicating that the contract may not be assigned to other parties.

4. _______- obtaining various resources of revenue for an event including many sponsors can reduce the risk of failure to generate the needed revenue.

_______ - an agreement in which an employee agrees not to engage in a contract in a particular industry for a certain period of time after the conclusion of employment.

In addition, MICE organizers can produce income from various activities such as:

it instructs both parties that the agreement is valid only if it is signed within a prescribed period of time. This clause is usually inserted to protect the person making the offer from loss of income due to late execution by the buyer.

Basic Components of an Event Management Agreement or Contract

________ an agreement in which an employee agrees to particular terms of employment.

________ – for example, replacing slippery tiles in the restroom with Non-slippery tiles

______ – an agreement between a sponsor and an event organizer in which the event organizer agrees to give marketing services to the sponsor for specific payment.

________ Find out what active companies are already Sponsoring

Risk Management Procedure

______ because many events involve entertainers, the agreement must define how entertainers will be listed in advertising and in the program.

_______ – an order to a seller to supply products or services.

_______ it defines how and when the funds will be paid to the person making the offer.

_______ – for example, evacuation as contingency plan in case the risk cannot be completely avoided

it shows the agreement between two or more parties regarding their mutual interests as specified in the agreement.

_________ – In the event of negligence by either party, the negligent party agrees to hold the other party harmless and to defend (indemnify) them. Against harm.

clause defines what one party will provide the other upon the acceptance of an offer. 4.

it is the final clause which states that the agreement constitutes the full understanding of both parties.

The Bidding Process

_________an agreement between the exhibitors and the sponsor of an exhibit to rent a booth at the exhibit.