As a corporate event planner, one of the most critical steps in event planning is securing the perfect venue. However, booking a venue is just the beginning. The venue contract you sign can make or break your event. It's not just about location, ambiance, and catering there are legalities and logistical details that can have significant financial or operational implications. Here are key things to look out for when reviewing a venue contract to ensure your event runs smoothly and within budget.

1. Pricing and Payment Terms

The pricing structure of the venue contract is often where most of the confusion or issues arise. Ensure that all costs are clearly outlined, including the rental fee, any additional service charges, taxes, and gratuities. Be on the lookout for the following:

Deposit and Payment Schedule: Does the contract clearly define when deposits are due and when the final payment is expected?
Cancellation Policy: What happens if the event is canceled, postponed, or rescheduled? Are there any penalties, and how much of the deposit is refundable?
Additional Fees: Sometimes, venues charge extra for basic services such as audiovisual equipment, cleaning, or valet parking. Make sure you know exactly what’s included and what’s not.

2. Cancellation and Force Majeure Clauses

One of the most important sections of any venue contract is the cancellation policy. Events can be affected by a wide range of circumstances outside your control, like natural disasters, health crises, or other unforeseen events. Ensure the contract includes a clear force majeure clause that outlines:

What constitutes a force majeure event: Ensure the clause includes natural disasters, pandemics, strikes, or any other event that could affect your ability to host the event.
How cancellation will be handled: Will you be refunded, or will the deposit be credited for a future event? What percentage of the total fee is refundable?

Make sure these terms are fair and offer protection for your event, especially in uncertain times.

3. Venue Layout and Capacity

A corporate event’s success hinges on the flow and layout of the venue. It’s essential to check if the contract specifies the maximum capacity of the venue and includes provisions about:

Room Layout Flexibility: Can you alter the room setup to suit your needs? Are there any restrictions on where furniture can be placed?
Breakout Spaces: If you need breakout rooms for sessions or workshops, ensure they’re included in the contract or available at an additional cost.
Accessibility: Make sure the venue can accommodate guests with disabilities, and that any necessary accommodations (such as ramps, elevators, or accessible restrooms) are included in the agreement.

4. Event Timing and Restrictions

Timing is everything in event planning, and your contract should reflect this. Double-check that the start and end times are clearly stated in the contract. Additionally, look for clauses that specify:

Set-Up and Tear-Down: Does the venue provide adequate time for setting up before the event and tearing down afterward? Is there an additional fee for extra hours?
Noise Restrictions: Some venues impose sound restrictions based on local laws or neighborhood noise ordinances. Check if there are curfews or noise limitations, especially if you're planning an evening event with music or speeches.

5. Insurance and Liability

Corporate events often involve high stakes, and the venue contract should outline insurance requirements. You’ll want to verify:

Liability Insurance: The venue may require you to carry liability insurance to cover damages or accidents. Make sure the contract specifies how much coverage is needed and whether it’s provided by the venue or needs to be purchased separately.
Damage Waiver: Does the venue charge you for any damages to the property? Ensure there is a clear distinction between normal wear and tear and any charges for damages caused by the event or attendees.

6. Food and Beverage

For corporate events, catering is often a significant component. It’s important to review the food and beverage section of the contract thoroughly, including:

Menu Options: Are you able to customize the menu, or is it strictly set by the venue? Be sure to review the available menu options and any dietary restrictions the venue can accommodate.
Corkage Fees: If you plan on bringing your own alcohol, check whether there is a corkage fee and how much it will cost. Some venues also charge a fee for bringing in outside food, so make sure you understand all the stipulations.
Beverage Service: Is there a minimum spend on beverages, and how is this tracked? Does the venue charge for water, or is it included?

7. Audio/Visual Equipment and Technology

In today’s corporate events, technology is essential. The venue contract should clearly outline:

AV Equipment: What audiovisual equipment is provided? Are there extra charges for things like microphones, projectors, screens, or speakers?
Wi-Fi Access: Is Wi-Fi included, and if so, is it sufficient for all your event needs (e.g., streaming, video calls)? Some venues charge extra for high-speed Wi-Fi.
Technical Support: Is there on-site technical support for any issues that may arise during the event?

8. Vendor Policies

You may want to bring in your own vendors, such as event planners, decorators, or entertainment. Ensure the venue contract has clear policies about outside vendors:

Vendor Approval: Does the venue require pre-approval for third-party vendors? Some venues only allow approved or in-house vendors, which can limit your options.
Vendor Fees: Are there any additional fees for using outside vendors? Some venues charge a "vendor fee" to compensate for administrative overhead or to ensure vendor compliance with venue standards.

9. Parking and Transportation

Parking is often an overlooked detail but can be a make-or-break aspect of your event’s success. Ensure the venue contract addresses:

Parking Availability: Does the venue provide free or paid parking for guests? Is there sufficient parking to accommodate your guest list?
Valet Service: If valet service is provided, is there an extra charge? How much does it cost per car?
Public Transportation Access: If the venue is in an urban area, is there easy access to public transportation? This can be helpful if you’re hosting guests who do not drive.

10. Post-Event Services

After the event is over, there are often additional details to settle. Check the contract for any post-event services, including:

Post-Event Clean-Up: Does the venue handle clean up after the event, or is it your responsibility? Some venues include clean up fees, while others expect you to arrange and pay for it separately.
Damage Inspection: Will the venue conduct a post event inspection to ensure no damage occurred, and if so, how soon after the event will it happen?

All in all, taking the time to really go through your venue contract can make a huge difference in how smoothly your corporate event runs. By double checking details like payment terms and insurance requirements, you can steer clear of last minute surprises and extra costs. In the end, a solid contract isn’t just paperwork, it’s your roadmap to a stress free, successful event.

Need a hand finding the right venue and navigating the fine print? Bailey Reed Events offers expert venue sourcing tailored to your event needs—so you can focus on the big picture while we handle the details. Complete our inquiry form to get started.

Things to Look Out for in a Venue Contract: A Corporate Event Planner’s Guide