DEPOSIT SCHEDULE
NEC may at its sole discretion, require your organisation to provide deposit for the facilities and/or banquet (food and beverage) bookings taken. This is regardless of whether the organisation has a Master account with NEC:
|
Deposit required upon signing of agreement |
25% of total package |
|
2 months or less before the actual event |
50% of total package |
|
1 month or less before the actual event |
100% of total package |
* All event-related charges (less the deposit amount) will be billed to the Master Account or other means at the end of the event. Billing privileges are subject to approval by the Centre's Manager.
CANCELLATION POLICY
After the agreement is signed, should your organisation decides to cancel the event with the Centre for reasons other than those indicated in the FORCE MAJEURE, it will need to pay for liquidated charges.
Normally for cancellation of stand-alone conference facilities (with or without food & beverage), any deposit paid will be retained. If the function is cancelled more than 6 months in advance, the deposit retained may be applied for use towards another function within 2 months of the cancellation date. Cancellation must be advised in writing by the client.
The liquidated damages are outlined as shown:
|
Notification of cancellation prior to scheduled function date |
Liquidated damages, as expressed as a percentage of facilities and/or food & beverage costs |
|
Upon confirmation |
Deposit forfeited |
|
7 working days before the function after confirmation |
100% of total food & beverage revenue |
|
1 working day before the function after confirmation |
100% of total facilities, food & beverage revenue |
|
Any time during the function period |
100% of total facilities, food & beverage revenue |
FORCE MAJEURE
The Centre agrees that it shall ensure continuity of service throughout the term of this letter except where such continuity is prevented by virtue of fire, flood, strike, pickets, lockouts, pestilence, endemic illness, storm, tempest or sale of hotel. In such circumstance, the Centre shall, as soon as possible advises the Client of the nature and extent of discontinuity.