Question

One area that is critical to an event facility-rental agreement for the use of a facility, and that can be easily overlooked when negotiating such agreements, is specification of when the event staff will receive which of the following?

a. Access to the facility
b. Payment for shared commissions
c. Written confirmation of booking dates
d. Promotional signage for display during the event

Answer 1

The event staff will receive b. Payment for shared commissions.

Explanation:

Commission is form of payment generally charged by the brokers for their service in selling or buying the product.

Event facility-rental agreement is an agreement made between the owner of the facility and the party who wants to use that facility. This rental agreement contains information like rent details, terms and conditions and rental period. The agreement can be easily overlooked, when negotiating such agreements. The event staff will receive payment for the shared commission.

Answer 2

One area that is critical to an event facility-rental agreement for the use of a facility, and that can be easily overlooked when negotiating such agreements, is specification of when the event staff will receive payment for shared commissions.

Option: B

Step-by-step explanation:

The rental arrangement for the facility is for the use of space by a third party, defined as the 'leasee' or 'tenant,' for the use of a party venue including a wedding, graduation etc. The lessor should specify the room, and the incident must be defined together with the payment plan and any non-refundable charges and/or security deposits when leased. Once the incident is over, the proprietor will take a final equilibrium decision which is due. As long as there are no losses or other contractual issues, this final equilibrium will be merely the total cost of rent less any initial deposit produced.