Posted by Carl on October 23, 19100 at 02:04:46 :
In Reply to: Re: deposit posted by Sam Sears, CEC on October 22, 19100 at 22:06:36 :
: : we are scheduling caterings 6 mos in advance. We require 1/2 down and 1/2 on the day of the event. However when scheduling an catering job 4 or 6 month in advance some companies have yet to budget for the catering. How would you handle? Should we charge say $100 to hold the date for that far in advance? Worried about setting those dates aside and then company cancelling later. Should we make the $100 deposit none refundable.
: : Help.
: In our firm, we require a non-refundable deposit, 25% of estimated billing, with signed contract to confirm date & time, final guarantee of guests attending 4 working days out, if over $15,000, due on day of event, if not will invoice on a NET 14 basis, with approved credit.......hope this helps......PS go over to Catersource Forums and see a thread about not requiring deposits and the diaster this can cause, 99% of clients, social, corporate & others, fully expect to put down $$$..........sam sears, cec
Let me tell you what I do....
500.00 non refundable deposit to secure a date (within 6 months) More than 6 months, I ask for 200.00 to reserve the date.. Is it refundable? Of course not, if it were then why am I getting a deposit? That is the whole purpose, COMMITTMENT!
If they are renting my event facility, the full rental fee is due 120 days out, this is only refundable if we are able to rebook the facility... but the initial 500.00 is non refundable regardless.... this keeps people from changing their minds and commits us from dropping a client for a better party, (i tell them this!)
The full balance is due 3 days in advance of the event....If they somehow miss this payment, then they must bring in CASH or Cashier's Check or money order... This is mainly for social, weddings, and especially family reunions.... No money, no catering!!! and the deposit is forfeited!!! My contract makes this clear!
Some say.."I don't pay BEFORE I buy something" I usually respond with, "does the grocery store let you cook and eat the food before paying for it?" If they argue this with me, then I simply ask them to use another caterer... I don't have time to fool with them...
This all comes from a history of problems with deviating from this policy!
The only exception is my corporate regulars with established credit....
It's nice to be in high demand! ;)
Carl