Every event is important, no matter what it is or what size it is, when you are organizing an event, there are countless things to think about. From music, to catering service and drinks, everything must be perfectly coordinated and everything must go well for the event to be a success.
This is a great way to ensure that everything is arranged properly.
Without a doubt, one of the most important events in everyone’s life is their wedding, and that is precisely one of the days when things should be perfect. The problem is that there is a lot to think about, a lot to organize and a lot to do and if you don’t have the help of someone who is an expert on the subject, it is very likely that some of these details will escape us, so perhaps it becomes vital to hire one company that knows not only every detail of the organization but also effectively manages the deposits that must be made to ensure that each element of the event is canceled and in order.
The essentials
It’s your big day, and you want everything to be perfect. However, it is time to get things out of your planning list, and some of the big things is to save the date with several vendors. Vendors such as caterers, bartenders, venue, event planner, etc. Saving the date is probably one of the most important steps to knock out of your list to do. In order to save the date with them, you will need to leave a down deposit.
This detail of the deposits can be a bit complicated, especially if you do not have all the information regarding what exactly is needed that day: Food, drink, flowers, music, among others and even worse if you do not know how to handle the issue of deposits.
How does a down deposit work?
First let’s define a down deposit. A down deposit a.k.a. โSave the dateโ deposit is a prepayment to the vendors or services you want for your event. The purpose of a prepayment is to specifically reserve services from them for your event duration. Moreover, that deposit will also go towards the expenses that need to be paid for your event.
How much do you put down to save the date?
The amount varies depending on the company you are requesting services from. Some vendors require a small percentage while others may require almost the whole payment. Whatever amount you put down will definitely affect, and/or determine on how much you will pay later for the remaining balance. However, there are a few things to consider before putting down a deposit.
We must take into account the facilities that companies and vendors provide to make all these deposits necessary to reserve those special dates. The truth is that there are many options, but you have to know how to identify which ones provide the most facilities and are more flexible.
ย 1.Deposit percentage
This is one of the most important topics that many people do not talk about. Yes indeed, how much they require is very important. It’s great when only a small percentage or required amount to save the date. However, there are companies that require a larger amount, or even more than half of the whole payment. Of course, paying a higher amount does leave you with a smaller balance to pay off later. However it also has its negative side.
When you put down a lot of money for a company, you will have that company at your event. Leading up to your event a lot can happen to the point where you may even have to cancel. You just never know. Given that, you have to keep in mind that usually a down deposit is nonrefundable. Therefore, if you end up cancelling, your deposit will stay with the company.
To avoid this dilemma, it is suggested to leave no more than 20% as a deposit. This way, if something were to happen, losing your deposit will not be too painful on your pocket. In the event that something were to happen, it is better to leave a reasonable deposit that is worth the vendors time, but will not hurt you too much.
Of course, all this will vary depending on the company and the way they work, although it can be said that there are certain standards of behavior when it comes to payments, deposits and how to proceed with them.
ย 2.Tax or service fees
Although it is important knowing the required amount of deposit, you also should watch out for hidden fees. Hidden fees such as tax and/or service fees. They is no mention of them making the deposit and are a surprise fee when paying the remaining balance. Review carefully and keep a look out for those extra fees that you can be avoiding with other companies.
There are companies that do not charge tax in their services. For example, companies that are non profit organizations. Finding a company that does not charge tax in their services can save you a chunk of money.
Service fees are one of those fees that are totally absurd to charge. Firstly, service fees are like โtip moneyโ for the services provided. The idea that companies are charging a service fee without even servicing yet is not right. The client should be able to give what they think is deserved for the service they received. Keep a lookout for service fees because the company may pull a fast one on you and charge a high percentage for something that should be optional.
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Contracted payment dates
After confirming with the company, they will proceed with a contract. On the contract, and/or invoice should have all the details of the service, and payment information. Remember you are in charge of completing the charges by the agreed date. It is kind when the company sends a friendly reminder; however that may not always be the case.
Questions and Answers
Events, especially those that are the most important, such as a wedding. From food, drink, to the music contracted, even taking into account. Which company will be hired to organize everything, the truth is that the details are so many that sometimes we can forget some. As is the case of the different deposits to various vendors and suppliers.
First of all, setting aside the day of the event is basic, many times to do that. You have to make deposits and it is right there when things get complicated because sometimes you do not have the necessary information to do it or we do not know how it works, how much percentage you have to give, how often you have to pay and all that relevant information. This is where it becomes relevant to receive help from a company or an event organizer, an expert on the subject.
The payment dates, how many contracts you have to pay. Who you have to pay and other details are of the utmost importance when you are organizing an event.ย Be it a wedding or any other type. All these details are as important as knowing how to choose the best food, the best bartenders and spirits and cocktails or music.
If you want to hold an event, let’s say your wedding, the first thing to do is choose a date. When you choose the date, you have to think about another important detail. What to do, who to hire, to ask, among other things. One of the most relevant are the deposits to make. When, how and to whom to make them, which is essential in any event
To Conclude
Saving the date is probably the most important step in planning for your big day.
We hope this information will help you in choosing the right vendors for your event.
Do not hesitate to contact us with any questions in regards to this topic.
We are a company with many years of experience. To us the client is our #1 importance. Therefore, from the start of saving the date we like to make it as simple, and flexible as possible for them to save the date with us. We charge a low minimum as a down deposit because we know the stress of event planning.
Click here to check out our services and learn more about what we offer.
Read more about how to avoid cancelations for your event here, or check out our YouTube channel for cocktail video tutorials.
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