3 Key Points to Include in a Vendor Agreement
Whether you are in charge of your county fair, setting up a farmer’s market or holding a conference, you are likely to attract vendors who are eager to sell their products or promote their services at your location.
Permitting vendors to ’set up shop’ on your property or event can be lucrative, but you want to make sure that you have a vendor agreement in place before you get started.
A vendor agreement is a contract between the organizer and a vendor that permits the vendor to sell products or promote their services in exchange for compensation. While it seems pretty straightforward, there are some points to consider when drafting the contract.
Restricting Prohibited Products
As an organizer, you and your organization hold specific values that others may not. For example, if you are holding an event geared towards children, you probably don’t want violent product or services being offered. To avoid unforeseen products from popping up at your event, you should have the vendor list the exact products or services that they intend to sell or promote. You should include a clause that limited the product and services offering to those listed in the contract.
Include Set Up and Takedown Procedures
When planning for an event, the organizer often focuses primarily on the substance of the event and neglects the setup and takedown procedures. Be sure to include when, where and how the vendor may set up the stand. You should also add a time that the vendor must vacate the space. This will help everything to run smoothly.
Include the Fee in the Vendor Agreement
As the organizer, you or your organization are entitled to compensation for allowing a vendor to promote products or services at your event. The vendor agreement should specify how much the vendor will pay when the vendor is expected to pay and the payment method. The fee may be a flat rate, a percentage of sales, or a combination of the two.
When drafting your vendor agreement, be sure to include these three points. You may also wish to include details such as the size of the event, the minimum or maximum square footage that will be allotted, and any other pertinent information. Using this fillable template, you can quickly draft your vendor agreement.