Meeting News - November 19, 2007 - (Page 58)

Navigate international contracts with confidence ontract negotiations can be tedious under the best of circumstances. But when negotiating with international hotels, convention centers, and other venues abroad, the process can take on a whole new set of unfamiliar challenges. Depending on the host country, much of the basics involved with contract preparation have anywhere from slight variations to dramatic differences. C Join me… Successful Meetings University Marketplaces that Educate & Connect Planner Emily Lewis Successful Meetings University – International DATE: March 3-5 CITY: New York, NY PROPERTY: New York Marriott Financial Center Hotel If you’re charged with planning an international event, it’s all too easy to get caught off guard when contract negotiations roll around. To avoid a potentially costly debacle, our Successful Meetings University series’ legal expert, John Foster, an attorney with firm Foster, Jensen & Gulley LLC, offers Host Update: New York Marriott Financial Center Hotel Situated in the heart of New York City’s legendary Financial District, the 497-room hotel will host the Successful Meetings University – International program Mar. 3-5, 2008. The event will convene amid the hotel’s 12,000 square feet of state-of-theart meeting space. Guest rooms feature Revive, the new bed from Marriott, marble bathrooms, and views of the Statue of Liberty and New York City Harbor from some rooms. Nearby are the city’s top attractions, including Ellis Island, South Street Seaport, and Battery Park. superb tips for contracting abroad. Foster’s educational session,“Navigating International Contracts: Legal Tips and Strategies for Dealing with Contracts, Customs, Currency, and Coverage,” will take place at the Successful Meetings University – International event in New York City this March, and will offer more detailed insight. G Discern what your foreign counterparts’ objectives are at the outset, as you would with someone in the United States. However, many foreign negotiators want to focus on a single objective first, like rate, so be prepared to settle just one issue at a time. G Divulging personal information to your negotiators can be key to establishing trust with many cultures. G In certain locations, individual decisions are frowned upon. Be sure to ask up front who is making the decisions; it is frequently not one person, but rather a group of individuals. G As a general rule, foreign contracts are not as lengthy as those in the United States and leave a lot of room for interpretation. Stick closely to your objectives, particularly when it comes to liability issues. G Brush up on your negotiating techniques; bargaining and negotiating are everyday occurrences in many foreign cultures. G Negotiate in the currency where the host property is located to avoid hidden costs. An easy way to do this is to deposit money in a local bank account, removing risk of of negative currency fluctuation. G In many international locations, contracts are considered a mere formality, and foreign negotiators will continue bringing up new demands even after the contract is signed. Always keep the process balanced and be prepared to make concessions. H —Emily Lewis Emily Lewis plans meetings for meeting planners— no easy task! She is the conference manager for MeetingNews and sister magazine Successful Meetings,organizing multiple Successful Meetings University events across the country each year. International Meetings Survey Results MeetingNews’ International Meetings Survey results will be unveiled at the upcoming Successful Meetings University – International event, being held March 3-5 at the New York Marriott Financial Center Hotel. Last year’s program featured more than 50 exhibitors from Europe, AsiaPacific, Africa, the Middle East, and the Americas. Insider information to be divulged and discussed includes: • Where meeting planners are taking their groups abroad • Lead times for international programs • Key factors used in international site selections • Challenges planners face coordinating programs overseas • Top resources planners utilize for international events *If you plan international meetings, check your e-mail inbox and return the survey! Visit our Successful Meetings University website, www.MeetingNews.com/SMU, for the latest information about these programs, and feel free to e-mail any questions about the events to emily.lewis@nielsen.com. We’re expecting to hear from you! 58 MeetingNews November 19, 2007 www.meetingnews.com http://www.MeetingNews.com/SMU http://www.MeetingNews.com/SMU http://www.meetingnews.com

Table of Contents for the Digital Edition of Meeting News - November 19, 2007

Meeting News - November 19, 2007
Contents
What’s Up @ MeetingNews.com
Chef Talk
Transportation & Services
People Making News
MN Webcast Report
Successful Meetings University
Advertisers Index
Live from the Forum

Meeting News - November 19, 2007