Hello,
My fiance and I were debating about canceling a contract with a venue due to finances. We are more than a year out from our wedding. However, upon reviewing the contract some things confused us and we just wanted to understand what the contract was saying, namely two clauses in the cancellation policy.
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1. If cancellation is within 12 months of event, 25% of total contract amount is non-refundable. If cancellation is within 8 months of event, 50% of total contract amount is non- refundable. If cancellation is within 6 months of event, 100% of total contract amount is non-refundable. Cancellation – at any time – a $2,000 administrative/event consultant commission fee is non-refundable in addition to any percentage owed from above. Cancelation checks will be mailed 30 calendar days after event is canceled.
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2. Client agrees that [venue] shall have the absolute right to retain all monies paid, including the deposit, and Client further agrees to pay any portion of the contract price which may not have been paid
Based on number 1, we understand we lose $2k regardless of when we cancel. However, we are unsure what clause 2 means - clause 1 makes it seem if you cancel before 12 months, you only owe the $2k, within 12 months, you only lose 25% + admin fees, but clause 2 makes it seem they keep we already paid ($10k) + we pay 100% regardless of when we cancel.
What does this contract mean exactly?