Deposit Signing the contract 25% of the total amount
Final Payment Fifteen (15) days prior to event balance 75%
If Holiday Inn Mumbai International Airport is advised that the entire event is partially or entirely cancelled, the following cancellation fee will be applicable. This fee will be a percentage of the total estimated room rental and food and beverage expenses and will be on a sliding scale as follows:
Notification of Cancellation
Period Prior to Expected Arrival Cancellation Fee
Before 90 days 50% of the Expected Revenue
Between 60 days and 30 days 80% of the Expected Revenue
Between 30 days and arrival 100% of the Expected Revenue
The retention charges for cancellation of event are charged, irrespective of the re-sellable value of the venue.
These amounts shall constitute full settlement of any and all obligations arising out of the non-performance of this agreement.
All Venues are blocked tentatively and is subject to availability until signed agreement along with initial deposit is received by the Holiday Mumbai international Airport. The final option date is 4 February 2015 If a signed copy of the letter of agreement and the initial deposit is not received by the above date, the hotel reserves the right to release all the function space without prior notice.
The terms and conditions stipulated in this Letter of Agreement will be considered final when duly signed by both parties. Any subsequent changes will only be made with the written consent of Company and Holiday Inn Mumbai International Airport.