Cadmium Blog - Events & Education Insights

Exhibitor/ Sponsorship Cancellation Refund Procedures

Written by Cadmium | Apr 21, 2020 4:00:00 AM

Written by Jen Kehrin, CEO of Sponsorship Boost

Here are some questions to consider when determining your refund policy for exhibitors and sponsors during the COVID-19 pandemic.

1. Determine Refund Policy

  • Will you refund companies?
    • Will it be a full refund?
    • What about sponsorships that already happened (eblast, attendee list, etc.)?
  • Will you offer a credit?
    • For Next year’s meeting
    • Other potential sponsorships this year?
  • Will your vendors offer refunds?
    • Official Service Contracts (Decorators) – Will they offer refunds for furnishings, electricity, banners, etc?
    • AV – Will they offer refunds for AV already rented?
    • Sales team  – Will you issue commissions for items already sold?

2. Determine process Who Will Be Credited vs. Refunded

  • Will association decide on credit vs refund?
  • Will companies self select credit vs refund?
  • Give deadline for suggestion. After deadline, automatic roll-over to credit only.
  • Create a list of companies to be refunded
    • Company
    • Items Purchased, Total $
    • Payment Type
  • Create a list of companies to be credited
    • Company
    • Items Purchased, Total $

3. Determine Process

  • Refunds
    • How will the association refund the companies back?
    • Will there be merchant processor charges associated with refunds?
    • If a credit card has been cancelled or the merchant processor will not allow for a refund, will you write a check refund?
    • What if a wire transfer was used?  Will a check be issued?
    • When will refunds be issued?
  • Credits
    • Will the credits be applied to a future show?
    • Will the credits be per item or per $ (ex. Eblast credit vs. $1,500 credit)?

4. Determine Reconciliation

  • Refunds
    • Will a receipt be sent to companies?
    • Will a receipt be sent to the association?
    • How will refunds be tracked internally?
    • Reconcile each week!!