Sara
Beginner August 2022 Alberta

Wedding Venue wants 70% upfront, but still under construction

Sara, on August 20, 2021 at 17:04 Posted in Wedding reception 0 8
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So we found a venue that checked all our boxes for us, large indoor space with a great aesthetic based on their descriptions so far, large heated covered patio incase covid restrictions come back into place, bring all our vendors for bartending, catering, not too far from the city etc. Only hang up is that it isn't finished being built yet... they have opened up their booking for this May 2022, and our wedding would be late August.

Their payment schedule has stated that they would like 30% today for our initial deposit, 40% 270 days before our event (so 3 months from now... ) bringing us up to 70% of the total being paid 9 months in advance of our event. Then the final 30% is due 3 months before our event. This is an odd payment plan to me, since most venue contracts we have seen have not asked for another payment after the initial deposit until 30-60 days before the actual event takes place. My fiance is concerned that with our current economic landscape that this venue could go bankrupt before completion and we would end up losing our investment (70% of the rental fee). I have asked for a clause to cover us in the event it wasn't built in time but this would not cover us if they went bankrupt before finishing. Has anyone seen a payment plan like this before? They are arguing that this is an industry standard but i just don't get it.. it feels to me as though they are using our money to fund their project which does not help my anxiety at all lol

8 Comments

Latest activity by RonAnthony, on September 27, 2021 at 14:17
  • RonAnthony
    Beginner November 2022 Ontario
    RonAnthony ·
    • Dispute

    I was given advice by someone that venues should not ask for 50% or more deposit as it is likely that company is in the brink of bankruptcy. I suggest you keep looking for another venue and save yourself the stress and heartache if things don't pan out with the venue. My fiance and I are paying 15% upfront and 15% 6 months before the wedding date. The rest will be paid two weeks before the wedding.

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  • Christiana
    Super November 2020 British Columbia
    Christiana ·
    • Dispute
    So many red flags! Unless this place is so perfect that you’re willing to risk losing the money and finding a backup last minute I would just keep looking.
    • Reply
  • Sabrina
    Curious July 2022 Ontario
    Sabrina ·
    • Dispute
    I forgot to mention, I wouldn't book a place you haven't physically seen completed. What if the vibe is off, the owners are creepy, the bathroom toilets leak, there is a weird smell, etc, and you don't find out until the day of... it could put a damper on the day and that would be so unfortunate.
    • Reply
  • Sabrina
    Curious July 2022 Ontario
    Sabrina ·
    • Dispute
    For reference, our payment plan looks like this: 1,500 deposit, 50% 60 days before event, 25% 7 days before event, and the remaining 25% 7 days after event.
    Tbh, it does sound like they are using your wedding as a way to fund the project. Could it be great and could they be genuine? It's possible, but I wouldn't risk it. Your Fiancé made a good point. Starting in this industry during COVID isn't a smart business move either, so I would definitely keep my guard up. With that said, if you still feel like it's the best option for you make sure they have vendor insurance (it has to be vendor). If they declare bankruptcy, insurance will pay back everything you've paid out. You could also get your own insurance (highly recommend) to cover for all your vendors. You enter in the amount of the total cost per vendor and upload the contract you signed with them and if one doesn't show up or cancels last minute for any reason your insurance will pay you back for it and go after the vendor that didn't live up to their contract (photographer, florist, cake baker, DJ, venue, officiant, etc.) It would still suck but at least you would be covered.
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  • Megan
    Frequent user July 2023 Ontario
    Megan ·
    • Dispute

    Just as a reference, our payment schedule was 25% upfront, 25% 6 months prior and the remaining 50% 3 weeks prior. So that payment schedule seems odd to me.

    • Reply
  • Hank
    Featured September 2021 Ontario
    Hank ·
    • Dispute
    DO NOT book any venue where you've not physically seen the space. And there's absolutely no way I would agree to a full payment three months prior to an event. No venue demands that and they are lying through their teeth if they day that's how it's done.
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  • Rebecca
    Frequent user October 2023 Newfoundland and Labrador
    Rebecca ·
    • Dispute
    I would be concerned as the venue is not complete yet … hang ups and delays are so common and I would worry that funds for the bookings are being used to complete building and if anything happens refunds may not be available if they cancel or have delays and I personally would be wild if that happened to me


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  • Amanda
    Featured August 2022 British Columbia
    Amanda Online ·
    • Dispute

    My fiance and I's payment plan for our venue is about the same. We gave them the initial $5000 at the start. And then again about a few months before and the rest will be about a week after our wedding. But we've also talked to our event sales manager for our venue and we've been able to give money here and there throughout the course of the time leading up to our wedding so we're giving such a big amount at certain times and also not having a huge bill at the end.

    If I was in your shoes if the venue wasn't going to be held reasonable for the money that you've already put down if the venue wasn't ready, I'd be a little skeptical about that. That would worry me that you don't know for sure that the building will be finished

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