MPI Vocabulary
Terms
undefined, object
copy deck
- acceptance
- signature on a contract
- Act of God clause
- part of a contract that releases both parties from liability in the event that something happens that is out of their control (hurricane, tornado, war)
- addendum
- an addition to a completed written document; must be signed by all parties to become part of aleagally binding contract
- agent
- a person acting on the authority of another (the principal)
- American Society of Composers and Publishers (ASCAP)
- a major US music licensing organization
- antitrust laws
- federal laws that prohibit one business from monopolizing trade and excluding competitors
- arbitration
- a procedure devised to resolve a dispute outside of the court system
- attrition
- reduction of the room block reserved for a meeting; nonfulfillment of the block
- authorized signature
- signature from a person with the legal power and influence to make a decision; required on all contracts
- blanket license
- permission granted by aperforming rights society to play any music in its repertoire
- Broadcast Music, Inc. (BMI)
- a major US music licensing organization
- cancellation clause
- provision in a contract that specifies penalties that apply if either party terminates or fails to comply with the terms of an agreement
- cancellation insurance
- policy secured by a facility or organization to provide compensation for income lost due to the cancellation of an event
- cancellation policy
- written statement of actions that can or will be taken in the event of a cancellation due to a specific circumstance
- clause
- a detailed section fo a contrac tpertaining to a specific issue
- confirmation letter
- letter to a speaker acknowledging that a commitment has been made by the speaker and the organization and outlining information about the meeting
- contract
- a legal agreement bwetween competent parties to provide a particular service, the breach of which involves a legal penalty
- convention liability insurance
- insurance policy that covers the meeting sponsor for any expenses from legal action due to bodily iinjury or property damage claims
- copyright
- the exclusive legal right to reproduce, publish or sell literary, musical or artistic work
- cutoff date
- deadline for holding a number of rooms or ticket guarantees at the group rate
- double booking
- when two or more groups or individuals are promised the same space during the same timeframe
- dram shop laws
- laws designed to protect individuals who are injured due to the negligence of an intoxicated person
- electronic contract
- an electronic document with valid electronic signatures that all parties agree is legally binding
- electronic signature
- a sound, symbol or process attached to or logically associated with a contract or other record and executed or adopted by a person with the intent to sign the record
- encryption software
- a computer application that translates date into a secret code; to read an encrypted file, you must have a secret key or password to decrypt the code
- force majeure
- an unexpected or uncontrollable event
- guest room commitment
- rooms to be held open each night of the meeting, specified by room type (single, double, etc.)
- hold harmless clause
- part of a contract declaring that neithe rparty will hold the other responsible for any damages to or theft of materials or equipment owned or rented by eithe rparty; clause declaring that one party will take responsiblity for damages assessed as the result of another party's actions
- indemnified
- secured against loss or hurt; held harmless
- insurance
- legal agreement by which one party guarantees to undertake loss suffered by the other under specific circumstances