Sports Event Sponsorships

[oneseven]

Hello Im abit new here,

Anyway would like to ask a few Questions. I am organizing several sports event in Bangkok around end of this year and have offered several sponsorship packages by our sponsors

One of the agency which is an agent for an energy drink company have offered us a THB XXX'XXX amount of money for one of our event.They would like to do a 60 day Credit payment only after the event is completed. While other companies which i have dealt with before usually pays a 30% upfront before the event

The question is ,

1) Is it the Thai customs to do 60 days credit sponsorship Payment ?

I dont think the sposor will hold a 60 days credit or might be the agency who is the one holding the cash to roll in their bank

Please do give me an idea on this matter

Thanks

ONE

[Gunna2u]

Hello Im abit new here,

Anyway would like to ask a few Questions. I am organizing several sports event in Bangkok around end of this year and have offered several sponsorship packages by our sponsors

One of the agency which is an agent for an energy drink company have offered us a THB XXX'XXX amount of money for one of our event.They would like to do a 60 day Credit payment only after the event is completed. While other companies which i have dealt with before usually pays a 30% upfront before the event

The question is ,

1) Is it the Thai customs to do 60 days credit sponsorship Payment ?

I dont think the sposor will hold a 60 days credit or might be the agency who is the one holding the cash to roll in their bank

Please do give me an idea on this matter

Thanks

ONE

The standard payment schedule is usually 50% payment on signing your joint Agreement, with the balance payable upon your satisfactory completion of the event. It is usual practice for you to invoice them and that invoice becomes payable within 7-14 days, depending on how you negotiate it. Terms of payment are always subject to negotiation, but you can be sure they will drive as hard a bargain as they can, with provisions for non payment included, based on your ability to deliver what you have promised. It is usually performance based. ie: If you don't supply what you promised, they will withold payment.

The old addage applies: "If in doubt, don't !!".

[oneseven]

Hello Gunna ,

Thank you for your input yes that is what i am receiving from other sponsors but anywaythis one they would like to renegotiate and i will see whats the deal are

Thanks

One