Reed Requiring 20% Penalty For ISC West Exhibitors Dropping 2021

Executive *******

***** **** ***** *** 20% ** ****** ***** contractual ****** ** ********** due ** *** ********, many ************* **** **** as ********** **** *** a **** *********** * times *** *** ***** run ** * ********** different **** *** **** radically ***** **********.

**********, **** *** ******* manufacturer ******** ** **** $10,000 ** $**,*** ****, we ** *** ****** this ** ****** ** any ***** ******, ** it ** ******** *** likely ************ *** ****** litigation.

*******, *** ***-**** **** Reed *** ********** ***** their****-****** ************ ** *** original **** ****(**********************), ** ***** ***********, increasing *** **** **** many ********** ******** ***** 2022 ****** ** *** not ** ******* ********.

Reed ********

**** ********* *** '**% retention ***', ********** ** IPVM **** **** **** a ******** **** ******** payment ** **** *** withdrawing *** **** **** have ******** *********** *****:

****** ****, *** **** will ** ****** ***** July **-**, **** ** the ***** **** ** Las *****. ** **** done *** *** ********* show ***********, ********* ******** health *** ******** ******** and **** ******* ** welcoming *** ******** & public ****** ******** **** to **-****** *** ********’* future ******** ** *** Vegas. ** *** *** case ** ****,we ***** *********** ***** in preparing to hold an event and we rely on the participation of our contracted customers. From a practical perspective, the team has planned, developed, and invested considerably in ISC West 2021. The difference between 2020 and 2021 is that this **** ** **** ** ******* *** ***** *** *** ******** ******** **** ********* ***** ** ******* ** **** ** **** ******** **** *** *****. Given these times, we are working with our customers to find creative solutions, including the ability to downsize their participation and take advantage of our digital offerings without penalties. If a customer cancels their commitment to participate in any of the options available, we still have an obligation to pay our venue, vendors, partners and staff and the 20% retention fee - which is a provision of the contract - offsets some (though not nearly all) of those expenses. [emphasis added]

Costs *** *******

***** **** ********** *** costs **** ********, ****'* business *** **** ********* profitable **** *** *****. For *******,** ****, ***** ** *****, Reed *** ** ********* profit ** ~$*** ******* USD *** * **% operating ****** ****** (***** is ****** **** ********* all ** ***** **********).

**** **** *** ****** money ** ********** ** good ***** **** *** profits *** ****** *** cost ** ***** ****. But, ** *** *****, when **** **** *** deliver *****, **** ******* the ********** ** ***** pay.

20% ******* *********

********** *** **** ******** from ~$**,*** *** *** smallest ****** ** ~$***,*** for *** **********. **** is **** *** '********' cost - *******, *****, Unions, *** *** ***** of ***** ******** *** extra. *** **% ******* will ***** **** ~$*,*** towards $***,*** *** *** biggest **********.

*** ******* ** **** applied ** ************, *.*., we ********* *** **** for **** *** ** were********* $*,***+ *** **** when ** ********. *** *** ******* how *** **** ** since (*) *** ** going ** ** ****** handouts ** * ******** and (*) *** **** people *** ***** ** even ** *****, *** alone ***** ****** * bag?

Same **** ****?

***** *** **** *** location ** *** **** in **** *** *** same ** ** *** when ** *** **** held ** ****, * number ** *********** *********** now ***** **** **** exhibitors ****** ***** *********:

• ********** ********* ********* **%+ **** from **** (*** ** 1,000+)
• ********* *** ******** ** be **** ** - 75% (*,*** - **,*** vs **,***+)
• *** **** **** ******* on * ********* ***** the **** **** ****** on * ******. ***** week ****** *** ***** for ********** ** ** reduces *****-*** ********** *** forces *** ** ****** the *******.
• *** **** **** *** held ** *****, *** 2021 **** ** ***** held ** ****. ****** exhibitions *** **** **** attractive **** ****** ****, due ** *********, ******** out ** ******, *** peak **** ** *** Vegas, ***.

*** ******* ** **** this **** **** ***** "ISC ****" ** *** inferior *** ********** **** the *** **** ****** up *** * ***** ago, **** ** ** health ***** ****** (*** the **** ** ********).

Frustration *** **********

* ****** ** ********** voiced *********** ** **** calling ****'* ******** ****** and *****-******* ****** *** surprising, ****** *** ****** of *** **** ****.

** *** ***** ****, some **********, ****** *** to **** ***** ******** payment, **** **** *********, as **** *****, ** downsize ** ** **** up *** ****'* ******* activities.

2022 **** *******

**********, **** ****** **** has **** ** **** clear **** *** **** show ** **** ** ~9 ******. ********** *** manufacturers ** ****** ***** booth ***** ** **** stop ********** **** *****. However, ** *** ** economy ** ***** **** (which ** ** ********* to ** **) *** exhibitors **** *** **** as ***** ********* ** their *********, **** ***** snap **** ** **** might ********* *** **** for ***** ** ****.

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