People who own theatres will naturally have to sign and manage a multitude of contracts. These legal agreements ensure that promises between them and different entities are kept. This industry can be incredibly tough. There is no guarantee that a show will turn enough profits. Meanwhile, disagreements between the owner and performers often lead to unpleasant and unexpected complications.
The more contracts that are in place the more secure the theatre will be. The problem is that not everyone is up to the task of monitoring numerous legal documents. Consequently, plenty of theatre owners require assistance in this matter. That is where the reliable services from Precisely can come in handy. They offer cutting edge software that streamlines contract management.
Ticket Sale Shares
When a production is held inside a theatre there will be a deal between the troupe and owner about ticket sale shares. It is vital that the contract clearly states how much each party gets. This could be a monetary figure or a percentage. Either way Precisely contract management software can be utilised when drafting it out. The same document could also detail who is liable in the event of losses.
Guaranteeing A Venue And Performance
A nightmare scenario for performers is if the theatre owner suddenly decides that they do not want to host the show. Conversely, if a troupe suddenly pulls out without notice then the theatre can lose a significant amount of money. To prevent this from happening a contract should be drawn out. It will set in stone the agreement between the two parties.
Hiring Out Equipment
To pull off a great looking show a large amount of equipment will need to be utilised. This will include lighting and sound systems. Some theatres like to buy these. However, it is often more cost-effective to hire them from certain companies. When doing so numerous contracts will have to be signed. Precisely will help people keep track of multiple ones so that they do not accidentally renege on one.
Staff Employment Agreements
This software is also useful for managing theatre workers. Sometimes their terms of employment will only be temporary. At some point, the contract will expire and have to be renewed. Managers need to know when these dates occur so that they can plan for them. They could use Precisely to set important reminders and send notifications.