By setting a cancellation policy you ensure minimum payment requirements are met, and maximum availability for additional bookings.
Your cancellation policy should aim to ensure fair compensation in the event of a customer cancelling a booking, which reflects the time and cost involved in organizing the booking and the decreasing probability of being able to find alternative work at short notice. For all cancellations, the portion of your fee you are entitled to retain should depend on:
* When the customer booked
* How long before the event date they cancel
Consider the following cancellation table as an option:
Event cancelled 30 days out / 5% + any expenses incurred
15 days out / 50% + any expenses incurred
5 days out / 75% + any expenses incurred
1 day out / 90% + any expenses incurred
You can set your deposit and cancellation policy on specific dates in the calendar on your dashboard. As an example, if a booking is on a holiday you can set a higher deposit amount, etc.