Mpi Vocabulary

Front 1

acceptance

Back 1

signature on a contract

Front 2

Act of God clause

Back 2

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)

Front 3

addendum

Back 3

an addition to a completed written document; must be signed by all parties to become part of aleagally binding contract

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agent

Back 4

a person acting on the authority of another (the principal)

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American Society of Composers and Publishers (ASCAP)

Back 5

a major US music licensing organization

Front 6

antitrust laws

Back 6

federal laws that prohibit one business from monopolizing trade and excluding competitors

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arbitration

Back 7

a procedure devised to resolve a dispute outside of the court system

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attrition

Back 8

reduction of the room block reserved for a meeting; nonfulfillment of the block

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authorized signature

Back 9

signature from a person with the legal power and influence to make a decision; required on all contracts

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blanket license

Back 10

permission granted by aperforming rights society to play any music in its repertoire

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Broadcast Music, Inc. (BMI)

Back 11

a major US music licensing organization

Front 12

cancellation clause

Back 12

provision in a contract that specifies penalties that apply if either party terminates or fails to comply with the terms of an agreement

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cancellation insurance

Back 13

policy secured by a facility or organization to provide compensation for income lost due to the cancellation of an event

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cancellation policy

Back 14

written statement of actions that can or will be taken in the event of a cancellation due to a specific circumstance

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clause

Back 15

a detailed section fo a contrac tpertaining to a specific issue

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confirmation letter

Back 16

letter to a speaker acknowledging that a commitment has been made by the speaker and the organization and outlining information about the meeting

Front 17

contract

Back 17

a legal agreement bwetween competent parties to provide a particular service, the breach of which involves a legal penalty

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convention liability insurance

Back 18

insurance policy that covers the meeting sponsor for any expenses from legal action due to bodily iinjury or property damage claims

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copyright

Back 19

the exclusive legal right to reproduce, publish or sell literary, musical or artistic work

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cutoff date

Back 20

deadline for holding a number of rooms or ticket guarantees at the group rate

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double booking

Back 21

when two or more groups or individuals are promised the same space during the same timeframe

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dram shop laws

Back 22

laws designed to protect individuals who are injured due to the negligence of an intoxicated person

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electronic contract

Back 23

an electronic document with valid electronic signatures that all parties agree is legally binding

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electronic signature

Back 24

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

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encryption software

Back 25

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

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force majeure

Back 26

an unexpected or uncontrollable event

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guest room commitment

Back 27

rooms to be held open each night of the meeting, specified by room type (single, double, etc.)

Front 28

hold harmless clause

Back 28

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

Front 29

indemnified

Back 29

secured against loss or hurt; held harmless

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insurance

Back 30

legal agreement by which one party guarantees to undertake loss suffered by the other under specific circumstances

Front 31

acceptance

Back 31

signature on a contract

Front 32

Act of God clause

Back 32

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)

Front 33

addendum

Back 33

an addition to a completed written document; must be signed by all parties to become part of aleagally binding contract

Front 34

agent

Back 34

a person acting on the authority of another (the principal)

Front 35

American Society of Composers and Publishers (ASCAP)

Back 35

a major US music licensing organization

Front 36

antitrust laws

Back 36

federal laws that prohibit one business from monopolizing trade and excluding competitors

Front 37

arbitration

Back 37

a procedure devised to resolve a dispute outside of the court system

Front 38

attrition

Back 38

reduction of the room block reserved for a meeting; nonfulfillment of the block

Front 39

authorized signature

Back 39

signature from a person with the legal power and influence to make a decision; required on all contracts

Front 40

blanket license

Back 40

permission granted by aperforming rights society to play any music in its repertoire

Front 41

Broadcast Music, Inc. (BMI)

Back 41

a major US music licensing organization

Front 42

cancellation clause

Back 42

provision in a contract that specifies penalties that apply if either party terminates or fails to comply with the terms of an agreement

Front 43

cancellation insurance

Back 43

policy secured by a facility or organization to provide compensation for income lost due to the cancellation of an event

Front 44

cancellation policy

Back 44

written statement of actions that can or will be taken in the event of a cancellation due to a specific circumstance

Front 45

clause

Back 45

a detailed section fo a contrac tpertaining to a specific issue