a) Full Group
In the event the reservation is cancelled, the following charges will apply and be the responsibility of the Renter:
- cancellation up to 30 days prior to Date of Rental 50% of Rental Cost
- cancellation up to 14 days prior to Date of Rental 75% of Rental Cost
- cancellation up to 7 days prior to Date of Rental 100% of Rental Cost
Please note that this is not a penalty charge, but an attempt to re-coup losses incurred in case of a cancellation.
b) Partial Group
A decrease in the Renter’s Group of more than 25% of the reservation attendance will result in a charge of $10.00 per individual participant per day if such change is made less than 14 days prior to the Date of Rental, such charge representing the Institute’s lost food and beverage cost.
Invoices not paid in full within 30 days of the Arrival Date shall be deemed to be overdue and any outstanding balance shall accrue interest at the rate of 1.5% per month, equivalent to 18% annually.