6.3 MFACSR 10-10-2022 - Laserfiche WebLink

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FINANCIAL ARRANGEMENTS 1. CATERER shall be required to reimburse the BOARD a percentage of the revenues generated through food service based on the following formula (hereinafter : a. MGCC will receive 10% of all gross sales for food and non-alcoholic beverage service scheduled Monday through Thursday and daytime rental (8am 5pm) on Fridays; b. MGCC will receive 15% of all gross sales for food and non-alcoholic beverage service for all day events scheduled on Friday evenings (5pm 1am), all day events scheduled on Fridays (8am 1am), Saturdays, Sundays and Holidays 2. CATERER shall calculate the Commission Rate based on the gross sales excluding the sales tax and service charges. 3. The collection of deposits and fees for all catering charges are the sole responsibility of CATERER. Non-payment by a client to the CATERER for Catering Services rendered will not negate payment of the Commission Rate revenue to the BOARD. 4. 5. CATERER agrees to pay the BOARD the Commission Rate revenues based upon the final billing for each Catered Event. The CATERER is responsible to provide one copy of the final billing for each Catered Event in a given month to the Rental Coordinator within ten (10) business days after the event. The BOARD shall receive a check made payable to Maple Grove Parks and Recreation for Commission Rate revenue amount due accompanied by the data supporting the Catered Event. 6. CATERER must make the payment within ten (10) business days after the event or, if approved in writing by the MGCC Manager, by the 15th of the month following the Catered Event. Any failure to make a timely payment as provided for above shall, in addition to other remedies available, have the amount due being subject to an eighteen percent (18%) annual interest rate on delinquent payments. 7. The BOARD reserves the right to inspect all financial records for an event. CATERER must provide documentation within two (2) business days upon request. 7 | Page