Should I have a refund policy?

[blessedevents]

I'm currently starting my own event planning company and need to know what type of refund policy should I have in place. I would love to hear from both brides and vendors regarding this matter.

[officiant-fica]

I have a non refunable deposit/retainer. I hold the check or cash for five days for pre-booked weddings. Hope that helps. I am a wedding Minister and I ask for a dollar amount verses a percentage.
Good Luck with your business!:p

[WebLady]

I do planning on the side these days and I also used to do wedding photography. I have a non-refundable retainer to book me and hold the date. I usually ask for half up front as the deposit and half of that is non-refundable no matter what. Then I have a detailed cancellation policy in my contract stating that the client will loose a certain percentage of the monies paid in as the contract ages and the date draws closer ... once it gets to be a month before the wedding I don't offer any refunds at all. I will offer a date transfer or some sort of a credit depending on the situation. I also require full payment 2 weeks prior to the wedding day.

Hope this helps, good luck :D

[Kacie_bride]

I am just a bride, but I have some input on my opinion. I think a non-refundable deposit is a good idea. I would have it be at least 50% of the total amount. Then like weblady said, up to a certain point have a total no refund, but allow them to transfer the date or get some type of credit. And defiantely 2 weeks at the very least out it should be paid in full.

[The Wedding Diva]

I do a 30% non-refundable retainer, with some price penalties there after for cancellations.