Deposits/cancellation fees?

You'll have to excuse the first part of this post because it'll likely just be me venting (couldn't seem to find the "Where's the Beef?" section) but it does lead to some questions that hopefully I can get input on:
So I had a 2-day gig booked this weekend with CBC, good money, and they had requested a FIFA-related costume (which I had started to plan but hadn't gone out of my way yet to put it together, thank god).
This morning they emailed me saying that they had to cancel their entire event, and therefore, cancel my booking.
Fortunately I didn't lose any other business this time since I hadn't had any requests for parties, etc that overlapped with the CBC gig, nor did I have to postpone any personal plans, but of course that doesn't always happen and often times I am rescheduling things around my bookings.
Besides from me being very frustrated, I am rethinking my deposit/cancellation policy (which is non-existant). I've never charged for cancellations and don't require deposits for any events, but after this cancellation I'm starting to think I should collect a non-refundable deposit, at least for larger events.

What do your deposit policies usually look like (i.e. flat deposit amount, percentage of total, how far in advance, etc?)
Also, what is your cancellation policy like? Do you require a certain amount of notice, or charge the client if they cancel without providing notice?

Any advice would be appreciated!!!

i have a $50 deposit that is refundable if you cancel at least 2 weeks prior. after one cancellation, when I already had plans for the money, i started adding this to my contract.

I require a non-refundable deposit for all corporate jobs and all out-of-town bookings of $150. At this time I don't require one for birthday parties, but do require they pay cash.

If they cancel I will apply the deposit to another date but other than that I keep it.

My deposit is only $20, but at least for parties, it's enough to keep them from just ditching me (who wants to be out twenty bucks for nothing?)... I also say that it is refundable until 2 weeks before, after that point, it would be harder to fill the date with something else.

$50 non-refundable. If given a one week notice, they can reschedule within the same calendar year.

$25 non-refundable deposit. I will reschedule if I have an opening. I also use a contract so the client knows what they're getting, & what they are required to provide for me(shelter!!!). I've only had 1 cancelation in 2 years since I started using the contract & I did keep the deposit.

Thanks for your advice, sounds like $25-$50 is the average range here. Not sure if I'll do it for birthday parties at this point but longer corporate events I will definitely do that.

I do a 50% retainer on all events. $25 doesn't seem like much to hold a big multi-day event - what's $25 to a large company? If you've blocked off 6 hours, turned away other jobs and get cancelled on a few days before...I've had people not want to put a deposit down, in which case I say that's fine, but I can't hold your date.

If cancelled more than 3 weeks prior, I refund the retainer minus 10%. Within 3 weeks, I keep it, but will reschedule if it works with my schedule.

I have the deposit mostly for birthday parties. $25 is a lot to loose for a family, so they won't book if they really don't intend to go through w/ the party. I've had people book ALL the entertainers in the area & then "Let them all go" just before the party... now no ones working. It also prevents fictitious parents from faking a job. Yes, a company was doing this to kill other's business in my area. When I 1st started, they filled my calendar up.

Linda, that is the BUNKEST thing I've EVER heard! Lame, and petty - your work should be able to speak for itself, without you having to resort to screwing other entertainers over like that!

I used to waver between $50 and 50%, depending on the event - that got confusing and I settled on the latter. I have had a couple of people (one being my aunt's friend - we've had dinner together and gone shopping and everything, in the past!) drag out sending a retainer in - one because it was penciled in 8 months in advance, and then decided that they were going to have a small party this year, and one last year who had planned a park party, but didn't want to commit just in case it rained and they had to go elsewhere. Told them I couldn't hold the dates any longer, but they were welcome to contact me again if they wanted to, and I would accept a retainer to hold the date, if I was still available.

Besides them, I have had no problem collecting a 50% retainer, which has been as much as $170 for a private bbq. I find that if they want/need you, they will book you, and they will pay the retainer and make that commitment! Most of my clients are repeats/referrals/saw me at an event, so they have a feel for the kind of person I am and know I will be there - and they still have to pay the same amount of money either way; it's just split up differently!

(Oh wait...there was one more - a neurotic client I believe I mentioned a few months ago, who booked, didn't want to pay the retainer, cancelled, rebooked, then told me I was being too complicated and cancelled again...so 3 people. Haha)

I do have one big client (technically I'm booked by a PR company who's hired by another company's PR department) who's just booked me for my 3rd gig since December (2 of them were/are multi-artist!), and I find the big companies (ie: the ones with the legal depts) really finicky...when I signed up as a...shoot, what's the word...anyway, I'm on their roster/have an account now. I'd signed up under my name instead of my company name (not quite sure why I did that - read the form incorrectly?), and as a result, they wouldn't accept my invoice with my logo/business name. Ridiculous, I know. So I reformatted the invoice. They also didn't like my having a disclaimer/terms on it (see? Legal dept!) and I had to take that off. (I'm insured anyway, so that was there as an I know you know kind of thing.)

Anywho, those last two events were booked a week or two prior to the event, and two of the 3 were/are weekdays. I didn't end up taking retainers - their forms stated that payment will be received usually 30-90 days afterwards. But because retainers are my security blanket, I'm adding a note that in case of cancellation within 3 weeks of the event date, a 50% cancellation fee will apply...little nervy about how they'll take that, honestly.

I don't see them cancelling, and it is a weekday morning...I want to cover my butt but also really want to keep this client...

I'm going to press "send" - I know if there's a problem with it I'll hear about it, and can change it then

I'm with Kristal at 50% of the booking total. I've only had a few people who have balked at that but usually once I explained to them that without it, I can't hold the date (even though it's stated clearly on the booking for).

One particularly salty woman made a comment about being a woman of her word. She'd already given me such a headache with the detalils of the booking changing and insisting that I provide things that I couldn't provide (i.e. a twister for an additional $20-$30/hr) so I didn't care one way or the other if I booked her. I told her that we could do a word of mouth contract. I told her that her retainer assured me that I would not be taking a big risk by turning away other job offers for the same date/time and it offered her piece of mind that the entertainment for her daughter's party would be there as promised. I told her that without it, she could cancel on the day of the party and/or an unscrupulous entertainer could 'forget' about her party once a more lucrative booking came along. Much to my chagrin, she sent the retainer, but she didn't get her blackmarket balloon twister so she was a bit annoyed for the whole party.

The corporate gigs I've worked have been a little hit or miss with the retainer thing. Some do send in a retainer( small businesses), some sent me the contract back with a stamped thingy on it with a P.O. number assigned (bigger business) and some have paid me in full weeks before I even have to arrive (usually the car dealerships).

I've had many verbal bookings cancel (usually the ones that call on a Thursday for a Saturday party expecting the Priceline concept of low priced last minute bookings to apply), but none that have sent back the contract/retainer.

I've found a way to not wait 60-90 days for a check from big corporate companies. A lot of them can pay in full through paypal.