Direct answer
A Transfer lets a Seller pass the value of an event they can no longer use to a Buyer, with the approval of the relevant Vendors.
The aim is to preserve as much as possible of what has already been arranged and paid for, so the Buyer can build on the existing event instead of starting again from zero.
A Transfer does not mean that every original Vendor agreement must simply be moved unchanged to the Buyer. The way a change of client is documented can depend on the Vendor and their normal contracting requirements.
What is being transferred?
Depending on the event, the Transfer can include:
existing Vendor services and arrangements;
the applicable Vendor terms;
prepaid deposits or other amounts already paid by the Seller;
and the Buyerâs responsibility for amounts that remain payable to the Vendors.
The exact deal baseline is recorded in the Deal Specification.
Why this matters
The Seller may no longer be able to use an event they have already spent time and money preparing.
A Transfer gives another Buyer the opportunity to take over that prepared value instead of starting from scratch, while keeping the relevant Vendors in control of their own services, terms and approval of the new client.
Does a Transfer mean every original Vendor agreement stays exactly the same?
Not necessarily.
The existing event arrangements and prepaid value can form the basis of the Transfer, while the Vendor remains in control of how they document their relationship with the Buyer.
A Transfer only proceeds where the required parties agree to it. The platform coordinates and documents the Transfer, but it does not currently become a party to the underlying Vendor agreements.
What to do next
If you are a Seller, start by describing the event arrangements and inviting the relevant Vendors to confirm their participation.
If you are a Buyer, review the opportunity in the DealRoom and the Deal Specification before deciding whether to make an Offer.