We hope you are keeping safe and well.
I am writing to follow up on the recent announcement of in-cosmetics Korea postponement due to the escalation of Covid19. Thank you for your patience as we have been working our way through the complexities of this unprecedented situation. As a result of this postponement, in-cosmetics Korea 2020 exhibitors will have their contracts rolled over and the 2020 fees carried over to the 2021 event. However in view of the current unprecedented circumstances, we are also offering exhibitors the chance to cancel their 2020 contract and obtain a refund, minus Reed Exhibitions event expenses incurred prior to the postponement on 1st May 2020. Here are the two options for you to consider:
Option 1. This involves your contract to exhibit and 100% of the charges paid for the 2020 event being rolled over for the 2021 event in accordance with Regulation 44.3. This will include, where applicable, all charges for space, smartspace, shell scheme, sponsorship & advertising but it will not include any monies paid for the Exhibitor Indemnity as the Exhibitor Indemnity was specifically taken out for the 2020 event and is not transferable. This option will allow exhibitors to retain both 2020 pricing and stand location.
Option 2. This is a one off option which will allow you to cancel your 2020 contract and receive a refund of the charges paid (this will include, where applicable, all charges paid for space, smartspace, shell scheme, sponsorship & advertising but not the charges paid for the Exhibitor Indemnity) minus the event expenses incurred by Reed Exhibitions prior to the postponement of in-cosmetics Korea on 1st May 2020.
As you are aware, Regulation 44.2 of your contract states that:
44.2 Termination of Contract and/or Event: If the Organiser terminates this contract and/or the Event (or any part thereof) as a result of Force Majeure, the Organiser may retain such part of the Service Charge and VAS Charges as shall be required to recompense it for expenses incurred up to the time such contingency shall have occurred and there shall be no further liability on the part of either party. The Organiser shall not be liable for any costs, damages, fees or expenses of the Exhibitor as a result of such termination.
I can now confirm that the refund has been calculated as:
- 92% of your 2020 contract value (excluding the monies paid for the Exhibitor Indemnity), less any debt outstanding.
Would you kindly inform your local sales contact of your preferred option via email by 5 pm on Friday 19 June 2020
. Your sales contact will be in touch shortly to discuss the options with you once again and answer any questions. If we do not hear from you by this date, we will assume you wish to opt for Option 1.
Thank you once again for your continued support and patience.
in-cosmetics Korea team