Administration Agreement Deutsch

The agreement, notification, consultation, regulatory agreement, broader advertising agreement, administrative agreement and declaration of trust constitute the whole agreement and all prior written and oral agreements between the Authority and the borrower with respect to the purpose of this agreement. The hotel management contract is a written agreement between the owner and the hotel operator. The basis of this relationship is that the operator performs the day-to-day work of the hotel and assumes all the additional tasks such as maintenance, reception, housekeeping, food and beverage management and sales. The management contract company has the power to recruit and lay off employees. The owner will authorize and pay for the hotel`s capital project, but the responsibility rests with the operator. Hotel management contracts can be long and complicated. The negotiation of this agreement focuses on the power of the owner and on the rights of the operator. The initial project is presented by the potential operator. It is usually in favor of the operator, so the trader can look for a long-term contract.

It does not want an interference from the owner, but at the same time a continuous supply for the development and growth of the project. [9] The main objective of this agreement is that investors in some hotels do not have the skills and knowledge to operate them. You are just a businessman with a good financial status. They lack experience or expertise in this area. They therefore need the support of these management companies who can get their investments produced. [10] Finding a management contract can create difficulties and problems for contractors. By entering into such agreements, companies risk their privacy. When a businessman hands over the management of his business to a third party, he may accept confidential litigation. These contracts expose the company to ethical violations, fraud and public detection. Information on other contracts made by the activity is also available to management companies. Because there are responsibilities ranging from price trading to inventory control, they have complete information about lenders. Management`s responsibilities include the registration of all employees, their personal data and payment procedures.

Contract management companies also have business finance information. This puts the company in a precarious position.