Venues

    Second Option

    A venue's agreement to contact a second interested party if the first option holder declines or does not respond.


    Second options are useful for clients who are not yet ready to commit but want to be in the queue if the date becomes available. If the first option holder declines or their window expires, the venue offers the date to the second option holder, who then has a window to confirm. Second options convert to first options automatically if the first-option party releases.

    Back to full glossary

    Ready to put this into practice?