Festivals, rodeos, fairs, any event where you are bringing in food vendors and other concessionaires means settling with them at the end. Settlements is a formal way of saying you are going work with each vendor on costs they owe based on their commission rate, who is paying the taxes and POS transaction rate, if there is any rental fees, etc. Each of these is unique to the event and the person running the event which is why it becomes so important to have a unified way to 'settle' with every vendor since each of their situations could be different and have different terms. In this post we go through the most notable to take into account when you are settling, and what each of the key terms mean.