It's a matter of preference and policy like we've said about other things. I do 50% to reserve the date, and 50% day-of, or prior-to if they wish. I like having a carrot at the end of the stick to run after and look forward to
In the weddings I've done, I can count the number of times a client has paid in-full prior-to the event of their own accord on one hand. At the other two they paid $75 up-front because I found them on Craigslist lookin' fer a dj and they said I could have all the food and drinks I wanted! But seriously... I have never refused the balance being paid in full prior-to the event, and now I even offer it to them when discussing the payment terms, but all that is really suggested, let alone required is what is laid out below in the payment terms.
As for the cancellation part:
"If the client cancels the event within 90 days of its date, the client owes the DJ 50% of the remaining balance,; if 45 days before the date, 75%, , 14 days before the event 100%, and, if nothing happens, final fee payment in full is due the night of the event." That's totally absurd.
Sorry Charlie. Speaking in terms of this industry ONLY, that's a joke of monumental proportions.
Well, that's not EXACTLY what mine says.... that is a bit ridiculous, I'll admit! Mine is similar, but quite reasonable I think...
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For the above named services provided, Client agrees to pay a Performance Fee of: $__________, payable according to the following payment schedule:
1. A deposit of $__________ due upon receipt of this contract, to be applied towards Performance Fee.
All dates are on a first-come, first-serve basis, according to receipt of deposit. Deposit must be received either before or with this completed contract in order to secure entertainment services for the above date and time. Due to the fact that you are reserving our services for the above date, it is understood that this is a non-refundable deposit, unless certain conditions listed below are met. Because we may turn down many events based on the reservation secured by your deposit, any cancellation will result in one of the following:
*If cancellation occurs 30 days or more prior to the date of the event, one-half of the deposit amount will be refunded to Client.
*If the cancellation occurs within 30 days of the event, the entire contract balance is due.
2. Remaining balance of $__________ due 7 days before event if paying by check, or on the day of the event if paying cash.
No checks will be accepted at the event. Only cash will be accepted on the day of the event. Checks returned for insufficient funds will be charged an additional $30.
Additional Performance Time charges and any other charges or fees listed in the Terms and Conditions shall be considered due with remainder of Performance Fee at event. See Terms and Conditions on reverse for more information.
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My cancellation policy was instituted like the above when I started to be more lenient and less pig-pigheadedly in favor of the dj than other policies I had seen elsewhere. This being the case, it is actually intended to be more of a psychological tool for me sales-wise than a clause to protect my interests, though it does that just fine.
It protects me my assuring that I get paid something for what I may have invested in an event to any given date. The mere fact that I take/require a 50% deposit for all gigs regardless of type, size, time of year, etc. shows them up-front I'm not messing around and that they better not be either. The higher a deposit you require the less likely they are going to be to "flake" as the date closes in. Many people would have no qualms about kissing off a $100 "retainer." But a 50% deposit on a total wedding bill of $950 or more? NOW you're weeding out the phonies and fakes!
I've only had to use this clause once when a bride had to reschedule a wedding. Because she lost 100% of all monies paid to all of her other vendors for the original date (I'm not saying they are "wrong" for doing this - their policies are their policies, and she agreed to them knowingly or not at first) she was grateful that I was "more reasonable" (just more lenient) than the others, and I told her that while I wouldn't refund her deposit for the original date (which she originally wanted) or make her pay the amount due (which legally I could have), I would put the deposit paid towards her new date. She was fine with it, I didn't end up turning away other potential clients for her date, and everyone won in the end!
It was an instance where trading in good-will was more beneficial than bullheadedly falling back on "policy." And it paid off... I got another wedding from it after the fact. They may have moved on to book that date again, or they may not have. So while they may well have stayed at home that night all full of themselves enjoying a full paycheck for a job they didn't even do, they alienated a client and kissed-off a potential landfall of referral business and great word of mouth.
Of course this is yet another one of those issues where we will all see things as black and white leaning one way depending on which side of the part-time/full-time fence we occupy, and depending on how much traffic we turn away for any given date.
A full-timer and or someone who turns away a good number of dates because they're booked will be more likely to adhere more strictly to a harder policy.
Not a matter of "right" or "wrong," just what works for someone in their given situation.
I have been thinking over the last year or so I might revise my cancellation policy above, but not because of any real compelling arguments here or otherwise - just to make it a bit more in-line with that full-time/higher-volume direction I mentioned above.
).... since the wallet is open, maybe it encourages a gratuity if I did a good job. 
