Industry trade association GSMA released compensation information tied to the cancellation of its flagship MWC Barcelona 2020 event due to the ongoing COVID-19 virus outbreak that is focused on ensuring the event will continue despite the one-year hiatus.

Individual attendees will receive a full refund on their tickets through their original payment method. That move follows models set by most events that have had to cancel or alter their plans due to the virus.

MWC Barcelona exhibitors that spent up to $5,800 can have that full amount refunded or receive a 125% credit to future events over a three-year period. That would include a 65% fee credit for next year’s event, a 35% fee credit for the 2022 event, and a 25% fee credit for the 2023 event.

Exhibitors that spent more than approximately $5,800 can have up to half of their fees refunded, though capped to a maximum of around $175,000. Or they can also take the 125% cumulative fee credit paid out over the next three MWC Barcelona events.

GSMA is also adjusting its planned rates for next year’s event to align with what it charged for the 2019 event.

And as part of the compensation information, GSMA also threw in this awkward legal note: “Our plan to provide this goodwill gesture is not an admission of any liability, and the GSMA stands behind the decision it took to cancel MWC Barcelona 2020. It was the only option at the time, as has been made clear by subsequent events.”

GSMA canceled the event Feb. 12, just weeks ahead of the event’s planned Feb. 24 start. The move came after a number of the event’s larger exhibitors announced that they were not going to attend due to coronavirus concerns.

This would have been Barcelona’s 15th consecutive year holding the event, and the cancellation has been estimated to cost the city about $500 million in economic activity. The show was expected to meet or exceed the 109,000 attendees it hosted at last year’s event.

The compensation structure also protects what is GSMA’s main source of income for this year and starts to solidify future show plans.

“It is a recognition that, without attendees, exhibitors, and sponsors, there wouldn’t be MWC Barcelona,” the organization noted in a statement. “The GSMA thanks its colleagues in the industry for their continued support. The approach seeks to ensure a long-term relationship with the whole MWC ecosystem for the years to come and has been created to give everyone the best possible opportunity to return for MWC Barcelona 2021.”

Analysts agreed that the structure should preserve what is GSMA’s largest revenue-generating event.

“Top of mind is the costs associated and the future discounted credit of 125% over 3 years locks in those companies who are going to attend anyway,” noted William Ho, principal analyst at 556 Ventures. “Those companies can plan for any other trade show expenses or bring more personnel,” adding that “the capping with the larger companies help retain some of the revenue intake, which limits GSMA monetary liabilities in 2020.”

Roger Entner, founder and lead analyst at Recon Analytics, concurred on the financial planning. “I think it is a good offer and gives companies the flexibility of prioritizing short-term liquidity and long-term savings,” he said.