What is proper etiquette when making a toast?

Call the attention of the assemblage to order . Choose the appropriate salutation
[ Congratulations, Best Wishes, Bon Voyage etc ] name the person you are toasting , mention the specific reason for the toast, [ new baby , moving , taking a trip ] and declare your sentiments. Do NOT insist the person toasted got up and make a speech. If they choose to remain at their seat , and just rise and thank the assemblage, that is sufficient .