The client receives an invoice showing the total advance
deposits and fees. The client wires funds to Meeting Escrow
that are held in a segregated bank account in the currency in
which funds are to be paid to the supplier-partner.
An integrated foreign exchange service ensures a cost-eŸec-
tive conversion of originating funds. Lastly, the supplier-part-
ner receives international wire transfers for deposit payments
on the exact dates indicated by the contract.
So far, the company oŸers US dollar, Canadian dollar and
Euro segregated accounts with more to follow as clients require.
Pricing for the service is based on a combination of a ˜xed
monthly or annual maintenance fee plus a per program fee
charged as a percentage of the total deposits being protected.
Helen van Dongen, CMP, CMM, principal of The Meeting
Works based in Hamilton, says the industry is rife with hor-
ror stories of absconded funds. "This idea makes total sense,
even though you get assurances from trusted sources, Meeting
Escrow is basically an insurance policy that ensures that event
funds are going to the right person at the right time for your
program."
Katherine Wright, CMP, CMM, of The Wright Solution Event
Management Inc., based in Toronto, agrees. "If I pay 100 per
cent up-front for a program, what is my recourse if something
goes wrong? Whether I'm paying the bill or my client is, this
service would at least signal that I've done my due diligence."
Meeting Escrow is backed by $5 million in liability coverage
through Lloyds/Special Risk and Royal Sun Alliance (RSA).
For more information visit meetingescrow.com
incentive
travel
report
Works based in Hamilton, says the industry is rife with hor-
ror stories of absconded funds. "This idea makes total sense,
even though you get assurances from trusted sources, Meeting
Escrow is basically an insurance policy that ensures that event
funds are going to the right person at the right time for your
Katherine Wright, CMP, CMM, of The Wright Solution Event
Management Inc., based in Toronto, agrees. "If I pay 100 per
