Why Meeting Escrow?

  1. Annually, the business events industry represents $27B+ in economic spending in Canada, $270B+ in the USA and $500B+ globally. While the majority of clients are large organizations, the majority of supplier-partners are small and medium-sized businesses.
  2. Supplier-partners in the meetings industry generally have a high level of pass-through costs that inflate the size of the advance deposits required. Clients want to hold on to those funds as long as possible for safekeeping; supplier-partners (whether 3rd party meeting/incentive companies or DMCs or hotels) need the confidence they will have the funds when needed and spend an inordinate amount of time and effort pursuing deposit payments.
  3. Our research indicates that the majority of clients believe their supplier-partners place advance deposits in separate trust accounts for safekeeping. In fact, most companies mix or “commingle” advance deposits with general operating funds. 
  4. Remarkably, there are virtually no regulations in place to govern the handling of advance deposits the way we are used to with the purchase of a home or the retaining of legal counsel.

Finally, there is a solution.

Meeting Escrow gives clients the confidence to pay all or most of their advance deposit requirements up front with full confidence that funds are held securely and only released to the supplier-partner based on the deposit schedule.

Supplier-partners have the assurance that deposits have been collected in advance and no longer have to chase after payments; clients no longer have to worry about the loss of their organization’s money in advance of the program.

Meeting Escrow is backed by $5Million E&O (Errors & Ommisions) liability coverage through Lloyds / Special Risk, $5Million Commercial General Liability through Royal Sun Alliance, $1Million cyber liability through Lloyds/CFC Underwriting and a $1Million bond through The Guarantee Company of North America. 
 

 

 
  • ADMEI
  • AMEI
  • FICP
  • ICCA
  • SITE
140 Yonge Street, Toronto, Ontario, M5C 1X6 Canada
Main +1 647-494-3356   Fax +1 647-499-5683  Toll-Free North America +1 800-824-5135  
info@meetingescrow.com
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