3rd Party Solutions
3rd Party Meeting, Incentive, Conference & Event Management Companies
No matter what type of 3rd party company you work for, we have a solution that will save you and your clients time and money and eliminate risk. In addition, signing on your clients generates annual commission revenue for your company.
We work with all types of 3rd Party Companies
Association Management Companies (AMC)
Professional Congress Organizers (PCO)
Meeting & Incentive Travel Companies
Independent Meeting Planners
Marketing/Advertising Agencies that plan meetings & events
Corporate Travel Agencies that plan meetings & events
We work with all types of financial arrangements
Management fee & your client pays all vendors directly
Management fee & 3rd party pays all vendors
Markup on costs (fixed or variable percentage) & 3rd party pays all vendors
1) Single Vendor Payment Solution
2) Foreign Currency Budget Protection
3) Advance Deposit Escrow
4) VAT tax recovery for out-of-country programs
5) Event insurance
How do 3rd Party Companies work with Meeting Escrow?
If there is interest in working with Meeting Escrow, typically the senior company leadership, in consultation with legal/financial, decides to sign on as a client (and pay the annual fee) and / or introduce the company's clients who sign on (and pay the annual fee) or a mix of both.
Once Meeting Escrow is approved as a vendor of record, we open a main trust account for receipt of funds from the 3rd Party, and separate trust accounts for each of your clients and each of their programs. Program trust accounts can be set up in 20 different currencies so that funds can be exchanged and held in the correct currency, eliminating risk to your client's budget due to exchange rate fluctuations.
Meeting Escrow is introduced to vendors (hotels, DMCs, and other providers) at the RFP stage with the stipulation that you would like all advance deposits held in escrow until the program begins. This reduces risk.
Meeting Escrow pays all vendors on your (or your clients) behalf from the trust accounts set up for their respective programs.
Meeting Escrow can also coordinate VAT tax recovery, obtain completed foreign vendor tax forms (example W-8BEN forms for US companies working with hotels and other vendors out of the country), and provide event insurance recommendations. These services are provided on a complimentary basis.
All Meeting Escrow clients pay an annual trustee fee whether we are supporting 1 program or 100 programs per year, payable monthly or annually, in addition to a per-transaction fee. The transaction fee is calculated as a percentage of the funds deposited in trust, payable only in the year funds are deposited with Meeting Escrow. And while the funds are held in trust, clients earn interest credit (USD/CAD accounts),
Are Meeting Escrow Fees Commissionable?
Yes, any referral your provide that leads to any organization (whether your client or not) signing on with Meeting Escrow generates a 3-year trailing commission on their annual fee at no cost to the client.