Client Solution Case Studies

Client Case Studies

SPONSORSHIP SOLUTIONS

ICCA and strategic sponsor partner, BestCities Global Alliance engaged Meeting Escrow as the designated escrow partner for the Incredible Impacts Awards Programme.

ADVANCE DEPOSIT ESCROW PROTECTION

Our client experienced first-hand the risks involved with paying advance deposits when their supplier in a resort location closed its doors just days before their corporate event was to start.

FOREIGN CURRENCY BUDGET PROTECTION

Exchange rates vary constantly, especially in today’s volatile political and economic climate, and if an organization’s home currency is lower than the destination currency on the day a deposit is due to be paid, the results can be costly.

COVID-19-SPECIFIC ESCROW PROTECTION

There has been a significant uptake in our escrow services during COVID-19. Clients with financial risk priorities are reassured by the fact that their advance deposits are held in escrow trust accounts. Learn how this solution worked seamlessly for our client's rescheduled events.

Industry Risk Case Studies

US MOTIVATION BANKRUPTCY

According to news reports, USMotivation sent its employees home and closed operations without warning on a Friday afternoon in February 2017. No company, no matter how large, is immune to business failure.

THOMAS COOK BANKRUPTCY

According to news reports, Thomas Cook, the 178-year-old British travel company and airline, declared bankruptcy on a Monday morning in September 2019, suspending operations and leaving hundreds of thousands of travelers stranded worldwide

GEP / KRISAM GROUP BANKRUPTCY

In October 2013, according to news reports, GEP initially closed its 7 owned Destination Management Company (DMC) offices, and later the GEP DMC representation network and Krisam Group hotel representation companies, taking with it significant client advance deposits and supplier payments owing.

BAHA MAR HOTEL BANKRUPTCY

By April 2016, construction for the Baha Mar three-hotel resort complex was halted for nearly one-year following an investor's Chapter 11 bankruptcy. The resort did finally opened, with only one-hotel, the Grand Hyatt. Paying advance deposits on a not-yet-built asset involves considerable financial risk.

CONGREX PCO BANKRUPTCY

Because of Congrex's size, as one of the largest PCOs in the world, clients were reassured and had no reason to request financial guarantees for their deposits. According to news reports, Congrex filed for bankruptcy taking with it significant client advance deposits and supplier payments owing.

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Jean-Paul de Lavison, President

JPdL

From a DMC perspective, working with Meeting Escrow is fantastic. All client payments arrive on time and are proactively managed by their team. They even reimburse the wire transfer fees!

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Joe Orecchio, President

Road Ahead Meetings & Events

Meeting Escrow is the most secure transparent payment solution available to the Meeting & Incentive industry.

Suzanne Reid, Senior Manager, National Accounts Canada

MC&A, Inc.

Meeting Escrow is a professional service that is easy and efficient to use. Risk management of funds at its finest. Deposits and payments made securely and simply.

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Paul Vallee, Managing Director

BestCities Global Alliance

As sponsor of the Incredible Impacts program, we had complete confidence with our funds being held in trust by Meeting Escrow. The award payment process was perfectly executed.