Corporate Meetings, Incentives, Conventions & Events
No matter how large or small your company's meeting and event portfolio, whether you meet locally or globally, we have a secure payment solution that will save you time and money and eliminate financial risk.
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 companies work with Meeting Escrow?
If there is interest in working with Meeting Escrow, the senior leader of the meeting / events / conference department will typically reach out to finance and/or legal and/or procurement for review and approval.
Once Meeting Escrow is approved as a vendor of record, we open the main trust account for receipt of funds from your company, and separate trust accounts for each division and program. Program trust accounts can be set up in 20 different currencies so that funds can be exchanged and held in the correct currency so there is no risk to your budget.
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 behalf from the trust accounts set up for the respective programs.
Meeting Escrow can also coordinate VAT tax recovery, complete 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),