Chris Lee, DMCP, CEO of ACCESS comments, “Meeting Escrow is a long-overdue financial and risk management solution to challenges the Meetings Industry has been facing for years – how to protect client funds and ensure timely payment to supplier-partners. It provides our clients with 100% transparency and confidence for the advance payments they make to vendors around the world. ACCESS is proud to show its leadership by confirming its acceptance of this new standard of accountability for the industry.”
Grant Snider, Meeting Escrow President & CEO adds, “This is another exciting development for our company. As we expand our range of financial and risk management solutions for the Meetings Industry worldwide, we are proud to see a prestigious Destination Management organization such as ACCESS add their support for a new way of doing business.”
Meeting Escrow was founded by Grant Snider in 2015 to bridge a gap in the marketplace between buyers and sellers of Meetings Industry services. Both parties sign an escrow contract with Meeting Escrow for the total amount to be protected. Funds are wire transferred by the buyer directly to a distinct, uniquely identified Meeting Escrow bank account to the benefit of the supplier-partner and then the individual deposit payments are wire transferred out per the deposit payment schedule in the contract. Client funds are secure and fully protected and supplier-partners are paid on time. In addition, escrowed deposits can be held in US dollars, Euros, Canadian dollars and 17 other foreign currencies, thereby shielding clients from exchange rate fluctuations. Meeting Escrow Inc. holds $5 million in liability coverage, underwritten by Lloyds.
Founded in 1969, ACCESS Destination Services sets the standard for excellence in award-winning destination management services throughout North America and the world. Through global alliances with Pacific World and Amstar, ACCESS serves over 100 destinations throughout 30 countries. With global coverage and local expertise, ACCESS meets client objectives and exceeds expectations for corporate, incentive and association groups.