We are excited to announce the launch of our Secure Vendor Program, a global listing of suppliers who have signed on to accept the escrow of client advance deposits.
The COVID-19 pandemic has been disastrous for the global MICE (Business Events) industry and heightened client insecurity about placing deposits with suppliers to guarantee future reservations.
Clients are updating their RFPs to expand Force Majeure applicability and provide maximum flexibility for rebooking in case of future outbreaks. Coupled with this is an increased focus on financial risk management and for many, the requirement that advance deposits be held in escrow.
The Secure Vendor Program allows the most financially secure hotels, venues, DMCs, agencies and other suppliers who accept our escrow solution to:
overcome client insecurity re: signing contracts and paying deposits
change the conversation surrounding client negative experiences trying to declare Force Majeure and receive refunds during this crisis
build future pipeline of business
provide flexibility for clients during future waves of COVID or other pandemics
gain security in the case of client default
gain competitive advantage
Suppliers – for more information and to join the program for a nominal monthly fee, click here.
If you would like a Meeting Escrow representative to contact you, please click here