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International Congress and Convention Association #ICCAWorld iccaworld.org

Financial models for meetings: Escrow protection, guarantees and pre-financing; subvention funds and more!

55th ICCA Congress



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55th ICCA Congress



Grant Snider, DMCPPresident & CEOMeeting Escrow [email protected]

http://www.meetingescrow.com/

mailto:[email protected]



Eric BakermansMarketing Manager, Meetings & ConventionsNetherlands Board of Tourism & Conventions


Business “Must Haves”


Business “Nice to Haves”


Subventions & Incentives



Malaysia



Seoul



Glasgow


Financing & Guarantees

Bid Win

Funding Gap

Revenues



1. Self financing

2. Professional Congress Organizer (PCO)

3. Alternative financing


Escrow Protection


PCO Spring 2016

REGISTRATION FEES OF 7 ASSOCIATIONS WERE ON A SEPARATE BANKACCOUNT REGISTERED BY A SEPARATE FOUNDATION

FIRST CONGRESS WAS TO START ON MAY 1ST, 2016


CURATOR/TRUSTEE OF BANKRUPT PCO DID NOT GIVE IN

1 OF 2 BOARDMEMBERS OF SEPARATE FOUNDATION STEPPED DOWN, LEAVING ONE BOARDMEMBER IN CHARGE…

BEING THE FORMER OWNER OF BANKRUPT PCO


LAYWER OF ONE OF ASSOCIATIONS SEIZED THE ACCOUNT OF FOUNDATION’S BANK ACCOUNT

NBTC WAS ASKED TO STEP IN AND TAKE OVER BANK ACCOUNT OF THE FOUNDATION

INSURANCE SAID:


LAWYERS THEN RELIEVED SEIZURE OF BANKACCOUNT AND FILED FOR BANKRUPTCY


ENTER A NEW CURATOR OF BANKRUPT FOUNDATION

FIRST CONFERENCE STARTED. VENUE AND NEW PCO TOOK OVER AT OWN RISK


CURATOR DIVIDED REST OF 7 ACCOUNTS AFTER DEDUCTION OF OWN COSTST


Escrow Protection


Escrow Protection

Business Failure

Change of control or ownership

Commingling

Funds

Global political & economic

uncertainty

Performance Risk

High level of pass-through

costs

Few barriers to

entry

Lack ofregulations

Foreign exchange downside

risk


Escrow Protection

Client deposits are mixed with general operating funds and other client funds in supplier bank accounts.

Supplier Operating Funds

Client B Deposit Funds

Client A Deposit Funds

CommingledFunds


Escrow Protection


We thank you for joining us

Tina Altieri, Maxcommunicate Eric Bakermans, Netherlands Tourist Board

of Tourism & Conventions Grant Snider, Meeting Escrow Inc.

[email protected]

http://www.meetingescrow.com/


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