Active Alerts are unique to Source on Ice. They dynamically compare the requirements of your escrow agreement with activity and events in the online vault such as vendor lodgements. This enables you to check that lodgements are being made regularly and on time. It provides peace of mind to vendors and end-users alike as both can be sure the escrow lodgements are in accordance with the requirements of the escrow agreement.
Active Alerts include a range of helpful services including:
- reminding vendors of lodgements that are due
- signalling to end-users when there are changes to Deposit Materials
- updating both parties to the presence of a Release Alerts or a Release Event
The benefits of Active Alerts include:
- improving the effectiveness of an escrow arrangement
- enhancing communication between vendor and end-user
- reducing business risk by improving compliance with escrow agreements
- reducing the likelihood of a Release Event
- reducing the number of missed or late lodgements
- ensuring your Deposit Materials are protected by escrow agreements for their entire lifecycle.