I'm entering a software contest in which the winner will be awarded a sum of money. However, part of the qualifications for winning is that the winner can demonstrate the ability to be able to afford supporting their software independently for a reasonable amount of time.

What I would love to be able to do is promise the contest organizers that if they choose my solution, I would dedicate a fraction of the prize money to maintaining the software. Obviously, however, I'm afraid they won't believe me and that will hurt my chances. Could I set aside some money somewhere that they can have access to the balance and hold me to my promise? Or, is this a crazy idea and I just need to gain their trust in other ways?

  • 3
    why don't you ask the contest organizers how to prove your financial means
    – CQM
    Oct 14 '12 at 16:23
  • There is a difference between giving someone permission to view the balance in your account so that the person with permission can verify that (at least as of the time of viewing the balance), the balance in the account is indeed what you claim it is, and giving someone access to the balance in the sense that the person with access can withdraw all or part of the balance from the account without telling you in advance. Which permission do you want to give? Oct 14 '12 at 16:48
  • How does showing you have money in an account prove you will be spending it on supporting the software?
    – JohnFx
    Oct 14 '12 at 17:10
  • 2
    I think JohnFx is on the right path here. You need to show your entire budget, expenses and incomes. Be ready with the statements from all the accounts if the contest doesn't take your word for it.
    – MrChrister
    Oct 14 '12 at 17:44
  • @ DilipSarwate I would say that I want to give access to view the transactions occurring on the account, so that they could know if I didn't keep my word. @ JohnFx That is an excellent point. I think I would actually have to show the transactions as well to prove that. @ CQM They asked for me to describe how I would support the software, and I thought this might be an extra way to show that I would be able to. Although now that I think about the question, maybe this won't help all that much and I should give them my word that I would allocate enough funds and leave it at that. Oct 14 '12 at 20:43

If the money awarded is sufficient to cover the cost of supporting their software, then you can at the time of entering the contract make a pledge of the money.

However if you need to prove that you have sufficient funds otherwise, you need to ask the organizers what they need, typically a Bank Statement showing the funds may be sufficient in the easiest possible condition, on the other extreme you may need to open an escrow account and deposit the money as safe keeping with the Bank and then produce that letter ...

Depending on the country and Bank, certain Banks allow different passowrds for transactions and different for querying, so you can share the query password ...

  • I think this is a good answer, thank you. The amount awarded should be able to cover what I need to support the software. So, I will pledge a certain amount towards that purpose and they will have to believe I will stick to that. I probably won't propose any solution in which I have to share passwords, since they wouldn't ask for that otherwise. Oct 15 '12 at 17:26

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