Password Protect a Hard Drive

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OK, I'm new here and need advice on a very specific issue that might sound a bit strange.

I'm a graphic designer who has recently parted ways with a client. I've suggested that in return for payment on a final invoice, I would hand over an external HD with all past and present project files. I'm concerned that once I hand over the drive, they might put a stop payment on my check. They are concerned that I won't put everything on the drive. I've asked for a cashiers check; they are balking.

I'm wondering if there is a way to protect myself by password protecting the drive, only handing over the password once their check has cleared?

I should add that the client is a small IT hardware manufacturer, so I wonder how effective password protection might be?

I'm running OS 10.6.8 and would dump the files to a 1.5TB La Cie drive provided by the client who, would be running this drive off a PC. Any advice or insights would be most appreciated.
 
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Simply tell them due to copyright the hand over will take place when payment is cleared.
 

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