Film Completion Bond

Motion Pictures are Completed and Delivered with a Film Completion Bond

Film Completion Bond  Making a movie is a massive business, raking in hundreds of billions of dollars each year. Think of the success of the film ‘Titanic’ which won 11 Academy Awards. To make such an epic film cost a fortune because part of the costs went into building a partial replica of the ship. In fact the costs surrounding the movie cost more than the real ship all those decades ago.

You can see why a Film Production Completion Bond is so important, because it is a guarantee that a film will be completed on time, within budget and delivered on schedule. These insurers are looking out for the interests of the investor or bank; those who have a financial link and interest in the outcome of the production of the movie.

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Endless Costs Involved with Film Production

Making a movie is in no way just a matter of getting the best actors and actresses together in a certain location and filming them, there is far more to it. Salaries need to be paid to the stars as well as the producer and directors, there are the production costs, special effects costs and much more. Even when the movie is complete, there are other costs involved like marketing and advertising the movie. You can just imagine the enormous financial loss if the production of a film is abandoned. The amount of any money invested in the making of the film will need to be re-payed.

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Insurers who Understand the Entire Film Industry

A film production completion bond company or insurer like MontRidge always have staff who are totally clued up on the people they insure, and to this end they understand all the ins and outs of film production, they know all about contingent cash reserves and shooting scripts; nothing escapes them; they keep right at the top of the filming industry, know full well what all the costs are in the production of a movie and the massive financial losses should the movie be abandoned.

While most of the Hollywood Studios produce movies which are self guaranteed, the independently financed films, even those released by the leading studios, require a completion guaranty.
When money is invested in an independent film production, the financier will certainly want some kind of a guarantee that the movie will indeed be completed in time and more or less within budget.

The Film Completion Bond Company Makes the most Suitable Choices

A Film Production Completion Bond company checks out that in the event that the filming team is not complying with the terms of the contract, they can take over things and see that the movie is completed. They request the production- and cost reports, and under the bond agreement, the bond company may literally take over the completion of the film. In the event that production of the movie does not continue, the bond company will settle all outstanding amounts with the financier.

Unforeseen Catastrophes are Efficiently Handled

A film completion bond company first assesses a number of things to determine the risk of taking on this kind of liability. Things like the experience of the producer as well as the director’s track record are a few things they will look at.
Film production completion bonds are critical in the entertainment industry, simply because of the sheer enormity of the costs connected to making a major motion picture.

There are many things that can put a film producer’s money in jeopardy. For all those unforeseen catastrophes that could put a halt on production, a trustworthy and dependable  film completion bond company like MontRidge ensures that investors are not losers who stand to lose all the funds they invested into a project. With their skills and experience they ensure everyone is a winner even when it has been decided not to see a film through to its completion.  A film completion bond is a must.

Related Links:

Entertainment Insurance Brokers
Film Production Insurance
Non-Appearance Insurance

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