A motion picture completion guarantee, or bond, is a written contract that guarantees that the motion picture will be finished and delivered on schedule and within budget. Films produced by the major Hollywood studios are self-bonded as the films are produced in-house. However most independently financed films, including many that are released and distributed by the major studios, require a completion guarantee.
MMWL goes beyond to arrange a completion guarantee on behalf of a producer of up coming film to be given to banks or financers. Through our full range of resources and our systematic method for arranging completion guarantees, we are able to play a key role in bringing films to the screen.
First, we assist to evaluate a prospective project for a completion guarantee by reviewing specific key elements, including:
- Shooting locations
- Shooting schedule
- Resumes of key personnel
- Production financing commitments
Next, we usually meet with the production personnel whose ideas and opinions can help us better understand certain aspects of the production. At these meetings we also check the backgrounds and capabilities of the production team members.
All the information gathered about the personnel as well as about the project makes us decide if we can proceed to bond the project as presented.
If it is acceptable to us and to the representative of the guarantor, we ask the producer to furnish us with certain required contracts and other documents for our review and approval and out in-house legal staff begins preparing the completion guarantee and related legal documents.
Other services we are able to provide include:
- Recommending key production personnel.
- Preparing or approving legal documents, including delivery schedules, security documents, notices of availability and letters of credit.
- Monitoring the process of production and cost reports.
- Consigning draw down requests and borrowing certificates.
- Meeting with production personnel.
- Dedicating in-house production, production finance, postproduction executives and legal counsel to your film and making them available at all times for consultation and problem solving.
- Providing an on-site representative as needed.
- Preparing or providing consultation regarding postproduction requirements and scheduling.
- Analyzing causes for cost overruns or production delays.
- Distinguished service
- Experienced staff
- Worldwide capabilities
- Exceptional capacity
- Strong financial backing
- Supplemental products