Bette smith created the completion bond company in 1981. The newest film, spectre, was released in october 2015. Unifi completion guarantors film and tv bond company. A completion bond is a specialized filming insurance product that is used to insure a production. While some movie insurers offer cast insurance in case a big star becomes ill or gets in an accident, completion bond ensures the films financial. Bond must defeat a private banker funding terrorists in a highstakes game of poker at casino royale, montenegro. Contact us for a no obligation film production completion bond insurance quote today. In general, a completion bond guaranty assures banks and financiers that. We supply a strong and supportive bespoke completion guarantee service to our clients, without risk of conflict of interest, relevant to the changing times in the film and television industries.
Completion bond, along with rival film finances, based in britain, are the hertz and avis of the movie completion insurance business, splitting about 90% of the domestic completion guarantee business. The completion guarantor will complete and deliver the film in keeping with such preapproved screenplay and production schedule, and advance such sums in excess of the preapproved budget necessary to do so. The completion guarantor is responsible to pay your financiers and investors the sum of the funds they have advanced if your film or television production is not completed and delivered to distributors in accordance with the terms of the completion bond. Film production completion bond is a written contract that guarantees a motion picture will be finished and delivered on schedule and within budget. It is at this stage that the bank will require a completion bond to be executed to provide them with the. He has been portrayed on film by the actors sean connery, david niven, george lazenby, roger moore, timothy dalton, pierce brosnan and daniel craig, in twentysix productions. Jan 04, 20 prosights completion bond underwriters have film production experience and are able to look into the script, film crew, and film schedule, and sit with directors and producers to make sure the. A completion guarantee sometimes referred to as a completion bond is a form of insurance offered by a completion guarantor company in return for a percentage fee based on the budget that is often used in independently financed films to guarantee that the producer will complete and deliver the film based on an agreed script, cast and budget to the distributor s thereby triggering the payment of minimum distribution guarantees to the producer but received by the bankinvestor who has. If you want to enquire about a bond or if you would like to learn more about our. Under the producer agreement portion of the completion guarantee, the producer. Completion bond means with respect to any picture, a completion bond, in form and substance satisfactory to the agent, issued by an approved completion guarantor, which bond i names the agent for the benefit of the agent, the issuing bank and the lenders as a beneficiary thereof to the extent of the applicable credit partys financial interest in such picture and ii guarantees, subject. Film finances was founded in 1950, when producers of motion pictures. In all, we have guaranteed nearly 6,000 feature films, television series, documentaries and streaming productions.
A completion guarantee is a form of insurance offered by a completion guarantor company that is often used in independently financed films to guarantee that the producer will complete and deliver the film based. Mar 15, 2017 the parties to the completion bond agreement are typically the developerowner, the financiers, the completion guarantor company and the contractor. Singapore completion guarantee company film finances inc. These external investors require a completion bond to hedge their investment. Beginning with sean connery, and going through george lazenby, roger moore, timothy dalton, pierce brosnan and daniel craig. Apr 20, 2020 when film and tv crews go back to work, they will face a world where working sick is not a point of pride and the safety nets are diy.
Company in the fulltime business of providing a completion guarantee carrying demonstrable reinsurance coverage. Bond tracks down their killer, hector gonzales, and must complete his work before melina takes her revenge. The completion guarantee does not go into effect until all the financing is in place. The completion guarantee paterson james is a 100% independently owned uk company. A completion guarantee sometimes referred to as a completion bond is a form of insurance offered by a completion guarantor company in return for a percentage fee based on the budget that is often used in independently financed films to guarantee that the producer will complete and deliver the film based on an agreed script, cast and budget. To ensure that a film production is actually completed and delivered on time and within budget, the film normally has to be financed using what is known as a completion bond. Efb provides completion guarantees bonds to film and tv producers. As international man of mystery, as guru of gadgets and espionage thrills, and as the agent who never encountered a boundary country, or personal space he couldnt sneak across. Apr 09, 2018 the exec has years of experience in the sector and calls media guarantors a better kind of completion bond company focused on offering the highest level of singular service.
Lloyds syndicate prosight launches innovative independent. It provides protection if the contractor runs out of money or any other budgetary issues. The complete 23 film collection with skyfall bluray no enhanced packaging. A completion bond is a contract that guarantees monetary compensation if a given project is not finished. Completion bond definition in the cambridge english dictionary. For independently financed films, investors often want the film to have a completion bond before they are willing to invest in the film. Bond is sent to retrieve the atac before the russians do. The completion bond definition is that its a surety bond guaranteeing a project will be completed according to the terms of the contract. Unifi is a boutique completion bond company that brings the single best service experience to global producers and investors of independent film, television. A completion guarantee is a useful way to guarantee that the project will be realized. Protection acquired or offered by a completion guarantor that guarantees. Completion bond meaning in the cambridge english dictionary. Since 1962, james bond has been the spy whose reputation precedes him.
Completion bonder tekla morgan, who has insured the sean pennjohn travolta starrer. As independent film and local productions continue to cater for a growing audience, the need for an insurer who understands everything that goes on behind the scenes has become a necessity to success. It is designed to protect a person or company that has a financial interest in a film for example, investors, a bank or a film distributor for the completion of the film. Unifi completion guarantors film and tv bond company faq. A motion picture completion guaranty is a written contract that guarantees a motion picture will be finished and delivered on schedule and within budget. Completion bond garantiert fertigstellung des films. The bond guarantees that the film will be completed provided that all the budgeted funds, including the contingency, are in place. Completion surety bonds are primarily used in the construction industry, but are also used in the film production and video game production industries.
If the bank requires one, a completion bond can be provided to give the lender the required level of security against the risk of nondelivery of the project by the developer or owner. The complete list of official james bond films, made by eon productions. Film finances has given completion guarantees to all leading banks in the entertainment industry, major film studios and distributors. A completion bond is a specialized insurance policy generally required by independent film productions as a guarantee to investors, banks or film distributors against financial loss in the event the film is not completed on time, on budget or as originally conceived. Completion bonds are actually worthless to the film company producing the film and to any equity investors, since in a worst case, the completion guarantor will just make a horrible film that will. A completion guarantee sometimes referred to as a completion bond is a form of insurance offered by a completion guarantor company in return for a percentage fee based on the budget that is often used in independently financed films to guarantee that the producer will complete and deliver the film based on an agreed script, cast and budget to the distributors thereby triggering the. Completion bond financial definition of completion bond. Given the high costs of filmmaking, film producers are reliant on financial backers. Have you ever wondered how many james bond movies there are. Unifi is a boutique completion bond company that brings the single best service experience to global producers and investors of independent film, television, and new media productions. Completion bond firm media guarantors launches under fred. Jun 07, 2011 the bond concept may face resistance from new chinese film investors.
Other documents involved in creating a completion bond include. Many important movie productions would never have been screened without the assistance of a completion bond. A financial contract that insures a given project will be completed even if the producer runs out of money, or any measure of financial or other impediment occurs during the. Film production completion bond allen financial insurance group. Unifibondsunifi completion guarantors film and tv bond company. Al l the films but two were made by eon productions. Contact us completion guarantors with worldwide experience. Completion guarantors with worldwide experience and knowledge. A producer usually secures a completion bond guaranty for the benefit of the bank or other financiers who agree to make the necessary production funding. Sep 25, 2019 completion bonds are contractual agreements whereby producers pay a fee to completion guarantors, who issue a guarantee that the film will be completed in accordance with the script and delivered on schedule to distributors. A completion bond is a surety bond that guarantees a project will be. Picture information defines the scope and details of your production, including items such as title, type of film live action or animation, for example, language or languages, genre, total budget, expected schedule, postproduction calendar and other details.
Perhaps youre a lender who provides loans to construction workers. If you have an invested interest in a film, you need cover with an insurer who plays a leading role in the industry. A completion bond is a specialized insurance policy generally required by independent film productions as a guarantee to investors, banks or film. We provide financiers with a service that gives them an assurance that the film will be.
A fidelity bond posted by a contractor or developer to guarantee that a particular project will be completed according to plans and specifications,on time,and without any liens incurred as a result of unpaid bills to subcontractors and suppliers. A completion guarantee is an important tool to minimize financial risk for lenders. The producers completing and delivering the film in accordance with the screenplay, budget and schedule. In australia, first australian completion bond company, established in 1991, is a leading player and has bonded films including tracks, snowtown, the sapphires and animal kingdom. After earning 00 status and a licence to kill, secret agent james bond sets out on his first mission as 007. The majority of films produced and fully financed by the major hollywood studios are, in effect, selfguaranteed. Completion bond legal definition of completion bond by law. Bond is a british secret agent working for mi6 who also answers to his codename, 007. Its used for construction projects, but many companies want a completion bond for film or video game projects too. With itoos film completion bond you are assured of. Completion agreement agreement made as of the film finances. A completion bond is a surety bond that guarantees a project will be completed ontime, within budget, and free of liens.
Daniel craig, eva green, judi dench, jeffrey wright. He has been portrayed on f ilm by the actors sean connery, david niven, george lazenby, roger moore, timothy dalton, pierce brosnan, and daniel craig, in twentyseven productions. All 26 james bond movies ranked by tomatometer bond movies ranked by tomatometer. Film finances has more than 60 years of experience in working with completion bonds.
Bon d is a british secret agent working for mi6 who also answers to his codename, 007. This surety is based on a risk analysis, whether the film can be completed within budget and on schedule. Mi6 had sent archaeologist timothy havelock to discretely locate the ship, but he and his wife were murdered in front of their daughter melina. Us payment and performance bonds vs completion bonds. Aug 11, 1991 two companies dominate the completion bond business. Jun 23, 2019 completion bonds are actually worthless to the film company producing the film and to any equity investors, since in a worst case, the completion guarantor will just make a horrible film that will.