o begin, we will need to know some general information about you and your film or television series. Contact us at the earliest stages of the financing process once your script, budget, and shooting schedule are available, even if those elements are still being finalized. Please call us directly or, if you prefer, send us your Picture Information
Next, unless we already know you and your financing sources, we will ask you to furnish proof of your funding commitments. Proof of funds (POF) typically takes the form of a summary describing each financier and investor that has committed to advance production funds, the amount of and, if applicable, any pre-conditions (e.g., script or cast approval, completing pre-sales) to its funding commitment, together with a fully signed copy of a term-sheet, commitment letter or funding agreement. We do not require all production funds to be on deposit. We simply want proof that you have secured the funding commitments needed to fully cover all budgeted production costs.
After we accept your POF, we will ask you to submit your key production elements (i.e., screenplay or episodic teleplay(s), budget, shooting schedule, post-production calendar, and cash flow schedule if available) to our Production Department, and all relevant financing, investment, production, and distribution contracts to our Business Affairs Department. Whenever possible, we will assign the same executives to manage your account to promote trust, communication, cooperation, and expediency.
ur Production staff will review your key production elements and any additional Production Information
they may request. We not judging the artistic value of your film or television series, or whether it will likely meet with critical or commercial success. We will review your production plan, the persons responsible for executing the plan, and the adequacy of your budget and shooting schedule given the scope of your script. We will take into account the locations, time frames, experience of key crew members, the individual producer, and the director; all to ensure the production plan is reasonable and viable, and that the resources (personnel, time, and money) that will be made available to you will be adequate for you to produce, complete and deliver your production as contemplated. The Production Department’s evaluation usually takes about one week to complete.
Next, our Production staff will arrange to meet with your production team members (which may include the individual Producer(s), Director, Line Producer, UPM, Production Accountant, and department heads) to solicit their ideas and opinions on the budget and schedule including any unusual or challenging conditions. We will exchange recommendations for any warranted adjustments if we believe the level of the crew’s experience and skill, the duration of photography or post-production, or the budgeted costs of production are insufficient. We know unforeseeable events may befall even the best-managed productions. However, during this stage, our mission is to make sure that the production team will have sufficient resources and is thoroughly prepared to manage any anticipated challenges before cameras begin to roll.
At the same time as our Production staff is evaluating your production elements, our in-house Business Affairs staff will evaluate your legal rights and obligations under the relevant financing, investment, production, and distribution contracts. This usually takes about one week to complete.
If we are confident that your production team has the experience, expertise, and skill, and you have secured the contractual rights and financial resources needed to produce, complete, and deliver your film or television series on schedule and budget, then we will “underwrite” your project. This is an internal process during which we approve your submission and undertake to provide a completion bond subject to legal documentation.
nce we underwrite your production, our in-house Business Affairs staff will ask you to furnish your Legal Information
and we will begin to prepare and negotiate the Completion Guaranty
, Completion Agreement
, and other related legal documents including the Director’s Undertaking
, Completion Guarantor’s Power of Attorney
, Producer’s Power of Attorney
and Copyright Mortgage and Assignment
. You will also need to furnish (or have your insurance broker-agent furnish) proof that you have obtained the Basic Insurance Coverages
The legal counsel representing each of your financiers or investors will prepare their respective Funding Agreements and collateral assignments or charges. Typically the legal counsel representing your principal financier or investor will prepare Interparty Agreements, Intercreditor Agreements, Notices of Assignment, Letters of Credit, Laboratory Control Agreements, and Deposit Account Control Agreements, as may be applicable. Whenever practical, we will use pre-negotiated contracts to help streamline and expedite the legal documentation process.
nce a completion bond is issued, we will monitor the progress of production from the start of photography through post-production, completion, and delivery by checking call sheets, wrap reports, production reports, and cost reports
We recognize every production is different and some may require greater service and support than others.
We will adjust the level of our involvement as it is needed or requested. Our staff has encountered a wide variety of production difficulties. We recognize the routine rigors of production without overreacting or feeling the need to intervene. If complications should arise, we approach each challenge with level heads and practical, collaborative solutions.
e have expertise and experience in fulfilling the traditional delivery and distribution requirements for films and television series. Upon completion of post-production, we will work together with your internal or external post-production supervisor
to ensure all bonded delivery materials are properly manufactured and made available to distributors.
If necessary, we will assist you in correcting and resubmitting any missing or defective materials. In most cases, we and your distributors will agree to resolve any delivery disputes by binding, expedited arbitration.
ur completion bonds are issued by an admitted carrier
through one of Intact’s highly-rated and financially strong
subsidiary insurance companies that takes full responsibility to adjust all claims and pay 100% of covered losses
. Accordingly, your financiers and investors, (1) should only need to confirm Intact’s excellent financial strength rating and avoid the need to pore over the financial strength ratings of numerous insurance and reinsurance companies, and (2) will not have to separately resolve and enforce claims through multiple actions, in various jurisdictions, against multiple reinsurers, which is often a prerequisite to any loss recoveries when dealing with competing bond companies. Furthermore, Intact has a dedicated claims department
with the expertise and experience to investigate and resolve any claim that may arise. They will provide the forms, instructions, and assistance needed to process any claim. The UniFi team will provide its collective expertise, knowledge, and experience to help to ensure every claim is properly adjusted and quickly paid.
UniFi’s re/insurance structure is designed to give you and your financiers and investors extreme legal and financial protection and security.