Motion Picture Lock Agreement

If you're a struggling filmmaker trying to make your movie on a shoestring budget, try the deferred compensation approach.

• This Deferred Compensation Agreement is between the producer, investors and other stakeholders in the motion picture.
• The Agreement outlines the cast, crew, budget, and production schedule of the film.
• The Agreement breaks down how revenues received by the producer from the film will be applied: first, to payment of outstanding payables, secondly to repaying the investors, and then to the other principal stakeholders.
• A Deferred Compensation Agreement allows you to reduce your upfront costs during production of the film by deferring payment until the film is generating revenues.

Secure financing for your film project by delivering this Film Completion Agreement to the guarantor underwriting completion and delivery of the picture.

Guarantor's Right of Recoupment

The guarantor has the right to recoup any secured sums from gross receipts of the film, subject to the prior rights of the financier under the Financing Agreement, and subject to any prior rights of the distributors and the screen actor's guild.

Completion Guaranty

In return for payment of the guarantor's fee by the producer, the guarantor agrees to issue a completion guaranty to the financier.

Schedules Included

This Film Completion Agreement template includes:

1. a set of standard terms,
2. warranties and representations of the producer, and
3. provisions with respect to the insurance cover that must be obtained by the producer.

Format and Scope of Agreement

The Film Completion Agreement is available in MS Word format. It is customizable and reusable, making it both cost-effective and flexible for your needs.

This is a generic legal contract form which can be used in both Canada and the United States, and can be adapted for use in other jurisdictions.

Issue a letter of credit for a loan to fund the production of a motion picture with this template Letter of Credit for Film Production.

• The Letter of Credit (LOC) sets out the procedure the filmmaker must follow to make a draw against the production loan funds.
• The LOC will be effective for a specified number of days following the commencement of principal photography, and may be renewed and extended for an additional period if required.
• The LOC is irrevocable.
• The form also includes a letter to be signed by the completion guarantors confirming delivery of the film and/or digital materials.
• Available in MS Word format. Fully customizable.