Completion Bond
A guarantee to investors that a film, TV, or animation production will be completed and delivered on time, within budget, and to specification, or their money back.
A Completion Bond is a guarantee to investors that a film, TV, or animation production will be finished and delivered: on time, within budget, and to specification. If the production cannot be completed, the investors get their money back.
A Completion Bond is the only product in the entertainment industry that guarantees completion. Production insurance covers named perils. E&O covers legal claims. Currency hedging covers exchange rate risk. None of these guarantee the production will actually be delivered. The Completion Bond does.
On Time
Delivered to the agreed schedule
Within Budget
No overruns passed to investors
To Specification
Meets the agreed technical standard
The Problem
Why Productions Need a Completion Bond
Investors commit capital 12 to 24 months before a finished production generates any return. During that window, the production can go over budget, run over schedule, fail to meet specifications, or be abandoned entirely. Without a completion bond, a failed production means total loss for everyone who financed it.
The Gap No Other Product Fills
Film Production Indemnity covers named perils. E&O covers legal claims. Currency hedging covers exchange rate risk. Media Obligation Insurance covers non-payment after delivery. None of them guarantee the production will be completed. The completion bond is the only product that fills this gap.
How It Works
Four Layers of Protection
Guaranteed Delivery
The production will be completed and delivered according to the agreed script, budget, and schedule.
Production Takeover
If the production is at serious risk, the guarantor has the right to take over management to ensure completion.
Excess Cost Financing
If the production goes over budget, the guarantor covers the overrun costs required to finish and deliver.
Financial Repayment
If the production cannot be completed despite intervention, the guarantor repays the investors' committed funds.
€4M–€30M
Budget range
All-inclusive
One-time premium
Up to €50M
Select cases
AA–
S&P rating (Munich RE)
Feature Films
Up to €30M
TV Series
Up to €5M per episode
Animation
Up to €30M
Documentaries
From €4M
Geographic scope: Production companies in the EU and UK. Beneficiaries and financiers from all non-sanctioned countries. See full coverage details →
The Process
From Application to Delivery
Initial Approach
Contact Intectus with your production details. We assess feasibility and confirm whether the production is likely to be bondable.
Due Diligence
Our specialists review the script, budget, schedule, financing, contracts, key personnel, and technology across all four disciplines.
Underwriting
Based on the due diligence findings, the bond terms are structured and issued through the capacity provider.
Active Monitoring
Throughout production, we monitor progress via call sheets, cost reports, set visits, and regular status calls.
Delivery Confirmation
The bond remains in effect until all contractual deliverables have been provided and accepted.
Timeline
Two to three months from initial approach to bond issuance, depending on the completeness of production documentation.
Requirements
Bonding requires a production-ready script, confirmed financing, a detailed budget with cashflow plan, signed key contracts, and complementary insurance coverage.
Our Expertise
Active Risk Management
Our role does not end when the bond is in place. We bring deep specialist experience across four disciplines to every bonded production.
Production
Our production executives have supervised hundreds of productions. They understand production realities and identify issues before they become crises.
Technology
We assess technical and digital risks using modern workflows, ensuring productions deliver on their technical commitments.
Legal
Our legal team reviews all contracts, distribution agreements, and incentive structures to ensure they are enforceable.
Financial Controlling
Our financial team analyses budgets, monitors cashflow, and verifies the production's financial plan is realistic and sustainable.
Safety Net
Intervention Rights
If a production faces serious difficulties, the guarantor has contractual rights to intervene. These rights exist to protect the investors and are exercised only when necessary.
Giving direction to the production team
Enforcing existing contracts
Hiring or replacing personnel
Replacing the director
Replacing the producer
Taking over production management entirely
The goal is always to complete the production, not to disrupt it.
Benefits
Who Benefits
For Investors and Financiers
Investment protection
Money-back guarantee if the production cannot be completed.
Independent due diligence
Thorough vetting of the production by specialist assessors.
Aligned partners
All production partners aligned around realistic budgets and schedules.
Guaranteed delivery
The finished production will be delivered to the agreed standard.
For Producers
Enhanced credibility
Demonstrates independent validation to investors and financiers.
Risk identification
Issues identified early, before they escalate during production.
Production expertise
A partner who works to solve problems, not just flag them.
Full transparency
Complete transparency throughout the bonding and production process.
Insurance Backing
100% Munich RE Cover
The Completion Bond is issued through Lloyd's Syndicate 5306, which is 100% reinsured by Munich RE. No cut-through required. The full cover comes from a single hand with no co-insurers and no layered risk.
Intectus is not the risk carrier. We are the risk management expertise: we perform the due diligence, monitor the production, and manage the risk on behalf of Munich RE.
| Fronting | Lloyd's Munich RE Syndicate 5306 |
|---|---|
| Reinsurance | Munich RE, 100% cover, no cut-through required |
| Risk Management | Intectus Risk Solutions (not a risk carrier) |
| Solvency II Ratio | 289% |
| Founded | 1880 |
| Media Experience | 70+ years Film Production Indemnity · 40+ years international FPI · 35+ years Completion Bonds |
Frequently Asked Questions
What is a completion bond?
A financial guarantee that a production will be finished and delivered on schedule and on budget. If it cannot be completed, the bond repays the investors' committed funds.
How much does a completion bond cost?
A one-time, all-inclusive premium based on the production. Due diligence, legal review, and monitoring are all included. There are no additional charges. Contact us for a quote.
How long does the process take?
Two to three months from initial approach to bond issuance, depending on how complete the production documentation is at the time of application.
Is the completion bond the same as production insurance?
No. Production insurance (FPI) covers specific perils like weather or cast illness. The completion bond guarantees overall delivery of the finished production, which no insurance policy does.
These are a few of the most common questions. For the full list covering costs, process, requirements, coverage, and more: See all 30+ completion bond FAQs →
Get Started
Ready to discuss a completion bond for your production? Here is what happens next:
Step 1
Contact our lead placing broker, Lilley Plummer (LP Risks), who coordinates all completion bond placements. You can also reach us through the contact page.
Step 2
We assess your production for feasibility and confirm whether bonding is likely available.
Step 3
You receive an initial response within 48 to 72 hours.