Completion Bond FAQ

From initial approach to bond issuance typically takes two to three months. The main variable is how quickly the producer provides complete documentation. Incomplete submissions are the most common cause of delays.

Six to nine months before principal photography is ideal. This allows adequate time for thorough due diligence without compressing the timeline.

A production-ready script, detailed budget and cashflow plan, complete production schedule, signed key personnel contracts, all financing documentation, distribution agreements, incentive confirmations, and proof of complementary insurance coverage.

To an extent. If the producer provides a complete documentation package upfront and the production has a straightforward structure, due diligence can be faster. However, there is a minimum time required to properly assess a production, and we will not compromise on thoroughness.

We do not publish acceptance rates, but we are selective. More than half of initial enquiries do not proceed to full due diligence, typically because the budget is unrealistic, the financing is not confirmed, or the production plan has fundamental issues.

If the cost overrun exceeds the approved contingency, the guarantor funds the additional costs necessary to complete the production. The guarantor works with the production team to minimise the overrun while ensuring the production can be delivered.

This depends on the circumstances and the insurance in place. Cast insurance (part of FPI) covers financial losses from key cast illness, injury, or death. The completion bond guarantor works with the production team to find solutions, which may include script adjustments, schedule changes, or recasting.

The guarantor has the right to replace the director if the director's continued involvement jeopardises the production's completion. This is an intervention of last resort. In practice, most director-related issues are resolved through discussion and adjustment.

Yes. The guarantor has the right to replace the producer if necessary to protect the completion of the production. Like director replacement, this is a last resort.

During principal photography: daily call sheets and shooting reports, weekly cost reports, and one to two on-set visits. During pre-production and post-production: regular status reports and milestone tracking.

Film Production Indemnity (FPI) covers specific named perils: weather damage, equipment failure, cast illness, negative and faulty stock. The completion bond guarantees the overall completion and delivery of the production, which FPI does not. If a named peril causes a cost overrun that threatens completion, the bond picks up where FPI leaves off.

Errors and Omissions insurance covers legal claims related to the content of the production, including defamation, copyright infringement, and privacy violations. It has nothing to do with whether the production is completed or delivered on time. Both are required, but they cover entirely different risks.

The completion bond guarantees that the production will be completed and delivered. Media obligation insurance guarantees that the lender will be paid after delivery. They cover different risks at different stages and are designed to complement each other. See our Media Obligation Insurance FAQ for detailed questions about payment risk coverage.

No. Complementary insurance, including FPI, general liability, and E&O, must be confirmed before the bond can be issued. The bond does not replace other insurance; it provides an additional layer of protection that other insurance does not offer.