| Commentary

330 Completion guarantor’s security arrangements

| Commentary

330 Completion guarantor’s security arrangements

A completion guarantor will normally require to enter into a security agreement with a producer to obtain a commitment from the producer to pay to the guarantor the fee, and also to obtain the various assurances and ancillary documentation required to enable the guarantor to take over production if the need arises. The ancillary documentation will include a takeover letter giving the guarantor rights over the production account, individual acknowledgements from the individual producer and director of the film, an undertaking from any third party distributor who is not a beneficiary of the completion guarantee

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