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Completion Bonding |
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Completion bonding Insurance that a construction contract will be completed successfully. Completion Bonding A loan guarantee that a project will be paid for even if it is abandoned. Producers or publishers will make this guarantee to a bank in order to secure loans to finance their projects. Completion bonding benefits the bank as it guarantees that its loan will be paid. It also benefits the producer or publisher as the loan generally does not become payable until the project is completed, improving his/her accounting position. Finally, it benefits the person who actually develops a given project as the producer or publisher is discouraged from suddenly terminating that project. This form of financing is common to the video game and film industries. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Independent films especially need completion bonding, because without the backing of a major studio, independent producers need to guarantee they will have the financial means to complete a film, Completion bonding simply guarantees that a film will be finished. |
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