What is a completion guarantor and do I need to budget for one?
A completion guarantor is a form of insurance provided to investors, guaranteeing that the film will be completed. The completion guarantor guarantees to the financiers of a film, or a distributor who has advanced money prior to delivery, that the film will be completed and delivered by a given date to its principal investors in accordance with the relevant distribution agreements. An agreement will be drawn up between the completion guarantor and the production company under which the completion guarantor will be allowed to take over the production in certain specified circumstances. Screen Australia requires a completion guarantor on its feature production and TV series investments and many broadcasters and other investors also insist on it. Producers are advised to budget for a completion guarantee. You will need to contact a completion guarantor to obtain a quote. They will need to see a copy of your budget in order to determine this. A listing of Australian completion guarantors c