First Payment Due upon acceptance of project: 50% of Total
Second Payment Due upon completion of project: 50% of Total
Article 1: Parties to the Agreement
AGREEMENT as of October 27th, 2021, between Client, and Production Company, for the
production of client's video, in accordance with the terms and conditions specified in
Article 2: Application of the Agreement
Parties shall be bound by the terms and conditions expressly stated in this Agreement.
Any additional terms or conditions not contained in the Agreement must be expressly
agreed to by both parties in the form of a written and signed Amendment to the
Article 3: Additional Services and Overtime
Any work, which the Client desires Production Company to perform, which is not
specified in the Work Specifications, such additional services shall be by separate
agreement between the parties. Our full day rate is based on an 8-10 hour day. After 10
hours overtime will be accrued and invoiced accordingly
Article 4: Ownership and Storage of Video Assets
A. Unless otherwise specified, all rights in the Intellectual Property, including
copyrights, shall initially be owned exclusively by Production Company. Upon final
payment, Production Company shall assign its copyright interest and other
intellectual property rights which have been incorporated into the Final Product in
the form provided as the Final Product to Client, subject to the grant of a license
back to Production Company for its use in creating derivative works for Client and
in the advertising and promotional literature, whether print, web, or video based,
of Production Company and its affiliates and subcontractors.
B. Production Company will delete all project files after 90 days from the date the
project has been completed unless alternate arrangements have been made to
archive the footage for a longer term.
Article 5: Cancellation and Postponement
A cancellation or postponement is defined as a rescheduling of the production to a
later specific date caused or directed by Agency/Client or a total cancellation of the
project. If the Production Company blocks out a specific period of time with the
agreement that it represents a firm commitment from the Contracting Client, then the
Production Company makes no further efforts to sell the time. If the job is canceled or
postponed within the Guideline time frame, it is unlikely that this time can be rebooked. It should be understood that this time represents the Production Company's only source of income.
A. If notice of cancellation/postponement is given to the Producer ONE TO TEN
WORKING DAYS prior to the commencement of the shoot, the Contracting- Client will
be liable to the Production Company for: 1. All out-of-pocket costs. 2. Full production
fee on the job as bid.
B. If notice of cancellation/postponement is given ELEVEN TO FIFTEEN WORKING
DAYS prior to the commencement of the shoot, the Contracting- Client will be liable to
the Production Company for: 1. All out-of-pocket costs. 2. Not less than 50% of
production fee on the job as bid.
C. If notice of cancellation/postponement is given MORE THAN FIFTEEN WORKING
DAYS prior to the commencement of the shoot, the Contracting-Client will be liable to
the Production Company for: 1. All out-of-pocket costs. 2. Not less than 25% of
production fee on the job as bid.
Article 6: Indemnity
Client guarantees to Production Company that all materials provided to Production
Company are in compliance with appropriate copyright laws. The Client agrees to
indemnify and hold harmless Production Company against any and all claims, costs,
and expenses, including attorney's fees, due to materials included in the Work at the
request of the Client for which no copyright permission or previous release was
requested or uses which exceed the uses allowed pursuant to a permission or release.