Hello - It's my first time introducing myself on Stage32. I'm Co-Founder of Guaranteed Completions - a new Germany-based Risk Management company for Film & TV Completion Bonds. I'm looking forward to connecting with you. Feel free to ask all the questions you have about Completion Bonds. We see many Producers who not yet have a grasp on how a Completion Bond works. Happy to lift the veil a bit.
Introduce Yourself : Ask me all your Completion Bond questions you never knew you had. by Boris Grönemeyer
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Hey Boris, great to have you here and glad you introduced yourself! Since you are Germany based are there any differences between German completion bonds vs. US completion bonds? And, how do state-funded projects work with completion bonds in Germany?
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Hey Amanda, Great question. The basic mechanics of a Completion Bond are the same around the world. The goal is to deliver On Time and On Budget. Actually we do cover all types of international productions with a host of different originating countries. The key difference is that we are very used to productions having 3,4,5 or more co-production partners and 10-15-20 financial elements, including various funds, grants and incentives in combination. Many of those funds have their own rules, which have to be integrated into the multifaceted projects. E.g. the Netherlands require a Completion Bond for everything over 2.5M€, when state funds are involved, Germany doesn't allow for a Contingency higher than 7/7.5% in those cases - and there is much more. Nonetheless - it keeps it interesting.
Thanks for the info - great to know. We have a lot of members in Germany and I was just curious from your perspective.
Great to have you here Boris! The completion bond is such a huge part of independent financing that very few filmmakers are aware of. Your knowledge on the subject is greatly appreciated.
Hi, Boris! No Bond questions yet (maybe in the future), but connection request sent!
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Whoa. Wait a sec. You're an industry professional who's willing to answer questions? For free? jaw drops