Written by Rosalind McKenna for Solaire PitchUp Creator Centre · Last updated: September 2026
A completion bond is a contract under which a specialist completion guarantor protects financiers if a film cannot be completed and delivered according to the agreed budget, schedule and specification. It protects the people financing the production; it does not guarantee commercial success.
UniFi Completion Guarantors explains that the bond can protect production costs advanced by financiers if a properly funded production is not completed and delivered as required. It does not guarantee that investors will earn a return.
Arrange completion protection during financing and before principal photography. A lender, investor or distributor may make a completion guarantee a condition of closing finance.
The process can begin earlier with a letter of interest. UniFi says producers can submit basic picture information and request a letter indicating that the company is willing to consider bonding the project, subject to underwriting. That can help demonstrate to prospective financiers that completion protection may be available.
Completion guarantees come from specialist guarantors rather than ordinary production insurers. Film Finances Inc., founded in 1950, operates internationally and provides completion guarantees for film, television, mini-series and streaming productions. UniFi Completion Guarantors is another specialist provider.
Film Finances' history gives a useful example. After the troubled, over-budget productions of Apocalypse Now and One from the Heart, studios were reluctant to work with Francis Ford Coppola. Film Finances subsequently guaranteed The Outsiders and Rumble Fish, helping Coppola return to production under tighter delivery discipline.
Be concise and factual. State the production company, format, budget, proposed start date, shooting location, financing status and what you need.
A sensible first approach is:
We are financing an independent feature with a production budget of €X, scheduled to begin principal photography on X date in X location. We would like to know whether the production is eligible for a completion guarantee and what information you require for an initial assessment.
Film Finances' current enquiry form asks for the company name, budget amount, start date, location and project information.
Expect substantial due diligence. UniFi says that after initial project information it normally requires proof of committed financing, followed by the approved screenplay, detailed budget, cash-flow schedule, shooting schedule, post-production calendar and production locations. It also reviews production information, legal documents and insurance cover.
The guarantor is testing whether the script, money, schedule and people are mutually credible. Film Finances likewise evaluates the script, budget, schedule and key personnel before moving into legal documentation and monitoring.
There is no universal fee. UniFi says pricing is determined project by project using factors including budget size, completeness of the budget and schedule, locations, production-team experience, action, visual effects and other production risks.
As an industry reference, WIPO research has reported initial completion-guarantee fees around 5–6 per cent of production budget, sometimes lower, with part potentially rebated when the guarantee is not called. Obtain a current project-specific quote rather than building a finance plan around a generic percentage.
A bondable production must persuade the guarantor that it can realistically be completed for the proposed budget and schedule. Experienced production leadership, credible financing, appropriate contingency, realistic locations, adequate insurance and an achievable post-production plan all matter.
The guarantor may require budget, schedule, personnel or contractual changes before accepting the risk. That scrutiny is part of the protection financiers are buying.
The guarantor continues monitoring the film. Film Finances requires regular production reporting and weekly cost updates, with oversight continuing into post-production. UniFi similarly requires daily production information and periodic cost reports.
The completion agreement can give the guarantor significant intervention rights. Film Finances' sample documentation refers to take-over rights and other remedies; UniFi says its agreement permits it to take control of management when necessary to ensure completion and delivery.
Usually, completion guarantees are arranged before production risk has crystallised. If the film is already over budget or has run out of money, the immediate problem is more likely to be finishing finance, restructuring or a verified cost-to-complete.
A producer in that position should solve the existing deficit first rather than assume a guarantor can retrospectively insure a known loss.
Why overruns happen, who controls the budget, how contingency works and what investors should ask before production.
A practical guide to cost-to-complete, finishing finance, approaching investors and rebuilding confidence after an overage.
Written by Rosalind McKenna for Solaire PitchUp Creator Centre
Last updated: September 2026
What Is a Film Completion Bond and How Do I Get One?