We offer a Monitoring Service Agreement which is a cost-effective solution and could be the preferred option when a completion bond is not required. The service will give the investor comfort as we are monitoring the project – with the same care and due diligence as if it would be a completion bond.
A Monitoring Service Agreement is offered to feature films, TV series as well as animation productions.
We are a highly experienced team and are offering our services worldwide. We work under flexible conditions, in all time zones, meeting the demands of the production as well as the investors.
Before issuing a Monitoring Service Agreement we make sure that the project is fully financed, or will be fully financed. We will meet with the key crew and review the key production documents to see if all of our requirements for issuing a Monitoring Service Agreement are in place.
We shall implement strict cost control and monitoring procedure (which will be daily during key phases of the production), ensuring that each step of the production process is adhered to, particularly in relation to expenses being within budget and time consumption being within the production schedule.
During critical phases of the production, we will send reports to the investor providing an overview of the production status. The report is based on our observations as the monitor and conversations with the producer.
The monitoring process is implemented across all stages of production through to acceptance of delivery of the project by the sales agent, distributors, and other recipients.
In the event that we consider there is a risk that the production may go over budget or fall substantially behind schedule, we may implement the procedures as per the Monitoring Service Agreement by giving written notice to the Producer and informing the investors.
The control process regarding investors´ payments into the production account can include that these amounts may be held on an account controlled by Crone Film (controlled means that our signature is required for drawdowns to the production account).
1 Due Diligence
Before issuing a Letter of Intent, we do a risk assessment of the project which involves reviewing the budget, finance plan, production timeline, script and key crew. If we, at this stage, find the project well structured, we will issue the Letter of Intent.
2 Monitoring Service Agreement
We will draft an agreement between the Producer, the Investors and us, setting out the terms for each party´s obligations in relation to the production and each other. Producer´s- and Director´s Undertakings are also part of the agreement.
3 Monitoring During Production
During all phases from pre to post we will monitor the progress closely and implement a strict cost report control.
Should any issues occur we will take an active part in resolving these and, if needed, notify the Investors.
We will follow the delivery diligently and upon delivery we shall send out notices to all relevant parties. In case of any objections we shall monitor the process in accordance with the Delivery Procedure attached to the Monitoring Service Agreement.
We have a high level of expertise and know-how on film and TV productions and are aware of the fact that different kinds of productions need different types of solutions in regard to Monitoring Services.
The team at Crone Film International has been involved in more than 250 bonds for films and TV series.
Crone Film International has provided monitoring services to some of the largest completion bond companies in the world and is now offering completion bond and monitoring services in its own name to the film and TV industry worldwide.
We have Production Executives in Sweden, England, and in Denmark where we are based.
Nina Crone, CEO and Production Executive, Denmark Hans Lönnerheden, Production Executive, Sweden Simon Bosanquet, Production Executive, England Lise-LotteDøcker, Legal Consultant Mette Bang, Admin & IT
Crone Film is authorised and registered by the Danish Financial Supervisory Authorities to carry out its business.
As a registered company at “Finanstilsynet”, we must meet a number of requirements e.g. to our professional qualifications and our integrity.
We are compliant with applicable laws and regulations and have procedures and control systems in place for the benefit of our clients. These procedures and control systems include but are not limited to GDPR, due diligence, risk assessment, reporting, and a secure IT and backup system.