Swiss company Crédit des Alpes launches online film voucher department to reduce costs (EXCLUSIVE)

Photo of author

By theusabulletin.com

Courtesy Tatatu
Courtesy Tatatu
Swiss investment firm Crédit des Alpes has introduced a new film financing division known as The Film Bond. This division provides an online tool that claims to reduce the standard costs associated with completion bonds that are typically required by most independent producers to kickstart their projects. A completion bond serves as a guarantee that a film’s production will be finished within the set timeframe and budget. In case a movie exceeds its schedule or budget, the completion bonder steps in to either complete the film or decide to halt production and reimburse the investors. The majority of independent films rely on a bond to commence production. The recently created Crédit des Alpes Film Bond unit specializes in offering affordable financing for independent films through self-completion bonds. These bonds are linked to an online banking platform that encompasses all the key stakeholders involved in a movie, starting from pre-production to post-production. The Film Bond platform enables all partners in a film – including producers, sales agents, and distributors – to access the financial details of a film right from the beginning and track the progress of production. Additionally, the platform facilitates payments to various parties involved in the film. Ifé Adebajo, The Film Bond’s VP of U.K. and Europe, described the tool as a unique central piece of technology. Adebajo emphasized that The Film Bond essentially acts as a guarantor, offering a different approach compared to traditional completion bond insurance, which can be as high as 13% of a film’s budget. Instead, The Film Bond only charges 1% of the film’s budget and acts as a guarantor in a differentiated area that positions them more as a partner. This approach combines financial expertise and support within a single entity. Jonny Boston, The Film Bond’s VP of U.S. and other regions outside of the U.K., highlighted that the division provides new and innovative guarantor solutions to the global filmmaking industry, streamlining the process and making it more cost-effective and collaborative.

Leave a Comment