AN ALTERNATIVE SOLUTION TO THE SAG BOND
The first financial solution for the thousands of independent feature film productions
BondIt is the first financial solution for the thousands of independent feature film productions that are required to pay union surety bonds. By gapping the union bond & interfacing directly with the union - BondIt provides clients with their two most valuable resources when producing a project - time & money. Use it for SAG, DGA, WGA, IATSE & others - BondIt frees up your cash flow and relieves your headache.
Producing a film is challenging enough. Losing large chunks of your precious equity and dealing with union bureaucracy only creates additional hurdles for a producer. BondIt is a clean and efficient solution - we gap your bond and interface with the union so you don't have to!
What are “entertainment surety bonds?”
Entertainment surety bonds are deposits that independent producers must pay to unions in order for the respective union to clear them for production. The bonds are typically calculated at 2/3rd of the overall payroll amount for the production’s union workers.
Doesn’t my payroll deposit count as my SAG bond?
No. That’s precisely the issue. SAG requires the SAG bond amount ON TOP OF your upfront deposit that you pay to your payroll provider. Therefore you are temporarily “double-paying” your entire payroll amount.
Won’t I get my SAG deposit back?
Yes….eventually. Unions process thousands of productions per year - it often takes up to 120+ days AFTER production is complete to get your bond back. This inevitably creates severe cash ﬂow issues; delays post production, distribution deadlines, festival submissions. You get the idea…
Why should I trust BondIt?
BondIt was founded by industry producers who recognized a problem with no solution. Our mission is to assist filmmakers and facilitate easier production. We've formed a partnership with industry leader ABS Entertainment Payroll Services to provide additional reliability and a more streamlined accounting process for ease of communication.
Visit our web-site for more information: bondit.us
t. 203 305-9034
t. 203 586-9604