Immediately after an inquiry is made to issue a Contract, we request the script, the shooting schedule and the budget. We prefer that all three documents have already been approved by the financiers and distributors of the picture. In some cases, we are prepared to consider these documents prior to such stage. These three documents are examined in detail. In most cases FFI then moves to the next stage, which is meeting with any and all relevant personnel whose views on the project are deemed helpful. On the basis of these views and explanations, along with the papers submitted, we decide whether the project presented is feasible. When a positive decision is made, a “letter of intent” is issued by us confirming that we are prepared to go forward with issuing a Contract of Completion, subject to the fulfillment of certain stated conditions. Most conditions are considered standard and apply to such things as financing, personnel, insurance, and location agreements. The letter of intent will also list a number of budget items for which we are not responsible.
These above-mentioned conditions are incorporated in an undertaking required of the producers. The letter of intent specifies our fee for a Contract issuance.