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www.unifibonds.com 22287 Mulholland Highway, #367
Calabasas, CA (855) (855) We UniFi © 2017 UniFi Completion Guaranty Insurance Solutions, Inc. All Rights Reserved.
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Who We Are UniFi Completion Guarantors (UniFi) was established by Steve Mangel, Michael Levine and Steven Leib to be a boutique completion bond company seeking to build long-lasting relationships with independent film and television producers, financiers and investors. UniFi provides completion bonds (also known as completion guarantees) to guaranty financiers and investors that film, television and new media productions will be completed on schedule and on budget and delivered to principal distributors. The combination of UniFi’s personalized service and support, great financial strength and ratings, outstanding capacity, specialized expertise and experience, worldwide capability and competitive pricing is an unbeatable value. © 2017 UniFi Completion Guaranty Insurance Solutions, Inc. All Rights Reserved.
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UniFi is the general managing underwriter of film and television completion bonds for OneBeacon Insurance Group (OneBeacon). OneBeacon provides insurance solutions for the entertainment industry and other specialty markets. It consistently receives excellent financial strength ratings indicating its outstanding performance and ability to meet its policyholders’ claims. UniFi’s re/insurance support is designed to give producers, financiers and investors the greatest legal and financial protection. Our completion bonds are issued directly from and in the name Atlantic Specialty Insurance Company (ASIC), a multi-state admitted insurance company and one of OneBeacon’s highly-rated, financially strong insurers. ASIC takes responsibility for adjusting and paying 100% of any losses under the completion bond and assumes the credit risk of all its reinsurers, which eliminates the need for cut-through endorsement letters. Go to OneBeacon.com to learn more about the company, its operating entities and financial strength ratings. © 2017 UniFi Completion Guaranty Insurance Solutions, Inc. All Rights Reserved.
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The Executive Team Steve Mangel, President (former President & CEO at IFG) Michael Levine, President of Production (former SVP of Production at IFG) Steven Leib, President of Business Affairs (former Head of Business Affairs at IFG) Beth DePatie, Vice President of Production Finance Max Mangel, Production and Business Affairs Coordinator As a team, UniFi staffers have serviced the completion bonds for several hundreds of film and television productions. UniFi’s staff specializes in physical production, production finance, post-production, visual effects and CGI, distribution and delivery, and business affairs. Though we support productions small and large, we are qualified to assist producers to manage and complete even the most complicated productions. © 2017 UniFi Completion Guaranty Insurance Solutions, Inc. All Rights Reserved.
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Steve Mangel, President
Together with Steven Leib and Michael Levine, Steve Mangel formed UniFi to “provide unrivaled and personalized service offering our customers a new, favorable alternative choice to the larger, conventional bond companies.” Before UniFi, Steve served as President and CEO of International Film Guarantors (IFG) for 15 years, where he was responsible for managing all company operations. Steve has supervised bonding of more than 400 films and television productions with aggregate production budgets exceeding $10 Billion. Prior to IFG, he served 12 years as a senior executive at LIVE Entertainment (LIVE) in charge of business and legal affairs where he also founded and headed its international sales division. As LIVE’s chief dealmaker, Steve structured the financing and production of many high-profile independent films. Before joining LIVE, he was a partner in an entertainment law firm. Steve received his Bachelor of Arts degree from California State University - Northridge and his Juris Doctor degree from the University of Southern California Law Center. © 2017 UniFi Completion Guaranty Insurance Solutions, Inc. All Rights Reserved.
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Michael Levine - President of Production
Michael oversees the evaluation of production elements (script, budget, schedule, key personnel) for every project submission and the monitoring of all the productions UniFi accepts to bond. Michael works closely together with UniFi’s customers and production teams to help ensure their film and television projects are completed and delivered on schedule and on budget. If a production struggles, Michael and his staff will help find practical, collaborative solutions. Before UniFi, Michael was Senior Vice President of Production at International Film Guarantors (IFG) for nine years during which time he participated in evaluating and monitoring more than 200 films. Before joining IFG, Michael served as a Production Executive at Twentieth Century Fox. Michael graduated from New York University with a major in Film and Television Studies. © 2017 UniFi Completion Guaranty Insurance Solutions, Inc. All Rights Reserved.
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Steven Leib - President of Business Affairs
Steven Leib is responsible for verifying the legal rights and obligations of UniFi’s customers and overseeing the preparation and negotiation of the completion bond and related documents. Steven has built strong relationships with and is well-respected by banks, financiers, studios, producers, production service companies, distributors, brokers, insurers, law firms, accounting firms, talent agencies, laboratories, suppliers and more. He is well versed in a variety of production financing structures. Before UniFi, Steven was Head of Business Affairs for International Film Guarantors (IFG) for fifteen years during which time he negotiated completion bonds for over 300 films and directed all business affairs activities. Before joining IFG, Steven worked in business affairs at Artisan Entertainment and Savoy Pictures. © 2017 UniFi Completion Guaranty Insurance Solutions, Inc. All Rights Reserved.
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How We Work Step 1 – Consider: We begin by asking the producer to furnish proof of funds (POF), which typically takes the form of a short summary describing each financier and investor that has committed to advance production funds, the amount of and, if applicable, any pre-conditions (e.g., script or cast approval, completing pre-sales) to any funding commitments, together with a fully-signed copy of a term-sheet or commitment letter. Once POF is accepted, the producer will submit key production elements (i.e., screenplay or teleplay(s), budget, shooting schedule and post-production calendar) to our Production Department, and financing, production and distribution contracts to our Business Affairs Department. Whenever possible, we will assign the same Production and Business Affairs executives to manage your account to help foster trust, communication and expediency. Step 2 – Evaluate: Our production staff will review the key production elements to determine the adequacy of the resources © 2017 UniFi Completion Guaranty Insurance Solutions, Inc. All Rights Reserved.
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(personnel, time and money) that will be made available to the producer.
We will arrange to meet production team members to solicit their ideas and opinions on the budget and schedule including any unusual or challenging conditions. We will exchange recommendations for any warranted adjustments if we believe the level of the crew’s experience and skill, the duration of the shooting or post-production schedule or the budgeted costs of production are insufficient. Our Business Affairs staff will concurrently evaluate the legal rights and obligations of the producer under relevant financing, production and distribution contracts. If we are satisfied the production team has the experience, expertise and skill, and the producer has secured the contractual rights and financing needed to produce, complete and deliver the production with the available resources, then we will © 2017 UniFi Completion Guaranty Insurance Solutions, Inc. All Rights Reserved.
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“underwrite” the project
“underwrite” the project. This is an internal process during which we approve the submission and undertake to issue the completion bond subject to legal documentation. Step 3 – Document: Once we underwrite the production, our in-house Business Affairs staff will start to prepare and negotiate the completion bond and related documents. Sample form agreements are made available on our website. Step 4 – Track: Once the legal documents are fully signed and shooting has begun, we will continue monitoring the progress of production throughout principal photography and post-production and remain available to troubleshoot any difficult or challenging conditions. Step 5 – Deliver: Upon completion of post-production, we will work together with the post-production supervisor to ensure the © 2017 UniFi Completion Guaranty Insurance Solutions, Inc. All Rights Reserved.
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bonded delivery materials are properly manufactured and presented to principal distributors. If necessary, we will assist the producer in correcting and resubmitting any missing or defective items. UniFi and the distributors will agree to resolve any delivery disputes by binding, expedited arbitration. Step 6 – Process: OneBeacon has a dedicated claims department with the expertise and experience to handle any claim that may arise under the completion bond. When needed, we will help get any completion bond claims timely and properly processed, adjusted and paid. © 2017 UniFi Completion Guaranty Insurance Solutions, Inc. All Rights Reserved.
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Completion Guarantor’s Obligations
Complete and deliver production on budget Complete and deliver production to principal distributors by contracted delivery date(s) Complete and deliver production conforming to technical and non-technical specifications including running time, MPAA rating, essential elements (key cast or crew members who must perform in film) Advance completion sums to the extent of budget cost overruns as needed to timely complete and deliver production Properly adjust and pay any claims © 2017 UniFi Completion Guaranty Insurance Solutions, Inc. All Rights Reserved
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Completion Guarantor’s Risks and Exposures
Abandonment Production cannot be completed Advance Completion Sums Production cannot be completed on budget and to ensure timely and proper completion and delivery, Completion Guarantor must advance funds needed to cover cost overruns Late or Defective Delivery Production is not timely or properly delivered to distributors Delivery disputes subject to binding arbitration © 2017 UniFi Completion Guaranty Insurance Solutions, Inc. All Rights Reserved.
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Exclusions & Insurance Coverages
Customary Exclusions Chain of title defects, foreign currency exchange risk, war, nuclear disaster, insurrection and terrorism are not covered by the completion bond Basic Insurance Coverages The Producer is required to obtain errors and omissions; general liability, worker’s compensation, and motion picture production package insurance including coverages for cast, negative and faulty stock, sets and props, hired and non-hired automobiles © 2017 UniFi Completion Guaranty Insurance Solutions, Inc. All Rights Reserved.
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Why Choose UniFi? The following checklist gives you a heads-up on several factors to consider when choosing a bond company. ☐ Is your bond company responsive to your needs? Is it be versatile and able to customize its service and support to meet your unique requirements? ☐ Is your bond company available 24/7 to offer its attention, service and support and troubleshoot any unusual or challenging conditions whenever and wherever they may arise? ☐ Is your bond company an admitted, licensed insurance company? Is it subject to periodic financial examination by regulators to verify it is in good economic standing and has the financial ability to pay policyholders’ claims? Is your bond company subject to insurance laws and regulations. Do the terms and conditions of its completion bond and other agreements comply with insurance laws and regulations? ☐ Are the financiers and investors in your production be placed in direct contractual privity with a financially strong, licensed insurance company? ☐ Does your bond company take responsibility for non-payment by its reinsurers? ☐ Are you able to bring any complaints to the Department of Insurance to handle and help resolve any disputes? ☐ Is your bond company approved by the major production lending banks, financiers and investors? ☐ Does your bond company’s staff have long-standing industry relationships and offer exceptional service and support? Will all your productions be assigned to the same Production and Business Affairs executives to foster communication, trust and expediency? ☐ Does your bond company provide unparalleled service at competitive prices? © 2017 UniFi Completion Guaranty Insurance Solutions, Inc. All Rights Reserved.
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Choosing UniFi will tick all the boxes.
☐ Does your bond company’s staff work as a team enabling you to benefit from their collective knowledge, expertise and experience? Does its Production staff have line producing skill and experience? Does its Business Affairs staff have familiarity with the financing structure for your production? ☐ Does your bond company make the bonding process fast and easy? Does it use existing agreements and documents as precedent to help simplify, streamline and expedite the bonding process? Can it quickly close your financing before your start date? ☐ Does your bond company have the financial strength and capacity to fully protect and secure your film finances? Has its staff previously bonded productions with similar budgets? Do they have the experience, knowledge and skill to assist you in managing and completing even the most challenging scenes and visual effects? ☐ Does your bond company have global reach? Will its staff have the expertise, knowledge and experience to service and support you wherever you decide to shoot and post your production? Will it be able to provide assistance to ensure your production is timely and properly delivered to theatrical, non-theatrical, television and new media distributors throughout the world? ☐ Does your bond company’s staff stay involved and pay attention during production and post-production and not be too busy or pre-occupied handling projects for others? ☐ Is your bond company be proactive and work with you to find sensible, collaborative solutions to production challenges and not overreact or unfairly intervene at the first production snag? ☐ Does your bond company have superior financial strength and ratings? ☐ Do you have access to a dedicated claims department with the expertise and experience to help get any bond claims timely and properly processed, adjusted and paid? Choosing UniFi will tick all the boxes. We offer the most value in terms of combined experience, knowledge, relationships, financial strength and protection, and pricing. © 2017 UniFi Completion Guaranty Insurance Solutions, Inc. All Rights Reserved.
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UniFi Advantages Expert staff including production team with line-producing experience Able to customize service and support to meet each customer’s unique requirements Underwriting and monitoring by well known and respected management team with proven track record of long-term success Exceptional underwriting and loss control expertise Close and long-term relationships with entertainment banks, financiers, investors, law firms, accounting firms, brokers and agents Approved by the major production lending banks, financiers and investors Continuous and diligent production monitoring and oversight with expertise, experience and skill to manage and supervise challenging conditions Able to place bond beneficiaries (policyholders) in direct contractual privity with a financially strong, licensed insurance carrier that takes responsibility for 100% of any bond losses and assumes the credit risk of all its reinsurers, which eliminates the need for cut-through endorsements Supported by OneBeacon, which provides superior financial strength and ratings Outstanding underwriting capacity, which allows bonding film and television productions of all budget sizes International reach; providing service and support wherever principal photography or post occurs and delivering to distributors throughout the world – no territorial barriers Dedicated claims department with the expertise and experience to properly investigate, adjust and settle any claims under the completion bond © 2017 UniFi Completion Guaranty Insurance Solutions, Inc. All Rights Reserved.
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Contact Us There are answers to frequently asked questions on our website. Please contact us if you have any questions, require assistance or need any additional information or documents: Website: Telephone: (855) /(855)WeUniFi Facsimile: (310) Postal Address: UniFi Completion Guarantors 22287 Mulholland Highway, #367 Calabasas, CA © 2017 UniFi Completion Guaranty Insurance Solutions, Inc. All Rights Reserved.
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