Deal Memo Template 03
Deal Memo Template 03
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Unless previously agreed, editor shall NOT be required to provide Technology/ compatibility. Customer is advised that video
producer/ production services to research stock footage, produce technology changes almost daily, many released before they’ve
or coordinate shooting operations, estimate talent / licensing been debugged. These changes can affect workflow and time.
payment and usage or produce other elements necessary for edit.
Billing-‐ Payment:
Use for Demo & Project Clone: Unlimited and irrevocable license
use for editor demonstration / reel is hereby granted for any Billing is done in advance per booking then additional fees
work edited. Regarding SAG/Aftra licensing, those clips will be invoiced weekly. Payments are due within 14 calendar days of
used, but not available to public on world wide web, only the invoice date. For longer projects invoice date will be the date
accessible by users issued login and password to view. when the work started.
Permission is granted for editor to make and maintain a clone of Delivery of final masters, project archive may be held until after
the entire project file and media at editor’s discretion. final payment received.
Editor shall not reuse, sell, distribute any customer provide media Any or all flat rates, discount rates will be void if customer
and agrees to keep any copies secure on editor owned local hard becomes past due, resulting in a new invoice recalculated at
drives at all times. standard rates for editing, services, and markup. 30 day net will
only be available for projects billed at the standard rate, overtime,
Customer owned systems: If editor determines customer and markup. Accounts are turned over to an attorney, or sold to
owned system is not suitable to complete work necessary, editor collection agency, for collection if the account becomes 30 days
shall not be required to work on such and project shall be done past due.
on editor’s system.
Collection: Attorney Collection fees. Should the balance due not
The following are considered part of normal editorial services: be paid as agreed, or account becomes past due, customer shall
pay all legal fees associated with the collection of outstanding
• Editing video from storyboards, provided balances.
footage, scripts, or themes,
• Making revisions as requested by producer or Non Disclosure: Editor agrees in advance to treat all information
producer’s client and work done for this project, while in production, as
• Conforming video for other finishing processing -‐ confidential. Editor reserves right to reference customer as a
color, sound. work reference and will credit customer when demos of work
• Laying in built animation sequences from different done are shown to others by producer.
sources.
• Conforming digital media from different codecs for use
• Ingesting existing media Additional Provisions:
• Basic compositing
• Ingesting customer provided media
• Suitable audio mix as available within editing software.