One of the most crucial parts of the process is examining the contract once you've settled on a production business with which to partner for your video needs. Surprises or specifics can lead to a slew of issues down the road, so double-check the language. Although corporate video production is typically simple, there are a few contract specifics to remember, like payment conditions, deliverables, and timelines.

1. Payment Terms:

For video work, most production companies want a 50% payment upfront, especially for larger projects where the production company enters into its contracts with a variety of other independent contractors to complete the job. Because video production businesses aren't banks, they won't agree to no money down as a policy, therefore they'd have to tap into company savings if they didn't receive a 50% deposit to cover their costs. Furthermore, if a corporation decides to terminate the contract and not pay the final payment for creative reasons, the production company will have gathered enough money to cover the majority of the costs.

Payments may be split into more than two instalments for larger video productions. Payments of 25% upfront, 25% on the day of production, 25% more upon delivery of a rough cut, and the final 25% upon final mastering may be made for a large production. Conditions differ from company to company, but most production companies are prepared to work with clients to come up with terms that make sense and protect both sides. Buyer cautious if a business demands 100% payment upfront. Wal-Mart does not sell T-shirts. You lose any power in the process if the production business fails to produce what they promised if you pay the production company in full.

2. What are Deliverables:

The contract should indicate which final pieces and in what formats are supplied to the client. You might want the video production company to give all RAW footage as well as the final master file if you're a company commissioning a video. If you decide to make more adjustments a year later, you risk having your firm hold you hostage. Perhaps you want to make a minor change to the video, but the corporation tells you that any editing will cost you $1,500, even if it takes two hours. You can explore elsewhere for your editing needs now that you have all of the RAW footage.

The editing file itself, whether it's a Final Cut Pro, Premiere, or Avid file, is a source of disagreement. Many production businesses may be hesitant to provide editing files to clients, partly because the edit files may contain proprietary information that they don't want to share with other companies. However, as the client, the RAW footage should be yours. It's a red flag if the producing business refuses. When you're paying the bill, why should the production firm own your company footage?

Any attempt to prevent the customer from getting access to their RAW film must be motivated by a desire to prohibit the client from fleeing. Top production businesses keep their clients by providing excellent customer service and high-quality work, not by kidnapping footage and demanding a ransom.

3. Timeframe for Production:

Many customers place a high value on the delivery timeframe. If you're making a video for a product launch, a trade fair, or a new location, you have a deadline to meet. Set goals along the route and make sure the production business promises to produce on time. For example, if you need a video by September 1, make sure it shoots no later than August 1, allowing for a few weeks of rough editing, then a few weeks of editing remarks and modifications before final delivery. Keep in mind that, depending on the intricacy of the project, video production can take anywhere from 8 to 12 weeks. If you need a film sooner, many companies can do so in 4-6 weeks, but you may have to pay a rush fee as the company tries to squeeze your job in between other projects.

4. Copyrights: 

Finally, the majority of production businesses will request that the videos they produce to be used for promotional purposes. Most clients don't object if their products and services are promoted on the production company's website, YouTube channel, or Facebook page unless the video is top secret or internal. After all, most corporate videos are made for promotional purposes, so it's no big deal if they show in additional places; it might even help the client's SEO efforts. Production businesses thrive as a business by showcasing high-quality videos, so don't be concerned if your video is promoted by them unless you have a specific concern.

Film District UK is an award-winning and creative film and video production company in the UK. The company started operations in Dubai and Mumbai in 2010. Film District UK is a Video Production Company that specializes in video production, film production, corporate video production, promotional video production, commercial and music video production, live event video streaming, live event video production, virtual event video production, social media video production, testimonial video production and animated explainer video production.