Film Development Fund scheme for financing film production

Contractual arrangements
 

1.

If an Application is successful, an offer letter will be sent to the successful applicant setting out the amount of Government Finance to be offered and the general terms and conditions of the proposed grant of Government Finance (the Offer Conditions). The successful Applicant will be required to sign and return the offer letter to the Government within the period specified therein. Sample of the offer letter is appended below:

  PDF Offer Letter
     
 

2.

Upon acceptance of the offer, the applicant is required to fulfill the Offer Conditions within the set period before execution of financing contracts. The Offer Conditions include the incorporation of a new film production company in Hong Kong (ProdCo) to receive the Government finance; the submission of the services agreements and supplementary agreements with main film crew and cast to prove the ownership of all the intellectual property rights of the film: submission of the undertaking and declaration made by ProdCo, and deed of assignment between the successful applicant and the new film production company. Samples of the relevant documents are appended below:

  PDF First Amendment among the main film crew/cast, the agent of the main film crew/cast (as appropriate) and the successful applicant/ProdCo
  PDF Undertaking & Declaration
  PDF Deed of Assignment
     
 

3.

Upon satisfactory fulfillment of the Offer Conditions, the Government will consider executing the financing contracts with ProdCo, and executing ancillary agreement with ProdCo and other related parties (including sales agent, other financier(s) and the collection agent as appropriate). Samples of the relevant documents are appended below:

  PDF (i) Production Finance Agreement
  PDF (ii) Master Definitions Schedule
  PDF (iii) Inter-party Agreement
  PDF (iv) Government Charge
  PDF (v) Laboratory Pledgeholder’s Agreement
  PDF (vi) Collection Account Management Agreement
     
     

Notes

  • If applicants are in any doubt about the contents of the sample documents, they should consult their legal advisers or other professional advisers.