When production is completed on a new commercial and the spot is ready to air, the producer provides us with a document called a COMPLETION REPORT. This document is the bible for the commercial and is essential in order to pay talent residuals properly.
A completion report packs a lot of information into just a few pages. Along with showing basic information, like the date and year of production, it shows all the important details: the production house, the director, the post production house, info pertaining to the music track and any specifics regarding talent or music buyouts, or purchased songs and terms of contracts. The completion report also lists all of the performers, their unions, performance categories, and scale rates.
We can’t calculate residual estimates or make residual payments unless this document is filled out accurately. Even though we’ve probably processed session payments to the performers already, we have no way of knowing if all talent contracts are accounted for or if any talent has been edited out of the finished commercial until we review the completion report.
It’s super important we receive this document before a new commercial goes on the air or online. If we don’t then we risk incurring late fees on our cycle payments.
More about late fees in the next post.
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