5 The Interparty Agreement
An interparty is not an agreement, it's an excuse for lawyers to make money.
Producer's comment after being presented with legal bill from a bank's law firm
The discounting of production receivables is the essence of all production financing. Whether for television or film, production receivables can include, among other things, licences to broadcasters, pre-sales or licences to distributors, negative pick-ups, equity investments, tax funds and grants or rebates made available by various institutions. The production receivables for a particular project are typically assigned to the bank by notice of assignment and the proceeds received are used to retire the loan. For significant licences or distribution ...