It’s time for Freeway’s next video 📺, about paying US Guild Residuals to members of SAG-AFTRA, DGA and WGA, using a Collection Account.👇 🤔 What are Guild Residuals and how does a Collection Account with Freeway make sure that Independent Film Producers pay Residuals correctly? ➡️ Residuals are additional compensation payments which may become due and payable by the Production Company to Actors, Directors and Screenwriters, under the Basic Agreements. ➡️ Residuals may become due when a Film is exhibited, distributed, or otherwise exploited, domestically and/or internationally, beyond its initial theatrical exhibition. ➡️ This can include pay and free TV, home video and DVD, streaming and new media. 🧐 How are Guild Residuals calculated and paid? ➡️ Guild Residuals are payable on worldwide revenues. ➡️ The Production Company will set up a Collection Account with Freeway as neutral third party Collection Account Manager (CAM) to manage the receipt, administration and allocation of revenues. ➡️ The Production Company and the Sales Agent will instruct the local buyers or Distributors, to pay revenues due under the Film’s Distribution Agreements, into the Collection Account. ➡️ Freeway sets aside, off the top and from every dollar received in the Collection Account, a fixed percentage which goes to a Residuals-Set-Aside. ➡️ A Payroll House, appointed by the Production Company, will calculate the exact amounts of Residuals payable, based on information like worldwide revenue reports and the Film’s media allocation. ➡️ Freeway is periodically notified by the Payroll House of the exact amounts of Residuals payable. Each time the CAM receives an invoice from the Payroll House, Freeway pays the total amount of Residuals payable from the Residuals-Set-Aside to the Payroll House. ▶️ The Payroll House will then cut the checks and pay each Guild Member individually. 👉 Do you have US Guild Members in your Film, and do you want to know more about paying Residuals through a Collection Account with Freeway? ✅ Contact Freeway Entertainment Group or visit the website: https://lnkd.in/gu_dXThz.
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