Common use of CANCELLATION AND POSTPONEMENT Clause in Contracts

CANCELLATION AND POSTPONEMENT. A cancellation or postponement is defined as a rescheduling of the production to a later specific date caused or directed by Agency/Client or a total cancellation of the project. If the Production Company blocks out a specific period of time with the agreement that it represents a firm commit- ment from the Contracting Client, then the Production Company makes no further efforts to sell the time. If the job is canceled or postponed within the Guideline time frame, it is unlikely that this time can be re-booked. It should be understood that this time represents the Production Company’s only source of income. A. If notice of cancellation/postponement is given to the Producer ONE TO TEN WORKING DAYS prior to the com- mencement of the shoot, the Contracting- Client will be liable to the Production Company for: (1) All out-of-pocket costs. (2) Full director’s fee as bid. (3) Full production fee on the job as bid.