Speaker 1: All right, many people have been asking me for this and I'm finally doing it. I'm giving you my video production contract template. Now, warning slash disclaimer, this is not legal advice. Everything you see in this video, just take it as an idea and then go to your local lawyer to check if everything works for your business as well. But before we go into that, why can I even tell you how you can structure a video production contract? Well, my name is Nick Metzger and I grew my own video agency from zero to over $40,000 per month. And today I help videographers just like you make more money. So let's get right into it. All right. So as you can see, we're in Google docs here and we have the template open for the video production contract. Super easy, simple things you need to do. You need to change the logo and then obviously just fill in whatever is red here. So first of all, this is a video production contract between let's call it super, super awesome client LLC and your company, which in that case is VentureSum LLC. Now there are a lot of, lot of, um, figures here that we're going to go through. So first of all, the agreement, this agreement contains the entire understanding between the company and the client. You leave it as it is. Okay. Because we say here, here and after referred to as client here and after referred to as company, it supersedes all prior and simultaneous agreements between the parties. The only way to add or change this agreement is to do so in writing signed by all parties. In the event that any part of this agreement is found to be invalid or unenforceable, the remainder of this agreement shall remain valid and enforceable. Any agreement to waive one or more provisions of this agreement or any failure by one or both parties to enforce a provision of this agreement shall not constitute a waiver of any other portion of provision of this agreement. And now we go into deliverables. Okay. This is just the foundation for the contract. Now the deliverables, first of all, you want to put in what is the video type? Let's say it's a social media ad. In example, then you want to let them know what export formats they can expect, right? And obviously you talked about this with the client. You need to ask them, Hey, what export formats do you need? So therefore they cannot come back to you and say, well, now we need a one by one. Now we need a nine by 16, right? So if they say 16 by nine and nine by 16, then that's it. Okay. Duration. You can always give an estimate. So about 30 to 45 seconds, an example distribution, Facebook, Instagram, YouTube website. Let's say they don't want to upload it to YouTube, but just Facebook, Instagram website, then off voice. Do you need an off voice? If yes, which languages? So let's say yes. And then we have here English, right? And this is crucial. You want to go into as much detail as possible. So the client knows exactly what they can expect and what is included. Subtitles. Yes. No, let's say no. Right. So we could just keep that at no. And then you mark it all as black font. Then schedule milestones. This figure could also be taken out if you don't need it, but we like to put it in. We say an example, 1st of August, 2022. And we say kickoff meeting example. And then let's say the 31st of August will be delivery date. So you say delivery, right? Then project budget. Both parties have agreed to do to the following total project budget. And here you put in what the project budget is. Our average project is about $15,000. And I'm just going to mark these things in black font too. When applicable, the client is responsible for all travel accommodation and meal costs unless provided by the client. This is crucial because then you can just charge the client for your expenses. Now you want to let the client know what costs are to be expected. Okay. For travel, let's say 300 to $500. An example, then accommodation. We don't need that. And meals, let's say a hundred like $80 to a hundred dollars. Okay. Okay. So this way the client knows what costs they need to calculate into their project. All right, then payment terms, crucial. Otherwise you're going to get paid late. The client receives an invoice for 50% of the total project budget to be paid upfront. This is very important because you want to manage your cashflow. You want to make sure that you have cashflow at all times, and you don't need to wait for the clients to pay you. The company can delay production if the invoice doesn't get paid in a timely manner. After completion of the project, the client will receive another invoice for the remaining 50% of the total project budget, right? This is how it's going to go down. This makes it very clear for you and the client. Responsibility of the company. The video production contains the following services taken care of by the company pre-production, and then you just leave in whatever you take care of and everything else you take out. So project coordination, organization of crew, admin work, actor casting, maybe you don't need actors. Okay. So let's delete it. Location scouting, location permits, development of ideas. Sounds about right. That's market black. Then production shoot, including crew and equipment. Yep. That's what we're going to do. And then post-production edit, sound design, color grading, retouching, maybe we don't need and export. And that sounds about right. Then responsibility of the client. See how we set the expectation for the clients as well. So the client acknowledges the responsibility for the following final week feedbacks within three business days in example. Right. And pay all invoices on time. The payment terms are here. Ownership and use of video and raw data. This is a crucial one. One question that we get so much. The client is the owner of the final video and can use this video for their own company without special or temporal limitations. However, this ownership is only transferred after all invoices are paid in full. Until that point, the company is the owner of the video. The company is the owner of the raw data files. The client has no right to this material and or project files. If the client wants ownership of that data, the client can acquire it after discussion with the company. Now what we do typically is we charge a client 25% of the total budget. If they want to get the raw data files, the client hereby assigns the company, the irrevocable and unrestricted right to use and publish the video for their own marketing purposes. This is also crucial because that way you can put it on your website and social media, and you never have to ask the client. Now, data backups. This is optional. That's why it's red. Um, we do this. You don't have to, but this is another great income stream. So to be able to make changes to the video after the project is finished, we need to have the raw data files. There must be securely backed up at all times. We guarantee set backup for a year. Afterwards, the client can extend the backup service for, and we do $250 a year. All right. So that way every client pays us 250 bucks for the raw files. Revision rounds. That's it. The client has two rounds of revisions included in total project budget. These two revision rounds are structured as follows. Now pay attention. Revision round number one, possible feedback to everything as long as it does not differ from the initial idea and agreements revision round number two feedback only to the changes made after revision round number one. So anything that gets forgotten in revision round number two cannot just be said in revision round number and revision round number one cannot just be said in revision round number two. If they add additional feedback, you can charge them for it. If something needs to be changed, even though it wasn't mentioned revision round number one, the company has the right to charge a client for the additional work. All right. Termination of the contract. This contract shall become effective when all parties have signed and will be effective until the company has delivered the final video and the client has paid all invoices in full confidentiality agreement. Both the company and the client agreed to treat all knowledge and processes, documents, workflows, et cetera, of the counterparty strictly confidentially. This agreement applies equally to all employees and or third parties who have access to the aforementioned business processes, documents, and workflows. This agreement applies indefinitely even after the contract has ended components of this contract. The following documents are components of this contract and then list everything you need to have as a component could be a pitch deck, could be, um, an offer you made could be whatever, right? But just every document that needs to be needs to be attached to that contract. Then signatures just literally date. Um, and then your name, your position company, client's name, client's position, client's company. And then you want to send that out using an electronic signature provider. It could be Adobe eSign. Since most of you guys are using Adobe anyways, it could be PandaDoc, could be DocuSign, whatever it is, but send it out and get it signed electronically. All right, that's everything. That's our entire video production contract. Again, I'm saying this, this is no legal advice. Check back with your local lawyer to make sure that this works for your company. All right. Now, if you want to get that entire document template, if you want to know our entire process of how we go after premium clients, how we charge $15,000 on average, and how we built a business that makes us over 40 to $50,000 per month, then I have something that could be of interest to you because in the description below this video, there's a link to a free video training to the Video Business Academy. Now what is the Video Business Academy? It is a consulting program that helps video creators just like you scale to $10,000 a month and beyond within only three to six months. And the cool thing about it is we have a 100% success guarantee. So if you want to check that out, go click that link now and watch the free video training.