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Completion Bond.A financial contract that insures a given project will be completed even if the producer runs out of money, or any measure of financial or other impediment occurs during the production of the project. Completion bonds are used in many industries, including major films and construction projects.
Penal amounts vary.
Completion BondDepending upon credit this bond ranges from 1% to 10%
of the penal sum. ($125 minimum bond fee applies).