Movie Making Manual/Equipment Timeshare Agreement

This is the Draft Agreement fot the FilmEquipmentTimeshare

Draft Agreement

Outline

• The Film Equipment Timeshare is a "for mutual profit" partnership the purpose of which is to enable members to pool resources and buy film-making equipment which the members then share.
• Each member will contribute an initial £X.00 to the partnership and pay an 1/5th X renewal fee each year.

There should be a buy in fee, this makes the members feel like owners making it more likely they will take good care of the equipment. The actual amount (X) will depend on the aims of each particular partnership. A collective wanting to make High Definition feature films will have a much higher buy in fee than a group whose members want to make gritty documentaries

• There will be a minimum of 3 and a maximum of 12 members.

Fewer than 3 and you can make do with a far simpler arrangement than this structure. More than 12 and the group becomes unwieldy and leaves little equipment time for each member. In this case Members would probably be better off renting.|}

• Members can be individuals, companies, partnerships, etcetera.
• Members may choose to manage the partnership in-house or appoint an external management member.

If a lot of these partnerships spring up there could conceivably be a central company/individual who looks after management of the diaries, the funds and equipment maintanence for all the projects.

• If Members choose to manage the partnership themselves they should elect a treasurer, a diary keeper, and an equipment maintainer. Members may hold more than one of these positions.

Purchase of Equipment

• Members should agree their aims and then assemble a list of equipment to meet those aims.
• Members can then purchase this equipment in any manner the partnership agrees.

Paying up front is simplest but the partnership will have a revenue stream so it could quite coceivably buy equipment on credit or borrow money to buy additional equipment in advance.

Use of Equipment

• Each member is assigned 350/[number of members] days use per year.
• Members shall pay Y per day for actual usage of the kit

This sum should be an amount far far lower than a rental charges would be. It is there to stop “just-in-case” bookings, provide for the repair and replacement of equipment, and to repay any loans or equipment purchased on credit.

• Each Member therefore guarantees to pay each year £Y times 350/[number of members] per year.

This guarantee may not be strictly necessary or could. Perhaps a guarantee to rent for ½ the total days would be sufficient.

• 15 days each year are set aside for servicing of equipment or emergencies.
• Members should reserve equipment with the diary controller. The diary should be available to all members at all times (preferably online) so they members can plan their projects.
• Equipment cannot be booked more than 1 year in advance.
• Members not using all their assigned days may allocate them to a "pool"/bulletin board where they may be purchased by another member.
• Members will sign equipment over to themselves when collecting it from the previous user. It is the accepting member's responsibility to cover any insurance excess for loss of or damage to the equipment while it is in his care.

General

• The equipment shall be insured at all times
• Equipment cannot be lent or hired to 3rd parties

Governance

• New members need approval from a majority of existing members
• Members may sell on at any time: existing members have pre-emption rights but if not taken up any new member to be approved by a majority.
• General Meetings at least once per year immediately following the anniversary date of the partnership's formation, any two members can requisition an extraordinary general meeting.
• At General Meeting members will vote on rental levels, how much of the capital to disburse, how much to reinvest in new equipment and how much to leave in the partnership.