Date:
2012-09-03, 3:52PM PDT
Many
people posting ads on Craigslist attempt to offer deferments, instead
of paying actual money. They promise to pay you when the money comes
in (that's assuming any money comes in, and after they've paid
everyone else.)
So
how should you respond to such offers? You should only accept a
deferment if the person offering it is really serious about his
project, and really intends to pay you. How do you know he's serious?
Here's how you find out:
First,
ask him if he really believes his film will make money. I mean, he
REALLY believes it. Most of the time he will tell you he believes it.
Next,
ask him what amount he's willing to GUARANTEE. In other words, how
much will he promise to pay you if the movie DOESN'T make any money.
The usual response is something like, "I can't guarantee it will
make any money." But again, your question is how much he
BELIEVES it will make money. If he really believes it will make
money, he should be willing to guarantee future payment. If he isn't
willing to guarantee future payment, he doesn't really believe it
will make money. And if HE doesn't believe it will make money,
neither should YOU!
So
what if the rare situation arises where he is willing to make a
guarantee, how do you make sure he will actually pay you? Very
simple. Ask him to sign a promissory note, which is secured by some
tangible asset. Usually his car will suffice. If he fails to pay the
note, you take ownership of the asset. Secured promissory note forms
are available at most stationery stores.
If
he won't sign a secured promissory note, you can be sure he doesn't
really believe his film will make money, and he has no intention of
paying you. That's not a deferment, that's nothing more than an
unsecured, interest free loan! If you really want to speculate, go
buy a lottery ticket -- your odds of being paid are much better.
Don't
be a sucker.
Compensation:
Pay a fair wage for professional services
