Terms of Business

Terms and Conditions

MIRACLE MAGNET STUDIOS Terms of Engagement

These are our terms of engagement agreed between the “Client”, which could include any person, company, partnership, organisation or body, and us MIRACLE MAGNET STUDIOS LTD. in relation to the provision of creative services across any creative and production disciplines (“Deliverables”).

Fees

We cover a range of creative and production services as well as create bespoke content and our fees are based on the specification of the production required. All aspects of the production are clearly laid out in our quotations which will indicate the services we will provide to you. Any extra content outside of the original agreed price, will be confirmed in writing by you before we proceed.

Deliverables

The products and services we provide you, and their associated costs, are set out in the briefing/proposal and/or quotation documents. From time to time we may need to engage third party suppliers for specialist services outside of our offering including, studio space, specialist kit, presenters, actors and voice over artists. Many third party services require Client approval in writing and this must be received by us before any engagement of these services takes place. Failure to comply with this process may cause a delay of final deliverables which is entirely at the risk of the Client and is not the liability of MIRACLE MAGNET STUDIOS LTD.

Transparency and accountability

Having agreed a fee; we keep accurate and transparent information of costs relating to your project. For example this can include time, expenses and equipment. If for whatever reason after scoping the project during pre-production stage it is apparent the scope of work has either greatly expanded or reduced beyond what was originally agreed, we will alert the Client immediately that we may be forced to commit more or less resources than budgeted, and come to a mutually satisfactory arrangement.

We manage all of our projects (where possible) through tools which allow multiple stakeholders to collaborate on any project(s).

On appointment

On appointment to a project by the Client, we will produce a ‘Head Of Agreement’ and/or ‘Service Agreement’ wherein our remit is agreed on the project in question. For example, it may be that in terms of scope, we would be working across:

Creative origination
Conceptualisation and storyboards
Film and/or production
Digital output for multiple platforms
Design work – 2D and/or 3D Motion
Etc.

We will also include the agreed fee for the delivery of those services defined above, and would then agree specific terms for constant and consistent support to the Client, and the facilitation of the smooth running of all Client projects. For example, these might be, for ongoing creative marketing and/or production support:

Attendance of key personnel at all meetings. Travel costs will not be paid unless the meeting takes place beyond the Client location. Where a meeting is required elsewhere, the production company will charge 50p per mile in travel costs.
Ongoing support. Production company to be available at all times within business hours (Weekdays 9am to 6.00pm) to help the Client update and manage all aspects of the project.
Any sub-contracting or leveraging other internal facilities will be explicitly approved in writing by the client.
Etc.

Invoices and credit terms – Estimate acceptance

We require prior provided cost estimates’ approval on all projects in order for us to set up the project and commence work. All estimated costs are exclusive of VAT at the prevailing rate.

Purchase orders

We require purchase orders (wherever possible), a booking form or a confirmation email before commencement of any work.

Invoicing

We send digital invoices (using our online tool) and/or as PDFs attached to emails to a supplied accounts contact. Where possible and when it is provided the PO number will be referenced on the invoice. All invoices will be inclusive of VAT (where applicable) at the prevailing rate.

Part-payment invoicing

Our standard terms are 50% upfront invoice on commencement of the project and 50% on completion but we are happy to negotiate separate terms in advance to suit client needs.

Note: No work will be chargeable outside of this payment process.

Payment terms

All invoices are subject to our standard 30 day payment terms, unless clients procurement standards are stated otherwise. Any changes to this will be agreed in writing before work commences. From time to time there may be the need to receive immediate payment for services. Such occasions will be agreed before commencement of the project in question by both Client and Production company.

Late payments

Prompt payment is appreciated. Reminders of overdue payments will be sent digitally (using our online tool). Overdue payments may be liable for interest as specified in the Late Payment of Commercial Debt (interest) Act 1998. All materials supplied (actual, intellectual or otherwise) remain the property of the Production Company until full payment is received.

Intellectual property & copyright

The Production company will expect due reward for production services undertaken on behalf of the client. This is to include conceptualisation and storyboarding, creative origination, and strategic proposals, whether used at the time, a later date, or not at all.
If the Client rejects a concept, or proposal, all material must be returned intact to the Production company. The Client may not use rejected material in whole or part, either in its original form or adapted/amended, for future projects.
In the event of the continuing business relationship between Client and Production company terminating, the Production company is entitled to compensation for its copyright of material that will continue to be reproduced in a substantially unaltered form as a recognised piece of publicity (e.g. storyboards, film rushes, licensing of music and voice overs).

Escalation policy

Our Clients have a single point of contact who is responsible for the smooth running of each MIRACLE MAGNET STUDIOS engagement. Any issues or concerns can be raised directly with the appointed contact who will aim to resolve it as quickly and appropriately as possible. If they are unable to resolve an issue it will be escalated to MIRACLE MAGNET STUDIOS MANAGEMENT TEAM who will work directly with the client on an appropriate, satisfactory and timely resolution.