A Deal Memo is usually known for the usage of some producers for the sake of employment, meaning to say, Deal Memos are commonly used in the field of filming. It is more like of a contract but in a suggestive way and dealt when the other party has signed it. The deal memo itself implies and states all the things that the employee was hired to do. It should state clear and accurate details about the job and the rules that may be implied. Deal Memos are meant to be transparent and everything in it must be followed. By using this, the employer and employee must be binded by the deal memo and agree with whatever is written in it.
The most basic format of a Deal Memo includes the identity of the employer and his or her contact and personal information as well as the employee, the details of the term of employment, some miscellaneous acts, the name of the production company, modes of payment, and the effectivity of the memo or contract. Deal Memos also includes some conditions and agreement which can be cross out by the signing party if was not agreed upon. The makers of the deal memo must also include how and when the employees would be paid aside from the mode of the payment, some uses hourly wage, per service wage or weekly and daily basis.
Everything that must be included in a Deal Memo must be clear and direct to the point. It must state real information and must be legal for the sake of the employment. However, there are different ways of creating a deal memo, it could be simply just supplying details in some space provided, and in a statement way. So here is a step by step procedure on how to make a Deal Memo:
Step1
Make a draft or list on what the producer wanted to include in the deal, it must be precise with words and should not bring the employee into confusion. If possible, make every single detail elaborated. List down the important details that a Deal Memo must have which is aforementioned.
Step2
Start by writing down the title of the document which is Deal Memo. It could be customized into whatever the title of the job that the employee was being hired to, for example, Crew Deal Memo, Writer’s Deal Memo and so on.
Step3
Start by supplying the name of the production company, this must come first followed by the name of the producer hiring and then the name of the employee. Next is to write down some personal information like address and contact information of every person included, likewise the contact information of the production company.
Step4
After writing down the details of the employer and employee, proceed to writing down the starting and expiry date of employment, the amount of salary that was agreed upon, and the mode of payment.
Step5
Next is to enlist down by enumerating the conditions that both parties have agreed upon. This part may be long depending on the conditions that may be implied.
Step6
Last is to provide a space for signing. Print the names of the parties included which are the employer and employee as well as the production company. Provide a space for the date when the deal was signed.
1
Before making a Deal Memo, meetings are conducted first. During meetings, jot down some details that would be tackled about for it would be needed in the deal memo. Be sure to write the correct details and information.
2
Make a copy for the production company, the employer and the employee to keep record of it and as a reference.
3
Proof read everything that was written in the deal to correct some mistakes and avoid mistakes as well as before signing anything, be sure you have read everything in it.
4
A Deal Memo could be signed within a presence of a legal authority but this is optional depending on the employer and employee, however signing it with a legal authority may help the legality and credibility of the deal memo itself and confidentiality of the agreement.
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