« These are commercial agreements between integrators such as Sony and CinemaNext and their customers, » says Phil Clapp, CEO of the UK Cinema Association. « The only thing I know for sure is our own digital funding partnership, the group we`ve brought together to help little boys go digital, and that should pick up in early 2020. » However, he confirmed that he believes the UK will be completely free of VPFs « by the end of 2020 and probably well before. » Just six weeks after the VPF agreement was signed, every screen in the Everyman network had Sony`s 4K projector technology. In collaboration with Sound Associates in the installation process, they were able to implement this implementation at a time level consistent with the requirements of their board and location managers. Carefully monitor the definitions of « quality errors » and « safety errors » as they appear several times in the agreement, including when a VPF is not paid if both occur. According to the agreement, a quality error is that an essential part of this team`s work is to work with DLCs and VPF Procurement Operations on contracts for goods and services. The team works to first understand business and research objectives in order to negotiate agreements to protect MIT`s interests and minimize risk. Two other points to note in the main part of the agreement are section 23 (TVA) and section 24 (various). Paramount does not pay VAT on devices purchased for the calculation of the amount to be refunded. For digital systems that cost more than $80,000, this could mean that the issuer would pay as much as $4,800 per installation if the average tax rate is 6%. In combination with each down payment they have to pay for installations, an exhibitor may have to work on a huge amount of capital to convert a circuit with up to 100 screens.
Section 13 – The most popular conditions with section 3 on installation and section 7 on virtual print fairies, this section is extremely important. If an exhibitor signs an agreement for a lower VPF with another company, paramount must be informed and the studio reserves the right to reduce its own VPF to the new amount. Section 13. (a) e says it all: Section 3 – Facilities This is one of the most important sections of the entire contract. It specifies the length of time that an exhibitor must install digital cinema equipment in his theatres from the date of signing the VPF contract.