The posting of security (or bonding) ensures an Engager can meet all of its financial obligations to the Artists it has contracted. An Engager cannot issue contracts to an Artist before posting security with Equity.
Related information can be found in Article 33:00 of the Independent Theatre Agreement.
Generally, the amount required in security is equal to:
An additional amount is required for touring productions.
It’s generally a good idea to build in some padding, in case of unforeseen contractual fee increases, since discovering that the bond is inadequate in the middle of production can be both panic-inducing and frustrating.
Some things that might bump the bond requirement up are:
If you have any questions or require more detail, please contact your Equity Business Rep.
Peak Security allows an Engager to bond based only on the 2 consecutive weeks in the season with the highest total Contractual Fees–instead of being based on all contracts from all productions across the season. For the purposes of this calculation, Contractual Fees for a Director, Choreographer, Fight Director, and Intimacy Director should be included in the first week of rehearsal of the Artist’s engagement.
An amount equivalent to the provincial and federal sales taxes, depending on the theatre’s point of origin is also required.
It’s wise to build in a cushion to allow for any changes that may occur later. For example, if you were to add a workshop during your peak weeks at a later date, your calculated peak would no longer be accurate and you would be required to make an immediate top-up to your bond.
Engagers who have produced at least 3 seasons under the ITA (and don’t have a history of unpaid balances with Equity) are permitted to use the Peak Security method of calculating a bond. The full season’s calculation and summary is required to approve a Peak Security bond.
It’s advisable to have appropriate security in place before beginning negotiations with Artists, as you may encounter a delay in confirming your bond and a contract must be issued within 10 business days of agreeing to terms. For this reason, it’s also in an Engager’s best interest to overbond based on anticipated negotiations or fees greater than the minimums.
It’s possible to provide an updated calculation and top up your bond, but this may delay the release of additional contracts.
Remittance details and a breakdown must be sent to engagerAR@caea.com to ensure monies are allocated to the correct Artist. Remittances submitted without supporting documentation will not be applied to an invoice and may incur interest penalties.
Bond remittances that include other invoice monies can be made to bonding@caea.com if supporting documentation is included.
Contact your Business Rep or email engagerAR@caea.com to request Equity’s banking details.
Remittances must be sent to bonding@caea.com. Note your Engager number in the reference section.
‘Canadian Actors’ Equity Association’ may be set up as a payee if your financial institution supports this remittance type. Note your Engager number in the reference section.
Wire transfer remittances must include an additional $17.00 to cover the service fee charged to Equity. Note your Engager number in the reference section.
If using a third party provider (e.g., Plooto), funds must be deposited directly into Equity’s bank account without requiring a password or additional validation. Note your Engager number in the reference section.
Remittances may be sent by regular mail or courier. For courier, it’s advisable to contact Equity to ensure the office is accessible on the delivery date.
Please make your certified cheque, money order or bank draft out to ‘Canadian Actors’ Equity Association’ and send it to:
Engager Accounts Receivable,
Canadian Actors’ Equity Association
44 Victoria Street, 12th floor
Toronto, ON M5C 3C4
Note your Engager number in the memo section of the cheque, money order or bank draft and include your detailed paperwork or copy of the invoice(s) with your remittance.
Remittances cannot be made at RBC using branch-generated deposit slips.
The Engager must contact Equity to formally request the release of a bond.
Before the bond can be released, all of the following steps must be completed:
Have questions or need more information?
Contact UsNational Office
44 Victoria St, 12th Floor
Toronto, ON M5C 3C4
Phone
416-867-9165 (local)
1-800-387-1856