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I'd love your input on how to reference the royalty payment in an artist contract. I'm green at contracts and don't want to include unnecessary details but don't want to omit information if it is important.
We will be paying 5% royalty on net sales. My question is, do we need to itemize in the contract the actual deductions we'll take off gross sales? Our deductions would include:
- taxes
- credits
- returns
- quantity discounts
- shipping
Thanks so much!
We will be paying 5% royalty on net sales. My question is, do we need to itemize in the contract the actual deductions we'll take off gross sales? Our deductions would include:
- taxes
- credits
- returns
- quantity discounts
- shipping
Thanks so much!