Outbound Contract: Select this option if you're licensing out rights for the properties you own, represent, or are allowed to sub-license.
Inbound Contract: Select this option if you're licensing in rights for the properties as a licensee or agent.
Licensing Contract: A licensing contract is between a property owner and a licensee, or a master licensee and a sub-licensee.
Representation Contract- A representation contract is between a property owner and an agent, or a master agent and a sub-agent.
Contract Status Types
Active Contract: The contract is current and live.
Inactive Contract: The contract is not currently live and has not taken effect yet. For example, the start date is in the future.
Expired Contract: The contract has run its course and is no longer in effect.
Contract Terminology
General Terms:
Add a contract number or select 'Auto Generate.'
Enter the license start/end dates.
Toggle 'Auto-Renewal' and/or 'Deduct sales during the sell-off period against the minimum guarantee.'
Select the currency type from the drop-down arrow.
Categories, Territories, and Distribution Channels:
Choose 'All...' or 'Selected...' by clicking the checkboxes within.
Royalty Rates:
Add a royalty rate by choosing if this 'Applies to all' or 'Applies to selected.'
Choose royalty type: 'Percentage of Sales' or 'Flat Fee per Unit Sale.'
Add 'Standard,' 'F.O.B,' and/or 'Direct Rate.'
Add a condition e.g. ('If Units sold equals Amount.')
Choose to 'Deduct Reported Returns from Royalties' and/or 'Deduct Reported Discounts from Royalties.'
Click 'Save' to complete.
Payments:
Select Payment Type: Advance, Guarantee, Flat Fee.
Choose if it applies to all or selected.
Add the name, amount, and due date.
Choose 'Recoupable,' 'Refundable,' and/or 'Installments.'
Click 'Save' to complete.
Sales Reporting:
Option to choose has to report sales.
Select 'Compliance Frequency,' 'Marketing Start Date,' and 'Report Due (Days).'
Submissions:
Add Review Period (Days)
Notes:
Add any additional notes here.
Documents:
Upload any relevant legal documents or agreements for this contract license.
Search from the 'Creative Assets' page or upload file.
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