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The breach may also trigger the termination of the contract (and any underlying licences). An indemnity is a promise to pay. The indemnifying party agrees to pay an amount to the indemnified party when a trigger event occurs.
Here are the basic clauses you should review in a book publishing contract: Author and Publisher Legal Names. Grant of Rights. Advances and Royalty Payouts. Understanding Subsidiary Rights. Maintaining Editorial Control. Options and Right-of-First Refusal. Consultation and Approval Rights. Warranty and Indemnity.
Termination can be proposed by either party, and, once initiated, there is usually a waiting period of six months to a year before the actual agreement is concluded. Reasons for termination vary but most often concern a failure to meet specific contractual obligations.
Termination can be proposed by either party, and, once initiated, there is usually a waiting period of six months to a year before the actual agreement is concluded. Reasons for termination vary but most often concern a failure to meet specific contractual obligations.
The contract will also include basic things such as your word count (usually 85-100,000 words for commercial fiction), how many books the publisher is buying from you at this stage (usually one or two for a first deal), your delivery dates and planned publication dates, your responsibilities if there are any (such as ...