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Hi All – What are your opinions about this?: You’re with an exclusive library with 50/50 split on fees and backend. They receive upfront fees on all placements, and send you a notification for each successful placement sfter they’ve received payment from the client. There is nothing in the agreement regarding pay time. You then find out that 12 months will elapse between when you receive one of these notifications and when you actually receive payment. Thoughts?
Probably not uncommon. This business seems to be a waiting game. I’m slowly getting used to that. I only get backend payment for cues used in a foreign soap opera once a year.
No payment schedule in the agreement? Well….that’s a pretty egregious oversight. I suppose 12 months is OK then. Longer than 12 and I wouldn’t expect to get anything, I’ve never had to wait 12 months on any agreement / payment – then again, they all had schedules for payment included in the contracts.