The details of your agreements will contained information such as, the licensee, agreement terms, currency, sell - off etc.
Please see below the steps to enter the details of the agreement.
Note: The fields listed might be different depending on your agreement fields set-up. Refer to the below link to set the agreement defaults.
Create an agreement
1. Access the agreement section
2. Create New Agreement
Select the role "You" will be having.
1. Licensor - If you are the property owner and will be receiving royalties from Licensee.
2. Licensee - If you are paying out royalties to Licensor.
(I will be the Licensor)
Search the licensee name your agreement is with
1. You can enter a few letter of the licensee name and press search. The search will go thru the licensee section to search for the licensee.
2. If you cannot find the licensee name you can "Add New Licensee". This will add a new licensee to the agreement and to the licensee section.
NOTE: Please verify that your licensee does not exist first, to eliminate duplicate.
Enter the Agreement Category, Agreement Name and Agreement Number.
1. Agreement Category - Can be used to group agreement types together.
2. Agreement Name will default to the name of the Licensee+Agreement. You can change the name manually
3. Agreement number can be set in you set-up to follow certain sequence (See link here on how to set up) or you can manually edit.
Select Licensor and Licensee contacts
The licensor and licensee contacts comes from the users in the set up or the Address book in the licensee section.
Select Agent, Sub-Agent and Workflow.
Agent, Sub-Agent and Workflow drop down are populated from data already in the system. These fields are not mandatory.
Select the Term Dates of the agreement
1. Start Date of the agreement
2. End Date of the agreement
3. Royalty Start Date, when do you expect your first royalty report.
4. Signature Date, can be use to set a guarantee
5. Sell-Off Period, how many days after the agreement expiration a licensee can sale the residuals of products.
Select the Currency and Taxes
1. Exchange Rates: Select the method on how you will calculate exchange rate:
A- European Central Bank rate
B- Fix Rate
C- Upload Rates.
2. Currency, select the currency of your agreements.
3. Currency conversion dates
A- No Currency Conversion
B- First Day of Period
C- Last Day of Period
D- Average over Period
E- On upload Date
4. Deduct Withholding taxes. Enter the withholding tax % and the withholding will appear when creating an invoice.
5. Value Added Tax. Enter the value tax % and it will appear when creating an invoice.
Enter terms of your agreement
When entering the above terms they will show on the term sheet report.
Enter Payment Instruction
The drop down option for the payment instruction comes from the set up you have created in, set up> invoices.
1. Royalty payment instruction. Select the payment instruction specific to the agreement.
2. Advance Payment instruction. Select the payment instruction specific to the agreement.
3. Guarantee Payment instruction. Select the payment instruction specific to the agreement.
4. Guarantee Payment instruction. Select the payment instruction specific to the agreement.
Confidentiality Notice
This document may contain information of a confidential, proprietary and/or sensitive nature. This document and the information in it may not be reproduced or disclosed to any unauthorized users without the prior written permission of FilmTrack, Inc (here-to-forth known as ‘The Company’). Any unauthorized reproduction or disclosure of this document or the information contained in it is strictly prohibited. All authorized reproductions (either in whole or in part) shall bear this confidentiality notice.
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