Our band has received a booking from an agent and on receiving the contracts there are a few things we have queried and I just wanted some further clarification regarding one point.
The agent initially told us commission was 15% + VAT. The contract stated 17.5% + VAT. We have discussed and heis going to re-issue contracts with the 15% figure.
There were no details regarding payment timescales, which we have outlined via e-mail must be included before we sign. The agent has told us it's 30 days from the date of performance as he does not get paid until after the event. However, his T7C's on his website clearly state:
"The Venue agrees to pay the fee as detailed on each contract and agree to pay in full within a 14 day period, failure to do so will result in a sure charge being applied daily to your account of 4%. The Client agrees to pay 50% deposit of the total fee on booking with an agreement to pay the remaining 50% balance 4 weeks prior to the event."
This means he obviously DOES get paid before the event, so would we be right to include a date that we expect to receive payment on our invoice and apply a similar 4% surcharge as to the one he has (except we will spell it correctly!! The above is copied direct from his website lol!)?
Any advice would be gratefully received
It seems you have different conditions in your contract to those that are shown on the website, the conditions which will apply will be those which you sign. I would suggest you contact the agent and ask which conditions are to apply to you and then decide if they are acceptable, do not sign if they are unacceptable or unclear, as you can be held to them regardless of what you are told. Contracts can, of course, be verbal but terms can then be difficult to prove.
And negotiate. If your good enough he'll be happy to. Normally a invoice from yourself after the event with a 28 day interest fee period then charge per day till the payment is received. Hopefully he'll settle before hand but normally if he's an agent he's working for an agent so change your terms or make some, Research it and 'reserving your right' is a key word in your terms ;-)