One of the most commonly overlooked aspects of being an artist is having a good contract. This is especially true if you are working on your own and do not have a large gallery to back you up with advertising. However, even if you are self-employed, having a good contract can make a big difference in the amount of money you make. There are a few key components to a good contract for the artists in your life.
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One of the first element in an artist management contract template is a dispute resolution section. If a dispute arises between the artist and the manager or any of the other parties in the contract, there needs to be a way to handle it professionally. There should be the option for both parties to take the matter to court or arbitration and for a third party to evaluate the outcome.
The dispute resolution section in an artist management contract template will also require that the parties work together sincerely. There should be an agreement to respect one another and work towards common goals. If there is no agreement in the contract, there should be at least a promise to work together as friends.
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Also, the contract must spell out a schedule for payments, a physical representation of the artist, and insurance coverage. These are all terms that should be included in every contract. They need to be durable and enforceable by both parties.
The physical representation is important in contracts because it provides the artist with financial security. He will know that he has a place to live, food to eat and that his money is protected. As well, there should be security in the form of the artist manager being paid by a regular source.
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Having insurance coverage is also very important. This protects the artist from unexpected circumstances that could cause him to lose money or face financial difficulties. The contract should spell out exactly what the insurance covers, how much it costs, and who it is paid by.
The contract is an important part of every contract for artists because it serves as the legal documentation for the relationship between the parties involved. It is the public record of the agreement between the artist and the manager. As such, there needs to be a well-written document that is easily understandable to the artist and also to the potential buyers.
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A good contract is not only easy to understand but also helps to lower costs. When you use a contract template, this can be true as well. It also gives an artist confidence in their management company and allows them to move forward without worry about the loss of income.
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