Now that the manager and the artist have opted for a long-term job, a more detailed contract must be written. A long-term contract can be divided into two sections: the contract that designates the rights of one of the parties and defines the terms found in the schedule; and the timetable used to detail the clauses in which both parties fit. It defines: – Underlines both the responsibility of the manager and the artist. The industry standard for a manager who needs to be compensated for his or her efforts is 15% – 20% of clients` salary. These include the sale of albums, the promotion of labels and revenue from the revenues they have negotiated. Some do not take anything from the sale of merchandise and the cost of writing songs, but this can be negotiated. You should add how payments are made and who withdraws the money earned. Many pay for their own phone or office fees. Make sure you manage it fairly by providing proof to the customer. Please also state in the contract that any expenses in excess of a certain amount must first be paid with the customer. If you don`t know the artist or manager well, you can opt for a short-term contract first. This allows you to have a better idea of the other person and see if you fit well professionally.
This document is an agreement between an artist and a management services manager. Includes the scope of representation, conditions of authority, rights and compensation, as well as other important clauses. Compensation is equal to one per cent of salary. The original SEC filing can be made here: www.sec.gov/Archives/edgar/data/1168981/… Many managers actively stick to an approach known as the “meeting phase,” a time when artists and managers agree to work together informally. This time is used to establish the relationship; to test whether both parties can get away with it and whether they are serious and professional in their work. The specific role of the manager depends on both the manager and the artist. In general, however, the manager gives advice and guidance to the artist on all matters of the artist`s professional career. That is why it is important that both sides are on the same side of the leadership`s role. They should also agree on their collective expectations and goals.
Although an oral agreement is sufficient, it is always recommended to have a written management contract to avoid conflicts in the future.