Manually Creating Contracts
The easiest way to manually create contracts is in the Catalog Manager, but you can also create contracts from any Release, Track, Item, or Transaction page, or from the Contracts section.
To manually create a contract:
- Navigate to a Release or Track and click Edit
- Click the + button next to Contracts
- Fill in the payee, the payee's split amount, and an optional ledger; if you need to, add new payees or ledgers via the +
- Click save
It’s best to tackle your more complicated contract situations first, and work your way down to those that are more default/standard (for which you can use the Default Contracts tool outlined below).
The default contract creator tool is helpful for assigning a standard contract split to releases across an entire catalog that don't already have one. It will never overwrite contracts you've already created and assigned. The tool uses artist names to create new payees when needed
To create default contracts:
- Navigate to the Contracts page
- Click the “Create Default Contracts” button
- Enter a default split amount
- Click save
Note! Default contracts are set to Crossed Collateralization. To create ledgers for each release, unselect the “Crossed” box. Read more about Ledgers.
Accounting for multiple releases by different payees sold in a bundle is made simple in IC with the Bundle Contracts tool.
To create a bundle contract:
- Navigate to the summary page for a release included in the bundle
- Click the “Create Contract” button and select “Bundle” from the drop-down
- Complete fields for Contract Name, Release, and Price
- Use the “Add Another Release” button to include each release included in the bundle
- Click “Submit”
Creating pro-rated release contracts for compilations with many different payees is made simple in IC with the Compilation Contracts tool.
Note! The Compilation Contracts tool only creates release-level contracts for compilations once track contracts have been created and assigned. Every track in the release needs a contract in order for the system to calculate and create a pro-rated compilation contract. Ledgers.
To create a compilation contract:
- Navigate to the summary page for the compilation
- Click the “Create Contract” button and select “Compilation” from the drop-down
- Edit the contract name as needed and review the pro-rated split amounts
- Click “Create Contract”