The Authors Guild Addresses Publishers Payment and Accounting Practices

Oct 16, 2015

The Authors Guild has published the eighth installment of their Fair Contract Initiative, “Publishers’ Payment and Accounting Practices Need to Keep Up with the Times." 

According to the Guild, publishing agreements are among the most one-sided documents most authors ever see. But they enable another set of documents that can be at least as baffling and unjust: royalty statements. The publishing contract dictates the terms of royalty accounting, and as usual, those terms are mired in the practices of a bygone age. The new publishing agreement helps ensure fair book contracts that specify quarterly payments of income received by the publisher no more than three months in the past.

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