A Contract defines the commercial agreement between a Record Company and a Payee for a specific Account. Contracts hold the financial terms used during royalty calculations and govern how payouts are processed.
Name - The name of the contract. Must be unique per record company.Contract Code - An optional external code identifier for the contract.Status - The current status of the contract: Active or Terminated.Accounting Period Type - The frequency of accounting periods, such as Monthly, Quarterly or Annual.Payee - A reference to the Payee associated with this contract.Account - A reference to the Account (within the Payee) associated with this contract.Start Date - The date on which the contract becomes effective.End Date - The date on which the contract ends.Sales Term - A reference to the Sales Term applied to incoming sales for this contract.Deduction Term - A reference to the Deduction Term applied to this contract.Cost Term - A reference to the Cost Term applied to this contract.Cross Recoupable - Indicates whether this contract participates in cross-recoupment with related contracts.Threshold - An optional threshold amount used in payout calculations at the contract level.Opening Balance - An optional starting balance for the contract. Must be provided together with Accounting Date and Currency.Accounting Date - The accounting date associated with the opening balance.Currency - The currency used for the opening balance.Cross Contracts - A list of other contracts this contract is cross-recoupable with.Notes - Internal notes.
