Advance
An advance is a prepayment of “backend” or “contingent” compensation. Advances are owed back to the payor, and are paid back from future royalties.
Pronunciation: /ədˈvns/
Categories: recordedMusic, musicPublishing, musicLicensing
Related Agreements: producerAgreement, sideArtistAgreement, recordingAgreement, coPublishingAgreement, administrationAgreement
Related Courses: understandingProducerAgreements, basicsOfAgreements, understandingWorkForHireAgreements, understandingFeaturedArtistAgreements
The are paying us a $50,000 advance against our royalties.
