Formula Design is looking forward to working with your organization. However, in order to protect Formula Design and our clients, we have provided these policies for clarifcation on process, payment and ownership. This does not replace the Letter of Agreement we will provide you for your specific project, but does give you an outline of our terms, and waht to expect. It all sounds so legal... but necessary.
- RESERVATION OF RIGHTS: All rights not expressly granted in our proposals are retained by the Artist, including any electronic rights or usage, and including, but not limited to, all rights in sketches, comps or other preliminary materials. Any use additional to that expressly granted in our prposals requires arrangement for payment of a separate fee.
- REVISIONS: Revisions may be made only by the Artist at the sketch/comp stage. Additional fees will be charged for revisions made after the approved number of comps and 3 revisions, and for revisions reflecting a new direction to the assignment, or new conceptual input.
- CANCELLATION AND KILL FEES: Cancellation (“kill”) fees are due based on the amount of work completed. Fifty percent (50%) of the final fee is due within 15 days of notification that for any reason the job is canceled or postponed before the final stage. One hundred percent (100%) of the total fee is due despite cancellation or postponement of the job if the art has been completed. Upon cancellation or kill all rights to the art revert to the Artist and all original art must be returned, including sketches, comps, or other preliminary materials.
- CREDITS AND COPIES: A credit line suitable to the design of the page will be used. Client agrees to pay an additional fifty percent (50%) of the total fee, excluding expenses, for failure to include credit line. Credit line is required independent of Artist's signature, which shall be included at Artist's discretion unless otherwise agreed in writing above. Client agrees to provide Artist with ten (10) sample copies of any printed materials.
- PAYMENT: Payment for finished work is due upon acceptance, net thirty (15) days. The Client's right to use the work is conditioned upon receipt of payment within fifteen days of acceptance, and upon Client's compliance with the terms of this agreement. A two percent (2%) monthly service charge will be billed against late payment. We do require a non-refundable retainer before work can begin. This retainer is based on size of project and client location.
- ORIGINAL ART: Original art remains the property of the Artist unless expressed in the agreement. Client is responsible for return of original art in undamaged condition within fifteen (15) days of first reproduction.
- ADDITIONAL EXPENSES: If Client does not provide a courier/shipping number, shipping charges will be added to the final invoice. Client agrees to reimburse Artist for the following expenses:
Messengers; Models; Props; Travel; Telephone; Proofs; Disks; Photography;
- PERMISSIONS AND RELEASES: The Client agrees to indemnify and hold the Artist harmless against any and all claims, costs, and expenses, including attorney's fees, due to materials included in the Work at the request of the Client for which no copyright permission or privacy release was requested, or for which uses exceed the uses allowed pursuant to a permission or release.