BUSINESS 101 side of recording....adviced needed!!

I have a band that wants to record some songs with me and we have all decided on how much I am going to charge them. My question is how can I make sure that I am going to get my money when all of this is done? I don't want to envolve my lawyer, but I'm wondering what if I get done with these songs and the band doesn't have the money for whatever reason? I most certainly don't want a "my word versus his word" arguement. How do you guys handle this? Should I type a contract and have everyone sign. Then give them a copy and I keep a copy? What are some important elements that need to be in the contract other than the total amount of money owed to me? I do not doubt my ability to deliver a great product on my part and they are a great band, so I know that they can cut it. I just don't want to spend countless hours doing this for them only to find out that they are going to dog out on me. I also don't want to make this a huge hassle for everyone, and I don't suspect that they won't pay, but I want to have all of my basis covered. What has worked and what has NOT worked for you guys? Any horror stories? Any advice would be great! Stormy

Re: BUSINESS 101 side of recording....adviced need 

It doesn't have to be complicated as far as the recording side of it is concerned. You agree on a total fee for the studio, your time, rentals, additional musicians,etc. Get 30-50% upfront to start, another payment when you start to mix, and the final payment when you deliver the masters. And, don't deliver the masters until you're all paid. One page contract. Easy. If you're talking about points or a share in the publishing, then that's a whole 'nother deal entirely, and THAT'S where things can get real messy, and can take so many different forms that you really need to consult an attorney.

Re: BUSINESS 101 side of recording....adviced need 

So if these guys plan to make this into an album, I most certainly want to have my name and my studio on the cd credits. How should I go about doing this? Should I just state in the contract that my name and studio must be printed in the credits? In the one page contract that you suggested, what details need to be in there? Stormy

Re: BUSINESS 101 side of recording....adviced need 

Basically, anything that can be controlled should be in the contract: rates, fees, budget, schedule, payment, how your credits read, etc. For instance, you'll need to come up with a schedule so that you're not working on this record for the next 2 years for 3 months' worth of money. Agree on how many hours/days/weeks you expect the project to take, and then if (when) it goes beyond that, then they have to pay more. Simple. That way, it's the band's decision on how to best spend their time. You'll probably end up throwing in some time (everybody does) but you need to have the basic structure agreed upon so the project doesn't get out of control. Good luck, hope this helps!

Also, does the contract need to be notorized in Stormy

oops.....notorized in order to stand up in court? Or are their signatures enough? Hopefully I will never have to go to court for something like this. Stormy

Very simple: dont let a single second of recorded music go out of your studio until you are 100% paid.