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Tanaz
04-13-2011, 09:33 PM
Hi all,

Recently I received an offer for representation from an agent and requested a copy of the agency contract. One clause confuses me slightly - especially the bolded part.

"This agreement is effective immediately and continues in effect until either you or I have canceled it, which either may do by giving the other sixty (60) days prior written notice of such cancellation, provided that I will continue to function as agent and to receive commission on all contracts negotiated during the life of this agreement, said commission being hereby assigned and transferred to us as an agency coupled with interest."

I understand that it is standard practice for agents to continue receiving commissions for work they sold during the agreement. However, does "coupled with interest" mean I would have to pay 15% + an extra interest percentage to the agency? If yes, how much is this extra interest typically?

Will appreciate any help on this!

zegota
04-14-2011, 12:56 AM
I am not a lawyer by any means, but I'm almost positive that "couple with interest" means "coupled with an interest (a subject about which one is concerned, i.e., an interest in representing your novel)."

A quick google search shows that this phrase has specific legal meaning, so you may want to look into it more. But it doesn't have anything to do with interest (Money paid regularly at a particular rate for the use of money lent).

DennyCrane
04-14-2011, 02:38 AM
Simply email the agency for clarification. I'm sure they'd be happy to discuss it!

Hillgate
04-14-2011, 02:42 AM
Simply email the agency for clarification. I'm sure they'd be happy to discuss it!

What he said

scope
04-14-2011, 04:03 AM
Ask the agent to clarify and be sure it's stated in the conract as such in language agreeable to you. Of course this assumes you are not using a lawyer.

Tanaz
04-14-2011, 12:58 PM
Thank you all!