Contract Duration Details

You can specify the duration of your Contract by storing its Start and End Dates, as well as the Retention and Collection Periods' End Dates.

These dates are just for reference, and do not affect whether this Contract's Statement will calculate or not.

When populating these fields, we'd also recommend completing the Event Notifications tab in your Settings, that will trigger an email notification when a Contract's End Date, Retention Period End Date or Collection Period End Date is due in 30 days and 60 days. The email will be sent once per month, on the 1st day of each month.

Additionally, Contracts are categorised as Expired, Retention, or Collection, based on their End Date, Retention Period, or Collection Period End Dates, correspondingly. This way we aim to help users to quickly identify the status of their Contracts at a glance. Please note that a Contract with an "Expired" status only indicates that the End Date has been reached and will not have an impact on royalty calculations.