Company Info

Contract Terms

Summary of Masterfile's Contract Terms with Artists

The following outline of Masterfile's contract terms is for reference only. It does not constitute an offer of representation. The outline is necessarily incomplete and does not affect the terms and conditions of a properly executed contract in any way. This information is subject to change without notice. The terms of individual contracts may vary from the information presented in this outline.

1. The artist warrants ownership of all copyright in the images and guarantees that they are original creations.
2. The artist appoints Masterfile as his/her exclusive agent for licensing accepted images (and similars) throughout the world.
3. The artist is responsible for captioning and delivering images in a manner that is defined by Masterfile.
   1. Model and property releases must accompany the images, where applicable.
   2. Any RM images that have been used prior to submission to Masterfile must be accompanied by complete usage data.
4. All accepted images are published on the website within 90 days of initial receipt by Masterfile.
5. There are NO FEES to the artist for participation in promotional materials or the website.
6. Masterfile reports all licenses issued for the artist's images each month, including all relevant usage data to give the artist full disclosure of how his/her images are being used.
7. Masterfile pays a 40% royalty to the artist of amounts received from its direct clients (principally in Canada & USA), its licensing agents and its authorized distributors. Royalties are paid monthly. The royalty rate is the same for RM & RF images.
8. There are NO OTHER FEES charged to the artist in normal circumstances.
9. The artist has the right to audit the accounts of Masterfile. If errors are found in an amount greater than 1% of royalties payable, Masterfile pays for the audit (it hasn't happened yet!).
10. The standard term of agreement is three years, subject to annual production quotas.