Royalties & Statements
Authors should never have to guess how their earnings are calculated. The publishing agreement should make the financial terms clear.
What authors should be able to understand
The precise royalty structure is defined by the publishing agreement for each title. It should clearly identify the basis of calculation and the timing of reporting and payment.
Royalty Basis
The agreement identifies whether royalties are calculated from a specified retail-price basis, net receipts, or another defined basis.
Formats
Print and digital editions may have different economics and therefore different applicable royalty terms.
Sales Reporting
Statements should identify the reporting period and the sales information used to calculate royalties.
Deductions
Any deductions or adjustments affecting royalty calculations should be stated clearly in the agreement.
Payment Schedule
The agreement specifies when statements are issued and when earned royalties are paid.
International Sales
Where applicable, the agreement explains how sales outside the primary market are treated.
Transparency begins with the contract.
Veritas will not use a single generic royalty promise in place of a clear publishing agreement. Authors should know the applicable terms before publication, including the royalty basis, reporting period, payment schedule, and any relevant adjustments.
For exact percentages and contractual terms, authors should rely on the publishing agreement provided for their individual title.