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 A reserve against returns

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Dick Stodghill
Five Star Member
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Dick Stodghill

Number of posts : 3795
Registration date : 2008-05-04
Age : 94
Location : Akron, Ohio

A reserve against returns Empty
PostSubject: A reserve against returns   A reserve against returns EmptyMon Oct 19, 2009 9:50 am

It is of no interest to me but some people might find what Daniel Steven, chairman of the contracts and grievances committee of Mystery Writers of America has to say about reserves against returns and how they affect advances. Most large publishers include them in contracts and they can take a healthy bite out of advances. Steven says a writer and his/her agent and attorney should try to hold the reserve to 25 percent of the advance. Fifteen percent is better for the writer, obviously. If possible, the reserve should be limited to no more than one accounting period (six months).
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