Terms and Conditions for Artists Terms and Conditions for Producers promoters terms & conditions

Terms and Conditions for Producers


Akamusic operates the web site www.Akamusic.com, which enables artists to publish their music on the site and which offers the web site users the opportunity to find out about these artists and listen to their music. The objective is to give the User the opportunity to back the artists and their music.

When a Member finds an artist that he or she believes in or has confidence in, he or she has the option of obtaining a “share” in this artist. As soon as members acquire shares in an artist, they will be called “Producers”.

The value of a share is 5€.

When an artist has issued 10,000 / 3,000 shares, which means that the total sum of money that has been allocated is equal to / has reached 50,000 / 15,000 euros (we will refer to this latter sum as the “Objective”), Akamusic will use the total budget to finance the production costs of the album / single, manufacture the CD and send it to the Producers.

After the CD has been recorded, the Producer will receive a limited edition / collector of this CD for each share bought.

From then on the Artist, the Producers and Akamusic will be considered to be in a business relationship. This means that the net revenue generated by the sales will be shared between the Artists, all the Producers concerned and Akamusic.

The Producers appoint Akamusic to sign the artist’s contract.

The distribution of the net receipts between the Artist, Producers and Akamusic is as follows:

  • The Artists: 40% of net receipts
  • The Producers: 40% of net receipts
  • Akamusic: 20% of net receipts

Net receipts = Gross receipts – VAT - Royalties – Manufacturing and distribution costs

 


1. Definitions

The terms listed below mean :

Akamusic:

The Company under Belgium law ,Akamusic

Contract and registration:

The moment when the user confirms acceptance of the terms and conditions and officially registers for the Akamusic programme by filling in the registration form

The terms and conditions:

The present terms and conditions and the applicable laws

The Artist:

The Artist, composer, author, whether or not a group of artists, composers or authors, making the recordings of works of music

The Share:

A declaration of confidence in the success of an Artist. Each share has a value and a price 5 €

Downloading Portal:

The Akamusic web site listing the artists that have recorded a CD and from where the artists’ music can be downloaded

The Objective:

The moment when Producers have bought all the available shares

The Album / Single:

The recording made by the artist that has at least 3 (three) tracks (for the Single) and 10 tracks (for the album)

The Net Receipts:

The actual revenues collected by Akamusic as trading profit and from agreements made with third parties, less all the associated costs and taxes

The Title:

A piece of music recorded or that will be recorded by the artist with the aim of creating one or more Recordings

The User:

Any User of the Akamusic web site, the Internet address of which is www.Akamusic.com, as well as any Users of the web sites associated with it, which includes the Artist Profile pages and the Downloading Portal

The Member:

A registered User

The Producer Page:

The Producer’s personal page. It gives a preview / overview of the producer’s personal details and the shares he or she has acquired. The page can only be accessed by the Producer using a password and a  “login”

The Producer Profile:

This is the producer’s page that other users can access. It shows all the shares acquired by the producer and may be used to make any comments and send personal messages

The Producer:

A member that believes in / has confidence in an artist and his or her success, and who in addition buys at least one share in the Artist’s music  

The Balance available to the Producer:

The total amount (in euro) available to a Producer for any purchase on  www.akamusic.com or that may be withdrawn from www.akamusic.com and be transferred to his or her own bank account or credit card

Intellectual Property:

Any patents, copyrights, registered trademarks, industrial plans and trade secrets

2. Purpose of the contract in question

The purpose of the contract in question is the Producer’s use of his personal and profile pages located on the web site www.Akamusic.com.

The rights and obligations of the parties to the contract are contained in the general terms and conditions of use.

 


3. The Producer’s rights

The Producer will have the following rights, after accepting the present contract and the general terms and conditions of use :

  1. The Producer is authorised to use the preview / overview and “Producer” profile pages on the web site www.Akamusic.com and may in addition access all the web site content in accordance with the general conditions of use. Akamusic is not responsible for the use the Producer may make of the aforementioned pages and contents.
  2. The Producer will personally decide whether or not to buy a share in one or more artists whose music is published on the web site. The Producer may buy the number of shares he or she wishes in an Artist, the number of shares per artist being limited to a total of 10,000 for an Album and 3,000 for a Single, however many Producers may share them.
  3. The Objective will be reached when the 10,000 shares (album) or 3,000 shares (single) of an artist have been bought by one or more producers, which means that the budget of 50,000 € for the album or 15,000 € for the Single has been reached. While the Objective has not been reached and only up to that time, the Producer may either withdraw his or her shares or transfer them to another artist.  
  4. When the Objective has been reached, Akamusic will record the album / single with the Artist concerned. The Producer will receive one limited edition of the Artist’s CD for each share bought in the Artist.
  5. The Producer has rights to the aforementioned revenue while Akamusic holds the distribution rights to the Artist’s CD, which will be for a period that will be at least equal to 5 (five) years.
  6. The remuneration the Producer is entitled to on the basis of this section is added to the Producer’s balance on Akamusic twice yearly. An overview of revenue is available on the Producer’s “Preview / Overview” page.
  7. At any time, and on condition that the Producer’s balance is greater than 1 €, a Producer may withdraw money from his or her “Producer’s balance” and transfer it to his or her own bank account or credit card. A Producer may withdraw money by clicking on the button “Pay out” on the preview / overview page. The costs of withdrawal are 1€ for each withdrawal. The money will be transferred within 2 weeks of the request being made.
  8. The Producer acknowledges through the present terms and conditions that he or she will be entirely responsible for any taxes, interest payments and / or fines occurring as a result of any remuneration received from Akamusic. The Producer also agrees through the present terms and conditions to compensate and guarantee Akamusic with regard to any direct or indirect losses, costs and liability proceedings that may be “directed” against Akamusic by any third party as a consequence of the fact of or in connection with the use of the web site by the Producer

4. The Producer’s obligations

  1. The Producer agrees to complete the registration form in full.
  2. The Producer is authorised to register only after having agreed to the conditions of use. The Producer guarantees that he or she is legally able to conclude this contract and will compensate Akamusic in respect of any claims from third parties and resulting from a failure / lack of authorisation / entitlement of any nature whatsoever.
  3. The Producer agrees to both answer and provide the necessary documents in relation to any questions Akamusic may have with regard to any registration problems.
  4. The Producer agrees to pay the sum of 5€ / share to Akamusic when buying a share. Payment may be made by credit card, “PayPal” or where possible by means of electronic banking .

5. Akamusic’s rights and obligations

  1. Akamusic agrees to manage, separately from its own property / assets, all the payments received from the Producer until such times as the Objective has been reached. Akamusic has named a third party to manage the money/ funds until such times as the Objective has been reached.  
  2. After the Objective has been reached for a particular artist, only Akamusic is authorised to make use of the budget. With the artist, Akamusic will use the budget with the artist to produce, burn and send out the CD and will use the services of a third party for this purpose.
  3. Akamusic agrees to produce 1limited editions (collector) of a CD.
  4. All rights to the CD tracks, which in particular include intellectual and commercial property rights, are exclusively the property of Akamusic.
  5. Any information concerning the Producers that may be described as confidential will be kept strictly confidential by Akamusic.

6. Intellectual property rights

  1. The Producer agrees not to infringe any intellectual property rights with regard to trademarks, commercial names, registered trademarks, copyright owned by Akamusic and in addition will not distribute, modify, reproduce or use trademarks, plans / models and copyrights in another way.
  2. All trademarks and registered trademarks belonging to third parties are reserved.

7. Termination / end of the contract

  1. The Producer may terminate the present contract at any time and without giving any reasons.  
  2. Akamusic may terminate the present contract without prior notice or warning:
    1. if the Producer has not completed the registration form “honestly and in good faith”
    2. if the Producer defaults in spite of a warning and does not remedy the problem within a reasonable period of time
    3. and on important grounds, especially should the contract or the conditions of use have been breached.
  3. If the contract is terminated before the Objective has been reached, the Producer has the right to reimbursement of the amount paid for one or more Artists, after the costs for each share have been deducted.
  4. Producers must keep their account active in order to receive their revenue.

8. Liability / non liability

  1. Each party guarantees the other party against claims from third parties arising out of any inaccurate declaration resulting from a fault or from a serious negligence on the part of the guarantor party with regard to any service agreed in the present contract or in the conditions of use.
  2. Akamusic will not be held liable should its web site (www.Akamusic.com) or associated web sites (e.g. that of the artist) not be accessible, regardless of why the web sites are not accessible.
  3. In addition as regards the production of the CD, the parties agree that Akamusic will not be held liable for any delays or the lack of compliance with the obligations outlined in point 4 that may result from either force majeure or a breach of the law by the artist or by any third parties, unless the production was delayed or not executed either by intent or because of serious negligence on the part of Akamusic.