Deals
Deposit
Also called Advance payment, down payment
Part of the fee the promoter pays when the contract is signed, often 50%. It secures the date; the balance follows before or after the show, as the contract says.
Once the deposit is in, the artist side turns down other offers for the date and books travel. On a landed deal, the deposit is often what pays for the flights. For the promoter, the date is now secure.
Example
A €3,000 landed fee with a 50% deposit:
| Payment | Amount | Due |
|---|---|---|
| Deposit | €1,500 | 14 days after signing |
| Balance | €1,500 | 7 days before the show |
On a versus deal the deposit is taken on the guarantee: €2,000 versus 60% with a 50% deposit means €1,000 up front. If the settlement comes to €3,400, the balance is €2,400.
What to watch for
- Deposit and cancellation. The usual rule: if the promoter cancels, the artist keeps the deposit; if the artist cancels, it goes back. The cancellation terms decide.
- A late deposit. The contract can let the artist side release the date if the deposit doesn’t arrive. Put the due date in as a date, such as 15 March, rather than “on signing”.
- Door deals. With no guarantee, a deposit can end up higher than the final fee. The difference goes back to the promoter.
- Invoices. The deposit gets its own invoice, and the final invoice deducts it.
More in Deals
- Agreed costs
- Buyout
- Door deal
- Fee plus
- Gross and net
- Guarantee
- Guarantee plus bonus
- Landed deal
- Offer
- Settlement
- Versus deal
Planning a show?
We book and advance artists for clubs and festivals in Europe.