Hi, guys. I hope it's not a problem to open this thread. I am a total noob when it comes to this topic, so it would mean much to me if someone tells me ...

When you make a verbal deal with a buyer, what is the actual process of trade? Money transaction, signatures and stuff?

Hi Darjan

If you have made a verbal agreement with the buyer, then that should form the basis of the contract you should draw up.

Contract should cover what rights are being bought, if it's an Option how long is it for, what is the monetary element and when will it be paid... those sort of things.

Both of you should make sure you are happy with the contract and sign it.

Money should be paid as per the contract.

Hope that helps.

You just mentioned a detail I needed to know.

Thank you, Boss

One piece of advice I have .... is that in ANY screenplay contract, make sure there is a clause that says the writer has first right of refusal to write any future projects that stem from this original one. You can get cut out easily if someone takes a short and they decide to do a feature ...if you don't have this protected. (of course in better words that I just wrote down)