Payment Plan Payments
Resume:
As we discussed, we provide several options for our authors to help pay the subsidy fee. Usually, we require 40% of the fee upon signing of the contract, 40% of the fee upon the author's approval of the edited manuscript (about one to two months after the first payment) and 20% of the fee upon the author's approval of the page proofs (about two to three months after the second payment). The period between payments can be extended, but of course, this would increase the time the book is in production.
You may also pay the subsidy fee in equal monthly installments over a 15-month, 18-month or 24-month period. This option allows you to make the smallest down payment and to have the smallest monthly payment. With this plan, we begin work on your book when we receive your signed contract and a first payment. Your first payment can be any percentage of the total fee. However, the minimum first payment is $168. You then pay the balance of the fee over 15 months, 18 months or 24 months WITHOUT INTEREST.
In your case, your monthly payments will be as follows based on a first payment in one of the following amounts:
NUMBER OF MONTHLY PAYMENTS BOOK PRODUCED IN
First Payment of 15 monthly payments of 170 working days,
$1500 $180
18 monthly payments of 170 working days
$180
24 monthly payments of 240 working days
$112.50
First Payment of
$1,000
14 monthly payments of 170 working days, $215 and one final payment as proposed
of $190
17 monthly payments of 240 working days
$175 and one final payment
of $225
23 monthly payments of 260 working days
$135 and one final payment of
$95
First Payment of
$500
14 monthly payments of 240 working days
$245 and one final payment
of $270
17 monthly payments of 260 working days
$205 one payment
of $215
23 monthly payments of 320 working days
$155 and one final payment
of $135
You can also make 25 payments of $168 for a 320 working day schedule.
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