Hi.
Looking to get some advice on a contract that I may be about to enter into. I'll keep this as hypothetical as possible for obvious reasons.
Short version: I have been asked by a company to provide some design work for a project which is not yet funded. The hope is that my work, in addition to work produced by this company will be enough to secure development funding from an investor/government agency. At which point, I will be payed for the work done.
I have been asked to sign an agreement, part of which states "The consultancy payment and the production of any work is on a deferred basis. Payment will be made based on investment value of development funding."
At this point in time we have not agreed on the ammount of work required, or any hourly/total fees. The nature of the project means that this is likely to be quite open-ended and hard to define.
So, before I sign (this is a really interesting project, and one that I'd like to accept), any advice on the best way to proceed? I have always been a stong believer in 'no design work for free' - but this one has me stumped. As a final point, I'll be working under a non-disclosure agreement, which means that I will not be able to use the work produced for my own promotional/portfolio purposes. So the only tangible benefit for me would be the financial reward (if any!)
All thoughts and advice greatly appreciated.
Andy.