It is important that all contracts are comprehensible, or at least explicable, to both parties. It is also important that they reflect operational realities, the way in which the parties are likely to work together. Finally the publishing arm of a learned society must always remain aware that it has a duty to protect the society should legal action be brought as a result of an infringement of publishing law. Book contracts must allow for what happens if the author does not deliver on time and, later on in the process, if a new edition is required. Contracts with a journal editor must make clear when the relationship terminates in normal circumstances and what is to be done to terminate a relationship if something goes wrong.
Contracts are to some extent instructional.
They represent an agreement between publisher and author about their respective roles in the publishing process and about the nature of the publication, what it is, how many pages, and when it is to be handed in. They are also concerned with the financial relationship if there is one. If royalties are given it is imperative that the contract makes clear what the percentage due to the author is based on. It is also important to be clear about the accounting period, the period during which the sales are made on which the royalties are calculated, and also the date on which the royalties are paid. The contract is written in the context of the Law of England and Wales and assumes a journal that is in print with an electronic equivalent.