Yes/No

Seek independent professional legal advice.
 

Check the duration of the deal

Recording contracts are often made up of an initial period, usually one year or one album, followed up with a number of options for further years/albums. Options give the company 'first refusal' on further product.

Advances and royalties should increase as each successive option is taken up.
 

Minimum Commitment

Check what your minimum commitment to the record company is. (For example, how many recordings you have to 'make for release' per year).
  

Check what your advances and other recoupable costs are.
  

Check for cross collateralisation.
 

Royalties

Check your percentage royalties on sales.

Are you getting paid against 100% of sales or less?
  

Check which territories you have signed for.
 

Release commitment

Check that the record company actually has a commitment to release your recordings.