How to Set Up Paid To and Paid By Royalty DOIs
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Back to Division of Interest (DOI) / Working Interest (W.I.) Overview
Once you have entered the royalty percentages, qualifiers, and sliding scale percentages, set up the Paid To and Paid By Royalty DOIs to specify the parties who are to receive and pay the royalty. You can create new royalty DOIs within the royalty record (royalty-owned DOIs), or you can link the Paid To and Paid By parties to any DOI that already exists on the same document.
To specify a royalty DOI for the royalty Paid To/Paid By parties in Royalty Detail Window:
1. Navigate to the Paidto fields.
2. Click Link to link the Royalty Paidto parties to an existing DOI. The system displays the Linking Paidto pop-up window and a list of all DOIs that exist on the current document.
3. Click Browse to view details of the highlighted DOI
4. Select the DOI to which you want to link the Royalty Paidto parties.
5. Click Link to link the royalty PaidTo parties to the DOI. The system updates the Royalty Paidto fields and closes the Linking Paidto pop-up window.
6. Click Add to create a royalty-owned DOI for the royalty PaidTo parties. The system displays the Royalty pop-up window.
In the Royalty pop-up window, enter the royalty partners and percentages, as follows:
FIELD | DESCRIPTION |
---|---|
Occ | Upon initial Input/Insert the system automatically assigns an Occurrence (Occ) Number based on the chronological order in which the information was added. Note: The Occurrence (Occ) Number can be re-numbered at any time (if required) to change the display order of the rows. |
Partner | Enter the royalty DOI partner. Note: You cannot set up the same partner twice in the same royalty paid-to DOI, unless one occurrence of the partner has a Trustee. |
Percent | Enter the Paid-to partner’s working interest percentage in the royalty. |
Trustee | Optionally, enter the Trustee DOI partner |
7. Save your work. The system updates the Royalty Paidto information.
8. Click Close to close the Royalty pop-up window and return to the Royalty Detail window.
9. Save your work.
Optionally, click Update to edit an existing Paidto Royalty DOI.
Optionally, click Delete to delete an existing Paidto Royalty DOI.
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