Ok, since I noticed that a lot of people here has been using the terms: 'contract' and 'agreement' -- and assumes both are the same,and concern about legalities seemed to be brought up, I think it's also important to clarify these terms and need to be said.
The thing is I think most people always use contract and agreement interchangeably , but legally speaking, they aren't exactly the same.
If you were to define the two,"An agreement is more of an understanding or arrangement between two parties, it may be written or not written. While contract is a Specific agreement with terms and conditions that are enforceable court."
And in this case, I am sure that the document,.the written document they provided to you is a PUBLISHING AGREEMENT and not a CONTRACT -- additionally the publishing agreement is NON EXCLUSIVE to begin with which explains why you can still sign up with another publisher and even sign up an exclusivity deal with another publisher without any legal problem,
To explain it further, the one you're signing has a "PUBLISHING AGREEMENT" as a header -- which means that you aren't signing a contract. additionally, an agreement doesn't have terms written on it.
The main purpose of a written agreement is simply for both parties to consent to do or refrain the other from doing something.Nothing requires the parties to adhere to the terms of the agreement aside from the honor system -- which is why you can terminate it even if the effective date of that document is still active the only purpose of the time written on it is that both parties simply acknowledge the agreement as they can for that amount of time and if one decided to terminate it they can because an agreement is technically an informal arrangement to begin with. An agreement can’t be enforced in court through litigation because it lacks the elements of a contract.It has absolutely no legal force
which means, THEY(The other party) CANNOT SUE YOU just for terminating the agreement or because you signed up with another publisher because it never stated anything about the termination. and also because they have already stated that it was a NON EXCLUSIVE arrangement, THEY CANNOT REFRAIN YOU, also, from signing up to another publisher either. It is also good to take note that a written agreement lacks the elements of a contract and has an absolutely no legal force. BUT it’s often the beginning of a contract negotiation. and since the document that they provided was only a written agreement, you could take it as it means that document, didn't proceed to a contract signing, therefore there is no legal binding process that happened between you and the other party.
A CONTRACT on the other hand is a formal arrangement between the two parties and now contains Terms and Conditions that can be negotiated by both parties until there will be an agreement in the terms. -- which isn't necessarily written in a written agreement.
This time, the terms is now written and now considered as a document that enforces a legal binding for both parties. Both parties must now comply to the terms that they have agreed upon. That's the only time when terms and conditions, royalties, obligations (etc) and even the guide for termination WILL BE WRITTEN and because IT HAS TO BE WRITTEN within the contract. This time, BOTH PARTIES CAN SUE THE OTHER if the other fails to comply their obligations, or failure to adhere to the terms written on the contract --- which is why this is the document that you should review carefully and negotiate as much as possible before signing.
Although both documents (written agreement and contract) may require a signature of both parties, the purpose of the signature in these documents works differently.
In an agreement, it may work more of only an 'assurance' that you have agreed with the condition or a proof that you gave your consent to the other party on doing something. On a contract on the other hand it works as a legal proof that you have read,understood and agreed to the written terms in that document AND YOU WILL COMPLY to the terms agreed upon.
I hope people will understand more about the difference between the two documents with that said, I tried my best to explain everything as simple as I can, and I hope I can enlighten people with this lengthy explanation also it's best to review which type of documents that requires a signature too because like I said earlier, your signature works differently.