Because of the fact that societies are often behind in their royalty payments, our agreement includes a post-term collection period. Payments often come in after the term has ended for streams/usage that occurred during the time of agreement.
This means that if you cancel on January 1, 2014, we can collect any payments that were EARNED (not necessarily paid) before that date. However, we can only collect those payments until January 1, 2015.
Why do we receive payments for you after you cancel? This is not because we are still claiming, but because companies do not know who else to pay when publishing agreements are terminated. We are sure to reach out and let you know. In effect, this is a great way to hold your new publisher accountable for fully registering and collecting on your catalog.
We have an extensive explanation of our terms of service on our sign up page here. Just click 'terms of service' at the bottom.