Art Dealer Consignment Agreement
1. The Agency`s area of activity. Der Künstler ernennt die Galerie als exklusiver/nichtexklusiver Agent des Künstlers in folgendem geografischen Gebiet: __________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ Diese Agentur gilt nur für Kunstwerke, die der Künstler während der geltenden Vereinbarung eingereicht hat. The gallery documents the receipt of all the works of art sent. 16. The duration and end of the shipment. The artist and the gallery agree that the initial delivery time of the work of art will continue until the artist will not request the return of the work before that date, unless the agreement is violated by the gallery. Subsequently, the agreement will be maintained from one party to the other party until it has been terminated in writing. Within thirty days of the notice of termination, all accounts must be settled and all unsold artwork returned to the artist at the gallery`s expense. The contract automatically ends upon the artist`s death or if the gallery goes bankrupt or becomes insolvent or violates the contract.
3. Commission and expenses. The agreement should indicate which commission should be paid to the gallery and which party is responsible for the costs. It should list z.B. if the gallery or artist is responsible for cash and shipping costs; Insurance and advertising costs, including expenses for exhibitions, catalogues, executives, shares, photographs and advertisements. 1. Agency. The artist grants the gallery the right to exhibit and sell the works of art that the artist rents as part of the agreement.
This scholarship creates an “agency.” The gallery becomes the artist`s agent; it has the power to act on behalf of the artist. An inventory specifically identifies the artwork processed in the agreement. The parties should agree on whether the gallery will be the artist`s exclusive agent and, if so, whether this exclusive agency will apply only to the work of art that lists the inventory or to all the works that the artist creates. The agreement should also specify the duration of the shipment, including the start and end dates, as well as the geographical area covered by the exclusivity agreement. 7. Fiduciary responsibility. This clause relates to the ownership of the work of art and the tax liability of the gallery to the artist. It makes it clear that the mailing work is the property of the artist and cannot be taken care of by the creditors when the gallery goes bankrupt.
10. Security and consignment statutes. According to laws in some states, if a gallery is not late in its obligations to creditors, creditors can seize the art shipped as if the gallery were the owner. Some states, including New York, offer what is known as a refuge for ships of art and explicitly prohibit seizures by creditors. Some states prohibit a gallery from granting a security interest to works of art that the artist gives to the gallery. Other states, including Connecticut and Florida, require the artist to put a sign on the work being shipped, indicating that the work is subject to a delivery contract, and the agreement must provide for certain conditions. The artist`s inability to meet these requirements may allow the gallery creditor to seize the artwork in a security interest that outweighs the artist`s or sender`s ownership interest. Suppose there is a 50/50 agreement and a coin sold for $5,000 to be paid in increments of $1,000 over five months.