Gallery Agreement
Loans: terms of permanent or temporary loan of works sent; for the prior written consent of the artist; for the use of loan program contracts; for payment to the artist; % of gallery rental fees. Advances: arrangements for the payment of money to the artist before the sale/rental fee; if and when to repay. Who is responsible for damage to the work ordered? Insurance deductible deducted by whom? Is it ethical for a gallery to store items on consignment? 17. Miscellaneous. Any modification, deletion or addition to this Agreement must be made in writing and signed by both parties. This Agreement constitutes the entire agreement between the parties. 7. Fiduciary Duties. Ownership of each of the works remains in the name of the artist until the artist has been paid in full.
With payment, the property then passes to the buyer. All profits from the sale of the works will be held in trust for the artist until full payment by the artist. The gallery pays all amounts due to the artist before the proceeds of the sale can be made available to all creditors of the gallery. 15. Security. Ownership and a security right in all works of art or proceeds of sales delivered under this Agreement are reserved to the Artist. The works are not the subject of any claim by the gallery`s creditors. The Gallery undertakes to issue and provide the Artist with a financial report and other documents in the form requested by the Artist that the Artist may need to perfect his security on the Works. In the case of the purchase of a work of art by a party other than the gallery, ownership passes directly from the artist to the buyer. In the event of a purchase of a work of art by the Gallery, ownership will only be transferred to the Artist after full payment of all amounts due under this Agreement. The Gallery acknowledges that it has no rights and may not pledge or encumber any work of art in its possession, nor incur any costs or obligations for which the Artist may be held responsible.
These agreements protect both, especially in case of unforeseen circumstances, they also provide a remedy in case of breach of the agreement. Handshake agreements are dangerous for both parties and I avoided them. Only once was there a problem between me and a client, and our agreement protected me financially. Exhibition contract. Most often, galleries undertake to exhibit works for a certain period of time and to process sales that may arise during the exhibition period on a commission basis; these agreements will be discussed in the next issue. Promotion: Is the artist required to provide images, information and/or promotional material to the gallery, and when should it be made available? Is the work exhibited in the gallery and, if so, what are the exhibition dates or how often is the work exhibited? 6. Accounting. It is a good business practice for the artist and the gallery to regularly compare the inventory list. Remember that the work on consignment belongs to the artist. The investment of time, material and overhead means that it is up to the artist as well as the gallery to take into account the inventory. 18. Governing Law.
This Agreement is subject to and in accordance with the laws of the State of __________ (Suppose the gallery is in New York, the artist is in London, who is supposed to know if the agency is expanding to the US, UK, Canada, Europe, the world? Is the artist free to engage in another gallery (in London or Tokyo)? * Who determines the appearance and layout of the exhibition – the gallery, you or the two of you? Usually, the gallery takes the lead in this case. Either way, it`s always a good idea to discuss the issue in advance. “Approval sales” are a courtesy to special customers. For example, a gallery may send works to a potential collector to look at at at home. Discuss approval sales with the gallery. The gallery may have a clear guideline that they are used to. There should be a short period (usually a week or less) for all approval periods. The gallery`s insurance should cover all works sent after approval. In addition to its legal services, Arts Law also has a searchable bank of standard contracts offered for sale on its website.
In order to further support low-income artists and organizations in drafting contracts, their model contracts contain not only model formulations for each clause, but also explanations. The use of written gallery contracts makes economic sense, especially for a gallery with a significant turnover of sales and exhibitions. .