ART CONSIGNMENT AGREEMENT

Transcription

1 Keith & Kim Stubblefield OWNERS 100 E. MULBERRY COLLIERVILLE, TN w c GalleryEastArt ART CONSIGNMENT AGREEMENT Artist Information: Name Address Phone Number FINE ART The Artist and the Gallery hereby enter into the following Agreement: 1. Agency; Purposes. The Artist appoints the Gallery as agent for the works of art ( the Artworks ) consigned under the Agreement, for the purposes of exhibition and sale. The Gallery shall not permit the Artworks to be used for any other purposes without the written consent of the Artist. 2. Consignment. The Artist hereby consigns to the Gallery and the Gallery accepts on consignment, those Artworks listed on the inventory sheet provided by the Artist. Attached hereto. 3. Warranty. The Artist hereby warrants that he/she created and possesses unencumbered title to the Artworks and that their descriptions are true and accurate. 4. Duration of Consignment. The Artist and the Gallery agree that the initial term of consignment for the Artworks is to be up to 3 months from the date delivered to the gallery, unless otherwise agreed to in writing. 5. Display. All works submitted for display shall be display-ready adhering to the policies of the gallery. The gallery maintains sole control over the display, placement, lighting and labeling of the artwork under consignment. A gallery representative shall be present at all times during business hours when the works are displayed. Art for hanging in the gallery shall be appropriate for the gallery s system of hanging to include a tautly stretched wire hanger attached within 5 inches of the top of the frame. If unframed (gallery wrapped) works are submitted all edges shall be completed utilizing the medium used to create the work. a) All matted works, unframed shall be protected by a plastic sleeve or shrink wrap to prevent soil and or damage. b) All cards shall be in cellophane sleeves to prevent soil and/or damage.

2 6. Transportation Responsibilities. Arrangements for, packing and shipping charges, insurance costs, other handling expenses, and risk of loss or damage incurred in the delivery of Artworks from the Artist to the Gallery and in their return to the Artist shall be sole the responsibility of the Artist a) Additional Provisions. If anyone other than the Artist is to pick up works of art, written authorization from the artist must be presented by the person picking up the works. All responsibility for the safe transfer of the works remain with the Artist. 7. Responsibility for Loss or Damage, Insurance Coverage. The Gallery shall not be responsible for the safekeeping of consigned Artworks while they are in its custody. Due to the Gallery s inability to establish value of consigned Artwork for insurance purposes, the Artist shall be required to maintain insurance coverage at his or her discretion. The Gallery assumes no liability for losses or damages that may occur to the work of art or the framing of the art. 8. Fiduciary Responsibilities. Title to each of the Artworks remains with the Artist until the Artist has been paid the full amount owing him or her for the Artworks; title then passes directly to the purchaser. The Gallery shall pay all amounts due the Artist before any sale proceeds are made available to creditors of the Gallery. 9. Pricing; Gallery s Commission; Terms of Payment. The Gallery shall sell the Artworks only at the Retail Price specified by the Artist to include the Gallery s commission of 40%. Any change in the Retail Price or in the Gallery s commission must be agreed to in advance by the Artist and the Gallery. 40% Gallery and 60% Artist split applies to discounted sales agreed upon between the parties. Payment to the Artist shall be made by the 20th of the month following the month of sale. Artist payouts of less than $20 shall be accrued until that amount is reached or no later than three months. Installment arrangements may be made if agreeable with both the Gallery and the Artist. Artwork is held up to three months by Gallery until full payment is received. Artist s 60% commission is to be paid to Artist as installment payments are received by Gallery. 10. Title to Artwork. Title to each of the Artworks remains with the Artist until the Artwork is sold; title then passes directly to the purchaser. Title passes directly to the gallery for items not picked-up by the Artist within 5 business days following the end of the consignment period or other mutually agreed upon date. 11. Removal from Gallery. The Gallery shall not lend out, remove from the premises, or sell any of the Art works on approval without first obtaining written permission from the Artist. 12. Promotion. The Gallery shall use its best efforts to promote the sale of the Artworks. The Gallery agrees to provide adequate display of the Artworks and to undertake other promotional activities on the Artist s behalf. The Gallery shall identify clearly all Artworks with the Artist s name and the Artist s name shall be included on the customized receipt of each of the Artworks.

3 13. Reproduction. The Artist reserves all rights to the reproduction of the Artworks except as noted in writing to the contrary. The Gallery assumes the right to use images of art work to publicize and promote the Artworks through social media, web page, print advertising and newsletters. In every instance of such use, the Artist shall be acknowledged as the creator and copyright owner of the Artwork. 14. Accounting. A statement of accounts for all sales of the Artworks shall be furnished by the Gallery to the Artist on a regular basis as indicated under section 9 of this agreement. The Artist shall have the right to inventory his or her Artworks in the Gallery and to inspect any books and records pertaining to sales of the Artwork. 15. Termination of Agreement. Not with standing any other provision of this agreement, the Agreement may be terminated at any time by either the Gallery or the Artist by means of written notification of termination from either party to the other. In the event of the Artist s death, the estate of the Artist shall have the right to terminate the Agreement. Within thirty days of the notification of termination, all accounts shall be settled and all unsold Artworks shall be returned by the Gallery. 16. Procedures for Modification. Amendments to this Agreement must be signed by both Artist and Gallery and attached to this Agreement. Both parties must initial any deletions made on this form and any additional provisions written onto it. 17. Miscellany. This Agreement represents the entire agreement between the Artist and the Gallery. If any part of this agreement is held to be illegal, void, or unenforceable in relation to any other part: in such case, the document shall be construed as if such invalid or unenforceable provision had not been included.. A waiver of any breach of any of the provisions of this Agreement shall not be construed as a continuing waiver of other breaches of the same provision or other provisions hereof. This Agreement shall not be assigned, nor shall it inure to the benefit of the successors of the Gallery, whether by operation of law or otherwise, without the prior written consent of the Artist. 18. Choice of Law. This Agreement shall be governed by the law of the State of Tennessee. 19. A copy of this agreement must be on file at Gallery East Fine Art, Collierville before art is displayed. This only needs to be filed once unless changes to this agreement are made. Signature of Artist Date Signature of Authorized Representative of Gallery East Fine Art Date 4/2018

4 LIST OF INVENTORY ON CONSIGNMENT INCLUDES GALLERY S 40% COMMISSION **HEIGHT BY WIDTH You may copy this page for additional art submitted. Please include a short but interesting biography and Artist Statement with this contract.

5 Form W-9 (Rev. November 2017) Department of the Treasury Internal Revenue Service Request for Taxpayer Identification Number and Certification Go to for instructions and the latest information. 1 Name (as shown on your income tax return). Name is required on this line; do not leave this line blank. Give Form to the requester. Do not send to the IRS. 2 Business name/disregarded entity name, if different from above Print or type. See Specific Instructions on page 3. 3 Check appropriate box for federal tax classification of the person whose name is entered on line 1. Check only one of the following seven boxes. Individual/sole proprietor or single-member LLC C Corporation S Corporation Partnership Trust/estate Limited liability company. Enter the tax classification (C=C corporation, S=S corporation, P=Partnership) Note: Check the appropriate box in the line above for the tax classification of the single-member owner. Do not check LLC if the LLC is classified as a single-member LLC that is disregarded from the owner unless the owner of the LLC is another LLC that is not disregarded from the owner for U.S. federal tax purposes. Otherwise, a single-member LLC that is disregarded from the owner should check the appropriate box for the tax classification of its owner. Other (see instructions) 5 Address (number, street, and apt. or suite no.) See instructions. 6 City, state, and ZIP code 4 Exemptions (codes apply only to certain entities, not individuals; see instructions on page 3): Exempt payee code (if any) Exemption from FATCA reporting code (if any) (Applies to accounts maintained outside the U.S.) Requester s name and address (optional) 7 List account number(s) here (optional) Part I Taxpayer Identification Number (TIN) Enter your TIN in the appropriate box. The TIN provided must match the name given on line 1 to avoid backup withholding. For individuals, this is generally your social security number (SSN). However, for a resident alien, sole proprietor, or disregarded entity, see the instructions for Part I, later. For other entities, it is your employer identification number (EIN). If you do not have a number, see How to get a TIN, later. Note: If the account is in more than one name, see the instructions for line 1. Also see What Name and Number To Give the Requester for guidelines on whose number to enter. Part II Certification Under penalties of perjury, I certify that: Social security number or Employer identification number 1. The number shown on this form is my correct taxpayer identification number (or I am waiting for a number to be issued to me); and 2. I am not subject to backup withholding because: (a) I am exempt from backup withholding, or (b) I have not been notified by the Internal Revenue Service (IRS) that I am subject to backup withholding as a result of a failure to report all interest or dividends, or (c) the IRS has notified me that I am no longer subject to backup withholding; and 3. I am a U.S. citizen or other U.S. person (defined below); and 4. The FATCA code(s) entered on this form (if any) indicating that I am exempt from FATCA reporting is correct. Certification instructions. You must cross out item 2 above if you have been notified by the IRS that you are currently subject to backup withholding because you have failed to report all interest and dividends on your tax return. For real estate transactions, item 2 does not apply. For mortgage interest paid, acquisition or abandonment of secured property, cancellation of debt, contributions to an individual retirement arrangement (IRA), and generally, payments other than interest and dividends, you are not required to sign the certification, but you must provide your correct TIN. See the instructions for Part II, later. Sign Here Signature of U.S. person General Instructions Section references are to the Internal Revenue Code unless otherwise noted. Future developments. For the latest information about developments related to Form W-9 and its instructions, such as legislation enacted after they were published, go to Purpose of Form An individual or entity (Form W-9 requester) who is required to file an information return with the IRS must obtain your correct taxpayer identification number (TIN) which may be your social security number (SSN), individual taxpayer identification number (ITIN), adoption taxpayer identification number (ATIN), or employer identification number (EIN), to report on an information return the amount paid to you, or other amount reportable on an information return. Examples of information returns include, but are not limited to, the following. Form 1099-INT (interest earned or paid) Date Form 1099-DIV (dividends, including those from stocks or mutual funds) Form 1099-MISC (various types of income, prizes, awards, or gross proceeds) Form 1099-B (stock or mutual fund sales and certain other transactions by brokers) Form 1099-S (proceeds from real estate transactions) Form 1099-K (merchant card and third party network transactions) Form 1098 (home mortgage interest), 1098-E (student loan interest), 1098-T (tuition) Form 1099-C (canceled debt) Form 1099-A (acquisition or abandonment of secured property) Use Form W-9 only if you are a U.S. person (including a resident alien), to provide your correct TIN. If you do not return Form W-9 to the requester with a TIN, you might be subject to backup withholding. See What is backup withholding, later. Cat. No X Form W-9 (Rev )