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Purchase and Sale Artwork Agreement

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Purchase and Sale Artwork Agreement Powered By Docstoc
					                                 CONSIGNMENT CONTRACT
Agreement made this _________ day of the month of ___________, 20_____ by and between
_______________________________________________________                                      (artist)
Located At _________________________________________________________
AND
Brewington’s Potting Shed, located at 73698 100th Avenue, Blooming Prairie, Minnesota, 55917

Definitions:
Agent: Sam and Barbara Brewington / Brewington’s Potting Shed

Agreement:
Agent exhibits and sells the artwork/craftwork. The artist/crafter has created and owns the artwork/craftwork
listed in the List of Inventory and desires to exhibit and sell the same; therefore, the parties agree as follows:

    1. Scope of Agency. The artist/crafter appoints the agent to act as the artist/crafters exclusive/nonexclusive
        agent in the following geographic area: ___________________ for the exhibition and sale of
        artwork/craftwork in the following media:__________________________________________________.
        The Agent shall cover only artwork/craftwork submitted by the artist/crafter while this agreement is in
        force. The Agent shall document receipt of all artwork/craftwork consigned.
    2. Consignment of Inventory. The agent accepts on consignment, the artworks listed on the List of
        Inventory attached to this agreement. Additional lists may be incorporated into this agreement if signed
        by both parties.
    3. Pricing and Terms of Payment. The Agent shall sell the artworks/craftworks only at the retail price
        specified on the List of Inventory. The Agent and the artist/crafter agree that the Agent’s commission is
        to be 25% of the retail price of the artwork/craftwork. Both parties must agree to any change to the retail
        price or the Agent’s commission in advance.
    4. Sales Tax. The Agent shall report and pay all sales tax to the State of Minnesota, Department of
        Revenue.
    5. Discounts. In the case of discount sales, the discount shall be pre-approved by the artist/crafter in writing
        and the Agent’s commission will remain at 25% of the agreed upon discount.
    6. Payment. The Agent shall pay the artist/crafter all proceeds due to the artist/crafter after the 10th of the
        for the prior whole month in which the piece was sold.
    7. Accounting. The agent shall furnish the artist/crafter with an accounting of their sales every 30 days.
        The first such accounting to be given on __________________, 20_____, and after the 10th of the month
        for the prior whole month in which the piece was sold. Accounting shall identify each artwork/craftwork
        piece sold during the accounting period. A complete and final accounting shall be provided in the
        termination of this agreement.
    8. Loss or Damage. The Agent shall be strictly liable for loss or damage to any consigned
        artwork/craftwork from the date of delivery to the Agent until the artwork/craftwork is returned to the
        artist/crafter or delivered to a purchaser. In the event of loss or damage that cannot be restored, the
        artist/crafter shall receive the same amount as if the artwork/craftwork had been sold at the retail price.
    9. Insurance. The Agent shall insure the artwork/craftwork for its full wholesale price. In the event an
        insurance claim is made, the Agent shall pay all deductibles.
    10. Transportation of Artwork / Craftwork. Packing and shipping charges, insurance costs, other handling
        expenses, and risk of loss or damage incurred in the delivery of the artworks/craftworks:
             a. From the artist/crafter to the agent shall be borne by the artist/crafter
             b. From the agent to the artist/crafter shall be borne by the agent
    11. Commission. If an artist/crafter sells any artwork/craftwork directly to a purchaser through contacts
        established initially through the Agent, then the Agent shall be entitled to a commission of 25% of the
        selling price.
    12. Promotion. The Agent shall use its best efforts to promote, display and sell the artwork/craftwork.
    13. Reproduction. The artist/crafter reserves all copyrights to the reproduction of the artwork/craftwork
        except as noted in writing to the contrary. The Agent may arrange to have the artwork/craftwork
        photographed to publicize and promote the artwork/craftwork.
    14. Security Interest. Title to and a security interest in any artwork/craftwork consigned or proceeds of sale
        under this agreement are reserved to the artist/crafter. The artwork/craftwork shall not be subject to
        claims by the Agent’s creditors. The Agent agrees to execute and deliver to the artist/crafter, in the form
        requested by the artist/crafter, a financial statement and such other documents, which the artist/crafter
        may require to perfect its security interest in the artwork/craftwork. In the event of the purchase of any
        purchase of artwork/craftwork by a party other than the Agent, title shall pass directly from the
        artist/crafter to the purchasing party. The Agent acknowledges that it has no right to and shall not pledge
        or encumber any artwork/craftwork in its possession nor incur any charge or obligation for which the
        artist may be liable.
    15. Duration and Termination of Consignment. The artist/crafter and the Agent agree that the initial term
        of consignment for the artwork/craftwork shall continue until October 31, 20___, and that the artist/crafter
        will not ask for return of the artwork/craftwork prior to this date unless the agreement is breached by the
        Agent. Thereafter, this agreement shall continue until written notification of termination from either party
        to the other. Within thirty days of the termination notification, all accounts shall be settled and all unsold
        artwork/craftwork shall be returned to the artist/crafter at the Agent’s expense. The agreement shall
        automatically terminate with the death of the artist/crafter or if the Agent becomes bankrupt or insolvent,
        or breaches the agreement.
    16. Miscellaneous. All modifications, deletions or additions to this agreement must be in writing and signed
        by both parties. This agreement constitutes the entire understanding between the parties hereto.
    17. Governing Law. This agreement shall be governed by and in accordance with the laws of the State of
        Minnesota.


IN WITNESS WHEREOF, the parties hereto have signed this agreement as of the date below.

Artist/Crafter:
                         (Type Name Here)                                           Dated


Agent:
                         Sam Brewington or Barbara Brewington                       Dated
Company Name:            Brewington’s Potting Shed
Title:                   Owner

				
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posted:7/28/2011
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Description: Purchase and Sale Artwork Agreement document sample