Artist Consignment Agreement (Page 2 of 3) in pdf

2.4

The Arboretum shall sell the Consigned Merchandise at the retail price

established by the Artist, as specified on the Inventory Sheet, and will provide

price and display tags for all Consigned Merchandise.

2.5

The Artist is responsible for keeping his or her contact information with

the Arboretum current. In the event the Arboretum is unable to contact the Artist

for a period of ninety (90) days, Consigned Merchandise will be considered

abandoned and will be disposed of at the discretion of the Arboretum.

Term. The term (“Term”) of this Agreement commences (place an X in the

appropriate parenthesis):

3.1.

( ) This contract is for a minimum of ninety (90) days, after which time

either party may discontinue this agreement by written or verbal notice, or

3.2.

( ) This contract will cover the following time period__________ 20____

through ________________ 20____.

[This Agreement shall automatically terminate with the death of the Artist or if

the Arboretum becomes bankrupt or insolvent.]

Payment Terms. The Arboretum and the Artist agree that the Arboretum’s

commission is to be 40% of the retail price of the Consigned Merchandise. The Arboretum will

pay to the Artist 60% of the retail price of the Consigned Merchandise sold in the month no later

than thirty (30) days after the end of the month of the sale.

Security and Risk of Loss. The Arboretum shall provide the same level of care,

security and protection for Consigned Merchandise as is currently provided for Arboretum

property. The Arboretum upon receipt of the Consigned Merchandise will report evidence of

any damage to the Artist.

Insurance. The Arboretum shall be liable up to and not exceeding twenty-five

hundred dollars ($2,500) per individual Artist for the loss or damage (except from flaws or

damage inherent in the Consigned Merchandise) to any and all Consigned Merchandise delivered

to the Arboretum. It becomes the responsibility of the Artist to maintain additional insurance

necessary to insure any and all of the Consigned Merchandise for the full amount the Artist

would have received from the Arboretum if the Consigned Merchandise would have been sold.

Security Interest. Title to and a security interest in the Consigned Merchandise

are reserved to the Artist. The Consigned Merchandise shall not be subject to claims by the

Arboretum’s creditors. The Arboretum acknowledges that it has no right to and shall not pledge

or encumber any Consigned Merchandise in its possession nor incur any charge or obligation for

which the Artist may be liable.

Transportation of Consigned Merchandise.

The Artist is responsible for all

packing and shipping expenses associated with the delivery or return of their Consigned

Merchandise. The Artist may personally deliver/pick-up their Consigned Merchandise during

normal business hours with forty-eight (48) hours notice to The Holden Arboretum Museum

Store.

Artist Consignment Agreement Page 2