1. Agency; Purposes. The Artist appoints JMArt Space LTD. as agent for the works of art ("the Artworks") consigned under this Agreement, for the purposes of exhibition and sale.JMArt Space LTD shall not permit the Artworks to be used for any other purposes without the written consent of the Artist. This agreement applies only to works consigned under this Agreement and does not make JMArt Space LTD a general agent for any other works.
2. Exclusive Representation. The Artist hereby appoints JMArt Space LTD as their sole representation throughout "Specific area" to sell or otherwise make available for acquisition to the public, the Artist's Artworks.
3. Consignment. The Artist hereby consigns to JMArt Space LTD, and JMArt Space LTD accepts on consignment, those Artworks listed on the attached Inventory Sheet which is a part of this Agreement. Additional Inventory Sheets may be incorporated into this Agreement at such time as both parties agree to the consignment of other works of art. All Inventory Sheets shall be signed by Artist and Gallery.
4. Authority of Accepted Artist’s Works. Works of art may be accepted for consignment only by or by any person designated by either of them in writing as authorized to accept works of art hereunder. JMArt Space LTD may reject artworks at the Owner's discretion.
5. Warranty. The Artist hereby warrants that he/she created and possesses unencumbered title to the Artworks, and that their descriptions are true and accurate.
6. Duration of Consignment. The Artist and JMArt Space LTD agree that the initial term of consignment for the Artworks is to be 12 months, and that the Artist does not intend to request their return before the end of this term. Thereafter, consignment shall continue until the Artist requests the return of any or all of the Artworks or JMArt Space LTD’s requests that the Artist take back any or all of the Artworks with which request the other party shall comply within 30 days.
7. Transportation Responsibilities. 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 Buyer are the responsibility of the Artist. 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 JMArt Space LTD are the responsibility of the Artist. Packing and shipping charges, insurance costs, other handling expenses, and risk of loss or damage incurred in the delivery of Artworks from JMArt Space LTD to the Buyer, shall be the responsibility of JMArt Space LTD.
8. Responsibility for Loss or Damage, Insurance Coverage. JMArt Space Ltd. shall be responsible for the safekeeping of all consigned Artworks while they are in its custody. JMArt Space LTD shall be strictly liable to the Artist for their loss or damage (except for damage resulting from flaws inherent in the Artworks), to the full amount the Artist would have received from JMArt Space LTD if the Artworks had been sold.
9. Fiduciary Responsibilities. Title to each of the Artworks remains in 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. All proceeds from the sale of the Artworks shall be held in trust for the Artist. JMArt Space LTD shall pay all amounts due the Artist before any proceeds of sales can be made available to creditors of JMArt Space LTD.
10. Notice of Consignment. JMArt Space LTD shall give notice, by means of a clear and conspicuous sign in full public view that certain works of art are being sold subject to a contract of consignment.
11. Removal from Gallery. JMArt Space LTD shall not lend out, remove from the premises, or sell on approval any of the Artworks, without first obtaining written permission from the Artist.
12. Pricing; Gallery's Commission; Terms of Payment. JMArt Space LTD shall sell the Artworks only at the Retail Price specified on the Inventory Sheet. JMArt Space LTD and the Artist agree that JMArt Space LTDs commission is to be 20 percent of the Retail Price of the Artwork. Any change in the Retail Price, or in JMArt Space LTD's commission, must be agreed to in advance by the Artist and JMArt Space LTD. Payment to the Artist shall be made within a fortnight of the sale and will include all commissions due for any/all artworks sold. JMArt Space LTD assumes full risk for the failure to pay on the part of any purchaser to whom it has sold an Artwork.
13. Framing. If JMArt Space LTD offers a framing service of the Artwork, JMArt Space LTD and the Artist agree that JMArt Space LTD's expense will be factored into the retail price and full compensation for framing will be given to JMArt Space LTD upon the sale of Artwork. Should the Artwork be returned to the Artist as outlined in this agreement, the Artist and JMArt Space LTD are equally responsible for the wholesale cost of the framing expense.
14. Promotion. JMArt Space LTD shall use its best efforts to promote the sale of the Artworks. JMArt Space LTD agrees to provide adequate display of the Artworks, and to undertake other promotional activities on the Artist's behalf. JMArt Space LTD shall identify clearly all Artworks with the Artist's name, and the Artist's name shall be included on the bill of sale of each of the Artworks. JMArt Space LTD and the Artist shall agree in advance on the division of artistic control and of financial responsibility for expenses incurred in JMArt Space LTDs exhibitions and other promotional activities undertaken on the Artist's behalf.
15. Reproduction. The Artist reserves all rights to the reproduction of the Artworks except as noted in writing to the contrary. JMArt Space LTD will not permit any of the Artworks to be copied, photographed or reproduced without the written permission of the Artist. In every instance of such use, the Artist shall be acknowledged as the creator and copyright owner of the Artwork. JMArt Space LTD shall include on each bill of sale of any Artwork the following legend: "All rights to reproduction of the work(s) of art identified herein are retained by the Artist: Michael Dunn."
16. Accounting. A statement of accounts for all sales of the Artworks shall be furnished by JMArt Space LTD to the Artist each month, with the payment of all commissions due. The Artist shall have the right to inventory his or her Artworks in JMArt Space LTD and to inspect any books and records pertaining to sales of the Artworks.
17. Termination of Agreement. Notwithstanding any other provision of this Agreement, this Agreement may be terminated at any time by either JMArt Space LTD or the Artist, by giving a sixty (60) day 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 JMArt Space LTD.
18. 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.
19. Miscellany. This Agreement represents the entire agreement between the Artist and JMArt Space LTD. If any part of this Agreement is held to be illegal, void, or unenforceable for any reason, such holding shall not affect the validity and enforceability of any other part. 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 JMArt Space LTD, whether by operation of law or otherwise, without the prior written consent of the Artist. In any proceeding to enforce any part of this contract, the aggrieved party shall be entitled to reasonable attorney's fees in addition to any available remedy.