Artwork on consignment
Paruse® a Division of Istockhomes Marketing Ltd.
Paruse® agrees to accept artwork on consignment, listed on the attached inventory, by
(ARTIST) __________________________for sale for a CONTRACT TERM beginning ___________(date) and ending _________(date).
The following commission/payment terms will apply to each consigned artwork sold by
Paruse 25 % ( Commission to Paruse), 75% ( Payment to ARTIST ). By signing and initialing this document, both parties agree to each stipulation listed in this Agreement:
- ARTIST retains ownership of all work consigned to or represented by Paruse.
ARTIST retains copyright to all consigned artwork in perpetuity, as governed by law.______(initial)
- Retail sales price for each consigned artwork will be established by Paruse in consultation with the Artist. Factors influencing retail sales price include history of prior sales by
the Artist, market demand, and Paruse knowledge of its inventory, Buyers and price-points.
ARTIST agrees to abide by Paruse decision regarding price-setting. _______ (initial)
- Paruse will exert all reasonable efforts to close sales of consigned or represented
artwork. ARTIST agrees to provide Paruse, in a timely fashion and upon request, with any
necessary documents or information in support of sales. _______ (initial)
- Payment to ARTIST will be provided within 30 days after receipt of payment from Buyer
to Paruse. If Paruse accepts installment payment sales, ARTIST agrees to accept partial
payments as received by Paruse. Artwork will not be released by Paruse to Buyer until
full payment is received. If artwork is released to Buyer before full payment is satisfied,
Paruse agrees to pay ARTIST full percentage of commission owed. Upon ARTIST request,
Paruse will provide ARTIST with account statements of sales activity for all inventoried work,
at reasonably frequent intervals of approximately once each quarter.
- Paruse will maintain insurance for fire/ theft/ vandalism, and declares that all
consigned artwork will be covered by said insurance while in Paruse possession.
Reasonable efforts will be made to protect consigned artwork from accidental damage or
breakage. Insurance liability for accidental damage or breakage is not provided by
Paruse. ________ (initial)
- Following standard Paruse procedure, ARTIST agrees that their artwork (originals and
duplicates) will not be displayed or shown in other galleries in (described geographic area) while
artwork is displayed in Paruse during stated CONTRACT TERM. Work accepted into the
Paruse will remain for entire duration of CONTRACT TERM. This practice stabilizes the artwork
value and provides a level of exclusivity during CONTRACT TERM, which benefits sales
negotiations. Exceptions to this stipulation may be negotiated between ARTIST and Paruse
on a case-by-case basis. Paruse will extend efforts to accommodate unique and special
opportunities that arise, including participation in limited-duration festivals and weekend events.
For these opportunities, ARTIST must provide work from own inventory. ________ (initial)
- Paruse agrees to hold on premises and display as appropriate all artwork described
on attached inventory, which is an addendum to this CONTRACT. Term of this CONTRACT
begins: _______and ends: _______. Term may be renewable upon agreement by both parties.
This CONTRACT may be voided upon thirty (30) days notice by either party. ______(initial)
- It is understood by both parties that the consigned artwork will remain housed at
Paruse until and unless it is released to a Buyer after payment of full purchase price.
Paruse assumes all risk if artwork is loaned on approval to Buyer for potential sale.
- Should the consigned artwork remain unsold at the end of CONTRACT term, and if
CONTRACT term is not renewed, ARTIST must retrieve their work in a timely manner.
10 Paruse will showcase the Artists work on.
- Along with the Social Media Channels of Istockhomes and Paruse
11 Shipping of works of Art along with the packaging and the cost of shipping shall be the responsibility of the artist.
A DIVISION OF ISTOCKHOMES MARKETING LTD.
1595 BOWEN ROAD
NANAIMO BRITISH COLUMBIA, CANADA
ARTIST contact information: address, phone, email
ARTIST: _________________(printed name)________________________
ARTIST: __________________ (signature)___________________ Date________
__________________________ ____________________________ _________________