7. The Artist’s Responsibility
7.1 The Artist will ensure that the work presented for consignment is an original work of the artist/s.
Provide biographical details, documentation and authentication.
Provide names of artists and titles of works as well as the recommended wholesale / cost prices to be returned to the Artist.
The Artist will be responsible for all costs associated with:
Producing all art works
Documentation and authentication
Freight of works to the Gallery
Insurance of the work en route to the Gallery
7. Copyright
7.1 Copyright in the works remains the property of the artist/s and such rights shall not be sold, licensed or otherwise dealt with by the Gallery without the written authorisation of the artist or their agent.
8. Contract Alteration
8.1 This agreement constitutes the entire understanding of the parties. It cannot be changed without the written permission of both parties.
SIGNED, SEALED AND DELIVERED )
For and on behalf of )
THE ONLINE ART GALLERY ) …………………………….
in the presence of: (for the Online Art Gallery)
……………………………………….
Print Name of Witness:
Date of signing:
SIGNED by )
The Artist )
in the presence of: ) ……………………………. (The Artist)
……………………………………….
Print Name of Witness:
Date of signing:
Part IV – Consignment agreement. Transaction Scheme
Event description:
Sending offer to the potential Consignee
Return of counter offer from Consignee to Consignor
Negotiations, signing and coming into force of the consignation agreement
Notification that goods were made available by consignor for shipment
Consignor concludes an Insurance at its insurance company for the transport of coffee beans
Insurance company notifies the Consignor that it has a good deal available.
Consignor pays Insurance Premium to its bank.
Insurance Company receives payment from the Consignor’s bank and the insurance is covered.
Consignor receives notice from its Bank that the Insurance Premium is paid so the Insurance is covered.
Rendering an invoice by Consignee for supplying warehouse premises, managing the warehouse and delivery the customers their goods.
Order for the Consignee’s bank about transaction of revenue with 10% commission as a reward for Consignor from Consignee.
Transaction to the Consignor Bank money according to the invoice, not including the reward of Consignee
Notification from Consignor’s Bank about collection of payments on its account
Consignor will complete the order and start the delivery with own truck transport (referred as Consignor’s Forwarder)
Consignor’s Forwarder will start shipping the goods
Consignor’s Forwarder declares goods at Brazil Export Custom Office at the border.
Brazilian Export Customs checks CMR form and let the Consignor’s forwarder cross the Brazilian border.
Brazilian Export Customs checks CMR form and let the Consignors forwarder cross the Russian border.
Consignee receives goods from Consignor’s Forwarder.
The Consignee will assemble the goods at warehouse and will start to sell goods.
Notification from Consignee about giving out from the stock and the actual stock of goods in the Consignor’s warehouses
The consumer will buy the assembled goods from the Consignee
The Consignee will receive the money from its consumers
When the Consignee has reached the amount of goods where a new order is necessary he will e-mail the Consignor
The Consignor receives the e-mail and accepts it.
Consignee will send the Consignor a monthly sales and marketing report
Consignor will receive the monthly sales and marketing report”.
Continuation/ renew of the agreement can happen in case both parties agree on this in written form 1 month in advance before the termination of the contract, but not later than 20 days before the end of the year.
Explanation of signs used in Fig.1.
Cash flows |
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Negotiating, contract signing, information flows, e-mails |
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Goods |
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