Terms and Conditions

Contract for the Sale of an Artwork with Moral Rights and Resale Royalty Rights

AGREEMENT made as of this day between myself (hereinafter referred to as the “Collector”), and Diane Prater (hereinafter referred to as the “Artist”), with respect to the sale of an artwork (hereinafter referred to as the “Work”).

  • WHEREAS, the Artist has created the Work and has full right, title, and interest therein; and
  • WHEREAS, the Artist wishes to sell the Work; and
  • WHEREAS, the Artist wishes to have a continuing relationship with the Work after its sale, including the right to borrow the Work periodically for exhibition, restore the Work if necessary, receive a residual payment if the Work is resold at a profit, and be acknowledged as the creator of the Work; and
  • NOW, THEREFORE, in consideration of the foregoing premises and the mutual obligations, covenants, and conditions hereinafter set forth, and other valuable considerations, the parties hereto agree as follows:

1. Description of the Work

The Artist describes the Work as follows: An original, signed watercolor painting which is the sole creative work product and property of the artist.

2. Sale

The Artist hereby agrees to sell the Work to the Collector. Title shall pass to the Collector at such time as full payment is received by the Artist pursuant to Paragraph 4 hereof.

3. Price

The Collector agrees to purchase the Work for the agreed upon price and shall also pay any applicable sales or transfer taxes.

4. Payment.

Payment shall be made in full upon agreement with these terms. The sale is considered final, with the provision that within 30 days of receipt of the Work, the Collector may at his own expense, make a one-time exchange for another available Work of equal value; providing the original purchase is adequately packaged for return, shipped insured by a reputable shipper and returned in saleable condition just as when originally purchased.

5. Delivery

The Artist will not accept any liability for delivery beyond that of contracting with a reputable shipper taking full responsibility for delivery. The Artist will not be held liable for any physical damage incurred, misdirection or delivery failure by said shipper, The Artist will make every effort to contract a reputable and experienced shipper and comply with the shipper’s rules and regulations regarding prudent preparation for shipping.

6. Risk of Loss and Insurance

The risk of loss or damage to the Work and the provision of any insurance to cover such loss or damage shall be the responsibility of the Collector upon delivery if shipped, or upon taking physical possession if the Collector chooses to pick up the work either personally or through an agent secured by the Collector.

7. Copyright and Reproduction

The Artist reserves all reproduction rights, including the right to claim statutory copyright, in the Work. The Work may not be photographed, videotaped, sketched, painted, or reproduced in any manner whatsoever without the express, written consent of the Artist. All approved reproductions shall bear the following copyright notice: © by Diane Prater, and the year in which the work was produced.

8. Non-destruction

The Collector shall not destroy the Work or permit the Work to be destroyed without first offering to return ownership of the Work to the Artist or his or her successors in interest.

9. Integrity

The Collector shall not distort, mutilate, or otherwise alter the Work. In the event such distortion, mutilation, or other alteration occurs, whether by action of the Collector or otherwise, the Artist shall, in addition to any other rights and remedies, have the right to have his or her name removed from the Work and no longer have it attributed to him or her as its creator.

10. Attribution

The Artist shall, at all times, have the right to have his or her name appear with the Work and to be acknowledged as its creator.

11. Right to Exhibit

The Artist may borrow the Work for up to 90 days once every 3 years for exhibition at a nonprofit institution. The Artist shall give the Collector written notice no later than 60 days before the opening and shall provide satisfactory proof of insurance and prepaid transportation. All expenses of the loan to the Artist shall be paid for by the Artist.

12. Restoration

In the event of damage to the Work requiring restoration or repair, the Collector shall, if practicable, offer the Artist the first opportunity to restore or repair the Work and, in any case, shall consult with the Artist with respect to the restoration or repairs.

13. Resale Proceeds

On resale or other transfer of the Work for a price or value in excess of that paid in Paragraph 3, the Collector agrees to pay the Artist 50 percent of the gross sale price received or, if the Work is transferred other than by sale, to pay 50 percent of the fair market value of the Work as of the date of transfer.

14. Miscellany

This Agreement shall be binding upon the parties hereto, their heirs, successors, assigns, and personal representatives. This Agreement constitutes the entire understanding between the parties. Its terms can be modified only by an instrument in writing signed by both parties. 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 or other provisions hereof. This Agreement shall be governed by the laws of the State of Florida.

IN WITNESS WHEREOF, the parties agree to adhere to the terms and conditions of this sales from the date of sale and in the case of a dispute, the date the agreement box is checked shall prevail as the date of agreement.