CONTRACT POLICY FOR FINE ARTISTS
*1. Purpose:*
This Policy and Contract establishes a partnership between BroadPosta and the Artist based on best practices in the fine art industry, aiming to promote and sell the artist works while ensuring mutual benefit, professionalism, and legal clarity.
*2. Representation:*
BroadPosta shall exclusively represent the Artist for the exhibition, promotion, and sale of the Artist's artworks during the term of this agreement, adhering to the highest standards of professionalism and integrity.
*3. Artwork Selection:*
BroadPosta shall select artworks for exhibition based on artistic merit, market demand, and alignment with BroadPosta's curatorial vision, maintaining a diverse and engaging exhibition program.
*4. Marketing and Promotion:*
BroadPosta agrees to implement a comprehensive marketing and promotional strategy to enhance the visibility and recognition of the Artist's artworks from obscurity to global visibility, utilizing various channels including online platforms, social media, print media, and participation in art events and exhibitions.
*5. Pricing and Revenue Sharing:*
Pricing of any and every original artwork shall be determined collaboratively between BroadPosta and the Artist, with consideration given to factors such as artistic value, market trends, and comparable sales. 20% sent to the artist immediately following sale, for the delivery of purchased original art from artist location to a location deemed by BroadPosta to be convenient. 50% of the sale price shall be paid to the artist immediately following the confirmation of delivery of the said artwork by the buyer, while 20% shall be retained by BroadPosta, and 10% shall be reserved for handling, framing and freighting of artist work by BroadPosta from BroadPosta location to buyer's location.
*6. Insurance and Risk Management:*
BroadPosta shall obtain adequate insurance coverage for all artworks consigned to BroadPosta, covering loss, theft, or damage during transit, exhibition, and storage, thereby mitigating risks and ensuring protection for both parties.
*7. Transportation and Handling:*
BroadPosta shall be responsible for the transportation and handling of artworks, employing professional art handlers and reputable shipping services to ensure the safe and secure delivery of artworks to clients, both domestically and internationally.
*8. Legal Compliance:*
Both parties agree to comply with all relevant laws and regulations governing the art market, including but not limited to copyright laws, intellectual property rights, taxation, and contractual obligations, thereby upholding ethical standards and legal integrity.
*9. Exhibition Opportunities and Artistic Development:*
BroadPosta shall provide the Artist with opportunities for solo and group exhibitions, as well as participation in curated shows and artist residencies, fostering artistic growth, exposure, and networking within the art community.
*10. Payment Terms and Financial Transparency:*
The Gallery agrees to provide the Artist with detailed sales reports and accounting statements on a regular basis, reflecting all transactions related to the sale of artworks, and to make timely payments to the Artist in accordance with the agreed-upon revenue sharing model.
*11. Duration and Termination:*
The agreement shall commence on the date of signing and shall remain in effect for a period of 1 (One) year, renewable upon mutual agreement. Either party may terminate this agreement within 30 days of written notice, provided all outstanding obligations have been fulfilled.
*12. Governing Law and Dispute Resolution:*
This agreement shall be governed by and construed in accordance with the laws of Ontario, Canada. Any disputes arising under this agreement shall be resolved amicably through negotiation and, if necessary, through mediation or arbitration.
*13. Confidentiality and Professional Conduct:*
Both parties agree to maintain the confidentiality of any proprietary or sensitive information exchanged during the course of their partnership and to conduct themselves in a professional manner, upholding the reputation and standards of the fine art industry.
*14. Entire Agreement and Amendments:*
This Agreement constitutes the entire understanding between BroadPosta and the Artist, superseding all prior agreements, discussions, and understandings, and may only be amended in writing signed by both parties.
*In Witness Whereof, the parties hereto have executed this agreement as of the date first above written.
*15. Seller's Share:
*BroadPosta shall retain 20% of the total sales price of the original artwork as the seller's share.
*16. Artist's Share:
*The remaining 50% of the total sales price of the original artwork shall be paid to the Artist immediately following confirmation of receipt of the artwork by the recipient.
*17. Original Option: Framing, and Freighting:
All original artworks are to remain with the artist until a buyer makes a confirmed payment online. *BroadPosta shall deduct 20% from the total sales price of the purchased original option, and 10% to cover framing, and freighting expenses by BroadPosta from BroadPosta location to the buyer's location. 20% shall be paid to the artist immediately following buyer's payment for the freighting of the artwork from the Artist location to BroadPosta Location. 50% is to be sent to the Artist immediately following confirmation of satisfactory delivery of artwork to the buyer by BroadPosta. Transparency: any and all purchased original artwork(s) must be electronically authorized by the artist through an alert system email. sent automatically to the official email on the artist's BroadPosta profile immediately following the buyers payment confirmation.
*18. Print Option: Printing, Framing, and Freighting:
*BroadPosta shall deduct 20% from the total sales price of the purchased print option, and 30% to cover printing, framing, and freighting expenses by BroadPosta from BroadPosta location to the buyer's location, and 50% is to be sent to the Artist immediately following confirmation of satisfactory delivery of artwork to the buyer. Transparency: any and all purchased print artwork(s) must be electronically authorized by the artist through an alert system email. automatically to the official email on the artist's BroadPosta profile immediately following the buyers payment confirmation.
*19. Setup Fee & Pricing Plan:*
SETUP FEE: -- US$50.00 (One time Payment)
PREMIUM YEARLY PAYMENT PLAN: -- US$100.00 -
(6 Initial artworks only)
SPOTLIGHT: -- Re-branding & multi million outreach on BroadPosta News outlets, Social Media and the Internet with guaranteed sales - US$50
Any additional artwork attracts an additional fee of US$19.00 each
*20. Consignment Period:*
The consignment period shall commence on the date of delivery of artworks to BroadPosta and shall continue until one year duration, unless otherwise extended or terminated as per the terms of this contract.
*21. Pricing and Sales Commission:*
The Artist and BroadPosta shall agree upon the retail price for each artwork, with 50% of the sale price allotted to the Artist.
*22. Delivery and Transportation:*
The Artist shall be responsible for the delivery of original artworks to BroadPosta in a timely manner, ensuring that all artworks are properly packaged, labeled, titled, medium, dimension, and their appropriate signature(s) affixed or stamped at the reverse side of the artwork .
*23. Insurance and Risk Management:*
BroadPosta shall obtain insurance coverage for all consigned artworks, covering loss, theft, or damage during transit, exhibition, and storage, with the cost of insurance borne by BroadPosta.
*24. Payment and Accounting:*
BroadPosta agrees to provide the Artist with detailed sales reports and accounting statements on a regular basis, reflecting all transactions related to the sale of artworks, and to make timely payments to the Artist for artworks sold, in accordance with the agreed-upon commission structure.
*25. Termination:*
Either party may terminate this contract within 30 days of written notice, provided all outstanding obligations have been fulfilled. Upon termination, either party shall promptly return any property in their possession belonging to either party.
Note: BroadPosta reserves the right to update this policy at any time without prior notice.
