New York Artist Art Consignment Agreement

New York Artist Art Consignment Agreement

Before you use this: This form is for an artist, craftsperson, or covered successor delivering that creator's own fine art, craft, or print to an art merchant for exhibition or sale for compensation. New York Arts and Cultural Affairs Law § 12.01 creates a statutory trust in covered work and proceeds. This agreement does not waive those protections.

This Agreement is made on [__/__/____] between Artist / Consignor [________________________________], address [________________________________], and Art Merchant / Consignee [________________________________], business address [________________________________]. If Consignor is a successor, identify the creator and interest: [________________________________].

1. Works delivered

Consignor delivers the works in Exhibit A to Consignee for exhibition and sale on consignment. Consignee acknowledges each work, its condition, and delivery date by signing Exhibit A. Later works must be added in a signed exhibit. Consignor represents authority to consign the works and discloses known third-party claims: [________________________________].

Consignee will hold the works at [________________________________], identify them as Consignor's works in its records, and keep them separate or otherwise readily identifiable. Consignee may not pledge, encumber, loan, alter, or transfer a work except through an authorized sale without Consignor's prior written consent.

2. Display, price, and sale

Consignor authorizes display at [gallery / website / event: ________________________________] and use of work images solely to market the listed works during the term. Additional uses require written approval. The artist credit is [________________________________]. Consignee may sell each work at or above its minimum price in Exhibit A. A lower price, installment sale, trade, or purchase by Consignee or its affiliate requires separate written approval identifying the work and terms.

3. Commission, trust, and accounting

Consignee earns [____]% of the actual sale price of a completed authorized sale. Approved itemized expenses: [________________________________]. No other expense reduces Consignor's share. Within [____] calendar days after receipt of cleared buyer funds, Consignee will deliver an itemized statement and pay the net amount by [________________________________]. The statement must identify the work, date and price of sale, funds received, commission, expenses, and amount paid. Consignee will make related sale and payment records available on reasonable written request.

Each covered work is statutory trust property for Consignor. Sale proceeds are statutory trust funds for Consignor; Consignee will keep them identifiable and apply them to amounts due to Consignor. Consignee may not treat either the work or proceeds as its own unencumbered assets or subject them to its creditors' claims. The parties make no waiver of New York Arts and Cultural Affairs Law § 12.01 in this Agreement. A purchase by Consignee for its own account does not end the statutory trust before Consignor is paid in full. If Consignee resells the work to a bona fide third party before full payment, the resale proceeds received by Consignee remain trust funds for Consignor to the extent needed to pay the balance due.

4. Care, term, and return

Consignee will use professional care, promptly report theft, loss, damage, or a third-party claim, and maintain this insurance: [carrier / type / limit / deductible / loss payee: ________________________________]. The agreed record value for each work is in Exhibit A; it does not cap any liability imposed by law. The parties may agree on additional handling and repair terms here: [________________________________].

The term begins [__/__/____] and ends [__/__/____]. Either party may terminate on [____] calendar days' written notice; Consignor may demand prompt return after unauthorized disposition or overdue payment. Within [____] calendar days after termination, Consignee will return unsold works to [________________________________] at [Consignee / Consignor] expense and sign a return inventory. Payment and accounting duties for completed sales survive termination.

5. Notices and signatures

Notices go to the addresses below by [email / mail / delivery: ________________________________] and are effective on [________________________________]. Changes require a writing signed by both parties. New York law governs. This Agreement and signed exhibits are the entire agreement concerning these works, subject to nonwaivable law.

Artist / Consignor signature: [________________________________] Date: [__/__/____]

Printed name / title: [________________________________] Email / mailing address: [________________________________]

Art Merchant / Consignee signature: [________________________________] Date: [__/__/____]

Printed name / title: [________________________________] Email / mailing address: [________________________________]

Exhibit A — Work inventory and receipt

Condition exceptions and photographs attached: [________________________________]

Consignee acknowledges receipt: [________________________________] Date: [__/__/____]