Terms of Loan to PACH
This agreement is made today by and between PILSEN ARTS & COMMUNITY HOUSE (hereinafter referred to as the "PACH") and the artist as mentioned above, for the exhibition of art and/or other retail items (hereinafter referred to as "Items") at PACH.
Terms and Termination: The term length for this contract covers the length of time that the artist's items are being sold at PACH, (April 2nd - April 26th).
Artist must collect unsold items between April 26th thru April 28th (Fail to collect unsold items past the indicated timeframe deems the items as PACH property and will be sold at 100% donation to PACH.)
Commissions on artwork: The artist shall receive 50% of the retail list price of artwork sold. PACH shall receive a Donation of 50% of the retail list price of artwork sold.
Prices: PACH shall sell the items shown on the inventory sheet at the agreed upon retail list price(s). Where discount sales are given, the discount shall be treated as a reduction in price, and only PACH’s donation shall be reduced based on the discount.
Payments: PACH shall pay the artist their commission no later than the 15th of the month for any items that sold during the previous month. The artist will be given 90% of the retail list price indicated on the inventory sheet. Payments will be made via Check in which the artist may pick up or request to have mailed.
Accounting: PACH shall provide the artist an accounting report upon the artist’s request. The accounting report shall include the artist inventory list, and shall show each item sold during the accounting period. Accounting will include the title of the work, date of sale, price and the amount due to the artist. The accounting shall also list the items consigned to PACH that have not been sold.
Loss or Damage: PACH shall be responsible for losses up to, and not over, 50% of the retail list price for items on the inventory sheet for each retail item stolen, damaged or loss by natural disaster, water, fire, earthquake, environmental factors, or circumstances beyond the PACH’s control.
Security Interest: The artist has title to and a security interest in any works consigned or proceeds of sale under this agreement. In the event of a default by PACH, the artist has all rights to the work and the work shall not be subject to claims by PACH’s creditors. Title to all works shall pass directly from the artist to a purchasing party. PACH will never retain title to any of the artist’s work unless a separate agreement is made between the artist and PACH on this subject.
Display: PACH shall provide the space in which the designated items will be displayed. PACH is responsible for the display and removal of items. The manner in which the items are displayed is the responsibility of PACH. The items will be displayed in the gallery area of PACH during the designated period of time or until sold.
Web Display & Sales: Items at PACH may be photographed and posted with the retail list price on the PACH’s website and on any other website that is connected to PACH. Items will be advertised for sale on websites and or social media websites and will direct customers to purchase in person or online directly from PACH.