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This Consignment Agreement (the “Agreement”) states the terms and conditions that govern the contractual agreement between:
(the “Consignor”) and Budget Collector LLC, located at 712 H ST NE #970, Washington DC 20002 (the “Consignee”) who agree to be bound by this Agreement.
WHEREAS, the Consignor owns right and title to the items that they have uploaded into the app (the “Consigned Items”), and the Consignee desires to take possession of the Consigned Items with the intention of selling it to a third party.
NOW, THEREFORE, in consideration of the mutual covenants and promises made by the parties hereto, the Consignor and the Consignee (individually, each a “Party” and collectively, the “Parties”) covenant and agree as follows:
RIGHT TO SELL. The Consignor hereby grants to the Consignee the exclusive right to display and sell the Consigned Items according to the terms and conditions of this Agreement.
MINIMUM PRICE. The minimum price in US dollars at which the Consignee may sell the Consigned Items shall be:
In the event the Consignee sells the Consigned Items for less than the Minimum Price, the Consignor shall be entitled to the same payment the Consignor would receive as its share of the sale price under this Agreement had the Consigned Items been sold for the Minimum Amount.
CONSIGNMENT FEE. The Consignee shall be entitled to 10 percent of the full purchase price of the Consigned Items (the “Consignment Fee”).
Within 30 days from the sale of the Consigned Items, the Consignee shall deliver to the Consignor the sale price of the Consigned Items less the Consignment Fee.
INSURANCE. The Consignor represents and warrants that the Consignor shall maintain insurance coverage sufficient cover any items exhibited by the Consignee in the event of damage due to fire, theft, or otherwise.
TIMEFRAME. In the event that all the Consigned Items are not sold within 30 days all unsold Consigned Items shall be returned to the Consignor with all delivery costs borne by the Consignee.
CONSIGNOR REPRESENTATION. The Consignor hereby represents and warrants that the Consignor holds full title (or has received, in writing, the authorization to sell the Consigned Items by any necessary parties) to the Consigned Items.
EXPENSES. The Consignor shall bear all expenses for shipping the Consigned Items.
NO MODIFICATION UNLESS IN WRITING. No modification of this Agreement shall be valid unless in writing and agreed upon by both Parties.
APPLICABLE LAW. This Agreement and the interpretation of its terms shall be governed by and construed in accordance with the laws of the State of the District of Columbia and subject to the exclusive jurisdiction of the federal and state courts located in District of Colombia.
IN WITNESS WHEREOF, each of the Consignor has agreed to this contract, as of the day and year set forth below.
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I agree to have my information sent to an insurance broker.I have insurance that will cover exhibitions and shipping.
Creating new art collectors.
To support the development of private art collections across the United States, to provide resources for potential and current art collectors, and to support private galleries.
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