When it comes to loaning out artwork, it`s important for both the artist and the borrower to have a clear understanding of the terms and conditions of the agreement. An artist loan out agreement sample can serve as a helpful tool to ensure that all parties involved are on the same page.
The purpose of an artist loan out agreement is to outline the terms of the loan, including the duration of the loan, the condition of the artwork, and any restrictions on the use of the artwork. It can also specify who is responsible for transporting the artwork, insuring it, and any costs associated with the loan.
The following is an example of an artist loan out agreement:
ARTIST LOAN OUT AGREEMENT
This loan agreement (“Agreement”) is entered into between [Name of Artist] (“Artist”) and [Name of Borrower] (“Borrower”) on [Date].
1. Loan of Artwork. Artist hereby loans the following artwork to Borrower:
[Insert description of artwork, including title, medium, size, and any other relevant details]
2. Term. The loan period shall commence on [Start Date] and shall continue until [End Date], unless otherwise agreed upon in writing by Artist and Borrower.
3. Care of Artwork. Borrower shall take reasonable care of the artwork during the loan period, and shall not alter or modify the artwork in any way. Borrower shall also ensure that the artwork is displayed or stored in a manner that is consistent with the Artist`s instructions.
4. Insurance. Borrower shall purchase and maintain insurance coverage on the artwork during the loan period, with coverage limits of at least [Dollar Amount]. Borrower shall provide proof of insurance to Artist upon request.
5. Transportation. Borrower shall be responsible for all transportation costs associated with the loan, including the cost of packing and shipping the artwork to and from Borrower`s location.
6. Reproduction. Borrower shall not reproduce or distribute images of the artwork without the express written consent of the Artist.
7. Copyright. Borrower acknowledges that the artwork is protected by copyright law, and that Artist retains all rights to the artwork, including the right to reproduce and display the artwork.
8. Termination. Artist may terminate this Agreement at any time if Borrower breaches any of the terms of this Agreement. Upon termination, Borrower shall immediately return the artwork to Artist.
9. Governing Law. This Agreement shall be governed by the laws of [Insert State or Country], and any disputes arising out of this Agreement shall be resolved in accordance with the laws of [Insert State or Country].
10. Entire Agreement. This Agreement constitutes the entire agreement between the parties, and supersedes all prior and contemporaneous agreements and understandings, whether written or oral, relating to the subject matter of this Agreement.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.
Artist: [Name and Signature]
Borrower: [Name and Signature]
As with any legal document, it`s important to consult with an attorney before using an artist loan out agreement sample. By having a clear agreement in place, both the artist and borrower can protect their interests and ensure that the loan of artwork goes smoothly.