Artist Terms and Conditions
Consignment Agreement for Kingsroy
Artist: _______________________ (Consignor)
This Consignment Agreement (the “Agreement”) states the terms and conditions that govern the contractual agreement between Consignor [Artist] and Consignee [Kingsroy], located at Address (106 Devon Street West, New Plymouth) who agree to be bound by this Agreement.
WHEREAS, the Artist owns right and title to the items sent to Kingsroy, and Kingsroy 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 Artist and Kingsroy (individually, each a “Party” and collectively, the “Parties”) covenant and agree as follows:
RIGHT TO SELL. The Artist hereby grants to Kingsroy the exclusive right to display and sell the Consigned Items according to the terms and conditions of this Agreement.
CONSIGNMENT FEE. Kingsroy shall be entitled to a Percentage of the actual sales price of the Consigned Items (40% plus GST of the retail price). If a discount has been given the discount margin will be borne by Kingsroy unless discussed with the Artist prior to the sale.
PAYMENT FOR SOLD ITEMS. For items sold in a calendar month Kingsroy shall deliver to the Artist the sale price of the Consigned Items less the Consignment Fee. The payment shall be made within 7 days from the 20th of the following calendar month.
NOTIFICATION OF PAYMENT. Artists will need to access itemised payment slips via their own artist portal.
INSURANCE. Kingsroy represents and warrants that Kingsroy shall maintain insurance coverage sufficient to compensate the Artist for the fair market value of the Consigned Items in the event of damage due to theft, or breakages. Kingsroy's insurance will not cover events such as Fire or Natural Hazards such as storm, flood, or earthquake. All items remain the property of the Artist until sold. The artist agrees to indemnify Kingsroy against any other losses that are not theft or breakage.
LOCATION OF ITEMS. Kingsroy agrees and acknowledges that the Consigned Items shall only be kept and stored at 106 Devon Street West, New Plymouth unless otherwise agreed upon by the Artist in writing.
TIMEFRAME. In the event that any of the Consigned Items are not sold Kingsroy will re-assess the Consigned items and converse with the Artist about swapping or returning the consigned items. At Kingsroy’s discretion items may be returned to the Artist and delivery costs will be borne by Kingsroy. If the Artist requests work to be returned or sent elsewhere the associated costs will be borne by the Artist. Insurance during transit is covered by Kingsroy in this instance.
ARTIST REPRESENTATION. The Artist hereby represents and warrants that the Artist holds full title (or has received, in writing, the authorisation to sell the Consigned Items by any necessary parties) to the Consigned Items.
EXPENSES. The Artist shall bear all expenses for shipping the Consigned Items to Kingsroy.
The Artist will provide a proforma invoice with every delivery of Consigned items. The invoice shall include:
- Artist name and date
- GST number (if registered)
- Item title, quantity and description, where appropriate
- Artist price or retail price of each item (IMPORTANT: please state which)
- If GST registered state if prices are inclusive or exclusive of GST
- Contact information – phone/address
- Bank account number
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 New Zealand.
The terms and conditions set out in this agreement replace any previous written and verbal agreements.
Confidential legal document between Consignor and Kingsroy, (not to be shared with other parties).
29 March 2022