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World Art Collections offers a leasing/commissioning service to corporate customers whereby pieces of art may be commissioned or leased for a fixed period of time. During this time the artwork will be displayed in a suitable location at the business premises of the corporate customer until such time as the piece is either sold by World Art Collections, sold by the corporate customer, or is due for rotation. Those pieces being commissioned, once sold (if a buyer is found by the corporate customer) will attract a commission fee payable by World Art Collections to the corporate customer commissioning the piece of art.
Commissioning
- Paintings may be commissioned, subject to status, for a maximum of 28 days per painting and a minimum period of 14 days. The selection of paintings to be rotated remains the sole discretion of World Art Collections.
- During such period the painting will remain on sale through World Art Collections and, as such, can be reclaimed by World Art Collections (and replaced) where a buyer has been found. In such instances, World Art Collections will give at least 3 days notice of the withdrawal of the painting.
- A security deposit representing the full asking price of the painting will be required on collection/delivery. Bank details will be retained, however a transaction will only be processed in the event that the painting becomes damaged or is stolen whilst on the business premises of the corporate customer.
- Whilst the painting is commissioned, the corporate customer will be responsible for insuring the painting to its full retail sale price at the time of commissioning, and shall be responsible for any loss or damage. Proof of insurance must be produced before commissioning.
- The painting remains the property of World Art Collections during a commission period until the point of sale.
- All sales must take place through World Art Collections whereupon a commission payment of 10% will be paid to the corporate customer within 7 days of receiving cleared funds from the buyer.
- Whether or not a business premises is suitable for commissioning remains the sole discretion of World Art Collections.
Leasing
- Paintings may be leased, subject to status, for a maximum of 28 days per painting and a minimum period of 14 days. A lessee may decide to purchase a painting within this period of time and should notify World Art Collections should they wish to do so.
- During this 28 day period the painting will remain on sale through World Art Collections and, as such, can be reclaimed by World Art Collections where a buyer has been found. In such instances, World Art Collections will give at least 3 days notice of the withdrawal of the painting.
- Whilst the painting is leased the lessee will be responsible for insuring the painting to its full retail sale price at the time of commissioning, and shall be responsible for any loss or damage. Proof of insurance must be produced before leasing.
- A security deposit representing the full asking price of the painting will be required on collection/delivery. Bank details will be retained, however a transaction will only be processed in the event that the painting becomes damaged or is stolen whilst on the business premises of the lessee.
- The painting remains the property of World Art Collections during a lease period.
- A payment of 12% of the total value of the painting being leased will be payable on a weekly basis by direct debit whilst the painting remains on the business premises.
- No commission fee will be payable if a buyer is found.
- Whether or not a business premises is suitable for leasing remains the sole discretion of World Art Collections.
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AFRICAN ART
