GENERAL TERMS AND CONDITIONS OF ACQUESTARTE


 

The objective of AcquestArte

AcquestArte is a gallery which purchases contemporary art from artists based in both the Netherlands and abroad, alternatively it acquires this art on a consignment basis. AcquestArte sells or rents these pieces of art to private individuals and companies.

Purchase

The buyer of a piece of art completes a form based on which AcquestArte will send the invoice and the Certificate of Authenticity. The buyer undertakes to pay the purchase price no later than within 14 days of issue of the invoice. A sample of the form can be downloaded and printed from the AcquestArte website.

Rental and additional charges

Both private individuals and companies are also able to rent art from AcquestArte. To hire one or more pieces of art, private individuals require proof of identity and companies require an excerpt from the Chamber of Commerce. If a customer wishes to rent a piece of art, the latter completes a form, based on which AcquestArte will draw up the rental agreement. A sample of the form can be downloaded and printed from the AcquestArte website

The rental for a piece of art amounts to 1.5% of the value of the piece of art each month. If the renter desires, it is also possible to pay 3% of the value of the piece of art each month; 1% of that amount is then the actual rental and 2% is used to build up a savings balance. The prices are given for every piece of art offered by AcquestArte for sale or for rent. The rent is shown under "A" and the rental in combination with savings is shown under "B".

Rental or rental plus savings balance are paid each quarter and - preferably - by direct debit at the beginning of the quarter. In addition, annually, AcquestArte charges an amount of CHF 10.00 in administration expenses. This amount is collected in the month of July, also, preferably, by direct debit.

If the customer does not wish to use direct debit, the annual administration expenses amount to CHF 50.00. This amount is collected in the month of July.

Rental period

The minimum rental period amounts to 12 months. The rental period commences in the month after the month in which the form is signed. After expiry of the compulsory rental period, the rental period is renewed tacitly, each time by one month. If the customer wishes to cease renting, the latter shall inform AcquestArte of that in writing and will return the piece of art to the gallery. On the month in which the rent agreement is cancelled, the rental will still be charged.

Premature cancellation

If the customer purchases the rented piece of art during the course of the agreed rental period, the rental agreement will cease on the date of the purchase agreement.

Exchange

After having rented for 6 months, the customer can exchange the piece of art that he has rented for a different piece. The customer will return the piece of art that he has rented to the gallery and a new rental agreement will be drawn up for the duration of a minimum of 12 months.

Savings balance

The savings balance accrued by the customer remains available to the customer. The customer can use the accrued savings balance for the purchase of one or more works of art at AcquestArte, at the option of the customer. It is therefore possible to use the savings balance for work other than the rented work. The accrued savings balance is deducted from the purchase price. By signing the rental agreement, the customer declares that he agrees that the accrued savings balance will never be refunded.


Use of the rented artwork

The customer has to maintain the artwork in a good condition with due care and diligence. The customer is liable for all damage inflicted on the piece of art or that occurs during the time that the customer has the piece of art in his possession. AcquestArte advises that the renter also takes out insurance on the piece of art as part of his contents insurance.

The piece of art that the customer has in his possession has to remain at the address provided by the customer. Should the customer wish to move the piece of art to a different address - for example in relation to a house or office move - AcquestArte has to be informed in writing of this beforehand. The customer is prohibited from relocating the piece of art abroad.

Also prohibited is reproduction, copying or exhibiting the rented artwork. This prohibition may only be deviated from if AcquestArte has given written consent to that end.

The customer has to handle the piece of art carefully. For example, the piece of art may not be placed in the immediate vicinity of a heat source or hung in a damp location, and direct sunlight also has to be avoided. The customer is liable for damage to the piece of art or the frame or for either being misplaced. This liability is limited to the value of the piece of art. The customer will inform AcquestArte immediately and in writing of a piece of art being damaged, misplaced or destroyed. Within one week after the occurrence of the damage to the piece of art, the customer will deliver the piece of art to AcquestArte for repair and restoration.

 

Insurance

For the piece of art, AcquestArte has taken out insurance for transport, fire, storm and/or burglary. The customer is liable for the excess amounting to CHF 200.00 per case of damage. The customer has to pay this amount at the first request by AcquestArte.

Excluded from the insurance is damage caused by intentional act or omission, vermin, loss, damage caused by relocation, unprofessional cleaning, government intervention and acts of war.

If the building (office/residential home) in which the piece of art is located does not have an alarm system, theft is only covered following damage caused by forcible entry.

Negligence of the customer

If the customer does not comply with his payment obligations, the customer owes interest on the overdue amount of 1.5% per month, counting from the expiry date up to and including the day of payment.

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