OUR TERMS & CONDITIONS
At VELVENOIR we aim to operate in a fair and reasonable manner at all times and it is part of our philosophy to ensure we maintain a great relationship with our clients. It is, however, important to have certain contractual aspects agreed in order to protect both parties. By commissioning / working with any of our VELVENOIR consultants you are agreeing to the following terms and conditions:
The provision of art consultation, art concept development, art acquisition on our clients behalf, strategic consultancy, art collection management as well as primary and secondary art sourcing + tailored communication consultancy, projects and services by VELVENOIR (the Consultancy/we) is subject to the following terms and conditions:
Updated January 2020
- Before we start working with you as private collectors or/ on your project, we will issue a quotation (or series thereof) requiring agreement or a corresponding Purchase Order from the client (you). Each quotation is valid for 14 days and is based on our best estimate of the project at the date quoted and may be subject to revision or amendment. If our quotation changes, we will ask you to re-confirm the project before go-ahead.
- We will obtain your approval of all deliverables in advance of final production and/or implementation. Final approval will authorise us to proceed and to enter into contracts with suppliers. All amendments and cancellations required thereafter, for whatever reason, will involve an additional charge. Usage by you of any or all of the ‘plan or project deliverable(s)’ implies your acceptance of the plan or project as quoted in full.
- Also, if you modify or cancel plans or projects you will accept liability for all commitments incurred by us up to the date and time we are able to act on your new instructions.
- We shall, however, take all reasonable steps to comply with any requests from you to amend, halt, reject or cancel work in preparation insofar as this is possible within the terms of our contractual obligations to suppliers.
- You shall not at any time while these terms and conditions remain in force employ directly or indirectly the services of any employee of the Consultancy who has been engaged on your work unless written permission has been given by the Consultancy
– The remuneration structure agreed between the client and the Consultancy may be based on a number of methods. These are a ‘retainer’, a ‘fixed fee’, a commission on the art sale.
– We reserve the right to request that you pay a deposit whenever substantial advance payments or financial commitments are required on your behalf.
– You agree to pay us according to the fee structure outlined in the project proposal, as amended by subsequent written correspondence.
– ‘Retainer fee’ shall be defined as a payment made to secure the Consultancy’s services for a fixed period of time. It will be automatically renewed except where either party gives the appropriate notice or is in breach of the contract or where otherwise defined in the specific terms of the contract.
– Fixed fee contracts cover the performance of an agreed service as outlined in our Project Proposal for an agreed fee. Extra time incurred by us in the performance of the ‘fixed fee’ component of a contract shall be borne by the Consultancy subject to the work staying consistent with the agreed brief.
– Payment is due 14 days from the date of invoice and by bank transfer. The Consultancy reserves the right to charge interest on all overdue invoices at a rate of 2% per month.
– The ‘daily rate’ or ‘hourly rate’ shall be charged in accordance with the criteria defined below.
– For any art consultancy services provided towards a project from a client of yours, the Consultancy may ask to pay an overall fee which will be refunded after you / or your client acquired the art with the consultant as proposed within the art presentation. *this service applies for interior designers/architects and private clients.
– Within the Blue Chip Brokerage it is common practice within the secondary art market, many advisories and brokers charge fees for their services, the consultancy has a set fee in place for an initial enquiry. This fee will be communicated directly with the client when reaching out to the consultancy.
Time Basis for Contracts
• Where applicable, activity time is calculated inclusive of travel time.
• Activity time includes all office time spent acting for the client.
• Activity logs will be provided to clients upon request.
Most contracts that extend across several months provide for stage payments. These are negotiated in advance as part of the normal discussions prior to agreement of the contract.
Liability for Advice Given
• We provide information, advice and services in good faith based upon information available at the time. It is for you to decide whether or not to accept our advice in making your management decisions.
• The Client agrees to indemnify the Consultancy against all costs, charges and damages falling upon the Consultancy as a result of legal actions brought against the Consultancy arising from the publication of any ‘plan or project deliverables’ which have been approved by the Client for publication.
• The Consultancy’s maximum liability for any default will not exceed the price of the contract for which it is liable. We shall be under no liability whatsoever if payment has not been made by the due date.
- The Consultancy undertakes to maintain Public Liability Insurance with a limit of liability of 50.000 EUR and Professional Indemnity Insurance with a limit of indemnity of EUR 50.000 on each and every loss.
- Any property or information made available by the Client to the Consultancy shall be and at all times remain at the risk of the Client and the Consultancy shall not be subject to any liability for it.
- The Consultancy will not disclose any confidential information relating to the Client or the Client’s business without Client permission. The Client acknowledges the Consultancy’s right to use any information regarding Client products or services which it has gained in the course of its appointment and which is or becomes publicly available.
- The copyright in all artwork, copy and other work produced by or assigned to the Consultancy remains with the Consultancy until the Client pays all related invoices on time and in full. Then such copyright and the title in any deliverables will be deemed to be assigned to the Client, unless other arrangements are made in writing. However, the Consultancy reserves the right to incorporate, as it sees fit, any materials created by the Consultancy on behalf of the Client and available in the public domain, into the Consultancy’s own creative portfolio and sales and marketing activities.
- The Consultancy is not liable for any additional costs incurred by the Client as a result of a Force Majeure, such as acts of God, war, strikes, fire, breakdowns, interruptions of transport, delays in delivery by suppliers or by any other reason outside of the Consultancy’s control. In such circumstances, the Client remains liable for all quoted project costs as invoiced by the Consultancy.
- Any variation of these terms and conditions is not valid unless it is specifically agreed in writing by a director of the Consultancy.
- These terms and conditions shall be governed by Austrian law and the parties agree that any dispute arising from them shall be resolved in the Austrian courts.
For further details please do not hesitate to contact us via firstname.lastname@example.org