Artwork Loan Agreement is a legal document binding on the lender and the borrower for display of fine arts exhibits during the exhibition. Each artwork must be separately listed in this form in addition to providing its dimensions and face value in US dollar.
Institutions use this form to borrow the artwork from lenders like museums during exhibitions under the terms and conditions of borrowing set forth in this URM-010 Artwork Loan Agreement. Please read these terms and conditions of borrowing carefully before proceeding. Written notice of 30 days by either party is required in addition to the settlement of dues to terminate this URM-010 loan agreement for borrowing artwork/s. Please specify the duration of the exhibition precisely in the space reserved for the same. Lender’s insurance holds priority in spite of the insurance of the artwork by the borrower.
Steps To Prepare URM-010 Artwork Loan Agreement
- Enter the name of the lending institution on the foremost line of the URM-010 Artwork Loan Agreement.
- Then enter the name of the borrowing institution along with details of the campus and location.
- Enter the title of the exhibition.
- Enter the location of the exhibition along with the date of date of commencement and termination.
- Enter the address of the lending institution along with home and office phone number. Mention email address of the lending institution on the next line.
- Specify the credit line for the label and the catalogue on the subsequent line. The lending institution may choose to provide directives for governing the credit line.
- Enter the number of artwork pieces. Please insist for written attachment from the lender describing each artwork separately. Then enter date of work and title for each artwork separately.
- Enter medium support.
- Enter the dimensions of each artwork without the base or frame in inches.
- Enter the dimensions of each artwork with the base or the frame in inches.
- Mention Insurance or Sale value of the artwork. Select yes, if the artwork is available for sale or select no otherwise.
- Select if you want to insure the artwork on your own.
- Select appropriate choice to provide 8×10 black-and-white photograph or 4×5 color transparency.
- Please specify or declare the rightful owner of the artwork in case the lender does not maintain rightful ownership.
- Mention photograph credit on the next line.
- Specify special instructions by the lender if any in the space reserved for the same.
- Both lender and the borrower must accept the terms and conditions and sign URM-010 Artwork Loan Agreement after entering the date. Please enter name and title for the lender and date after the lender’s signature on the document. Please mention name and title for institution and date after the borrower’s signature. Return duly signed URM-010 Artwork Loan Agreement to the institution. The institution in turn returns a countersigned copy for your reference and record.
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