Fine Arts Loan Agreement

The Fine Arts Loan Agreement form needs to be filled when a loan is given to someone in the form of an artwork. When a person lends a piece of artwork to someone else for a particular period of time they will get into a Fine Arts Loan Agreement.

While the artwork is in the possession of the borrower, they have the responsibility to take care of the artwork. The person who is lending the artwork always has the option of insuring the artwork in order to protect it from any damages. The owner must also provide valuation for the artwork along with the artwork when passing possession of the artwork to the borrower. The Fine Arts Loan Agreement form starts by stating the purpose of the loan.

The person or department responsible for the artwork must be mentioned in the form as well. The title and vale of the artwork is filled in next. The dates of passing the possession and reclaiming the artwork need to be mentioned. The name and the address of the lender along with details such as their phone number and fax number will be filled next along with the credit line. The name of the artist and the date of the work along with the medium of work are to be filled in. The size of the artwork and weight of the artwork is also mentioned in the form. One must check the box provided in case photographs of the work have been provided and if permission to reproduce the photographs has been given. The contact name and address for copyright clearance and the date of arrival of the artwork is filled in next.

Fine Arts Loan Agreement

Details regarding the insurance of the artwork are in the next section. One must provide the value of the insurance and the name of the person who will be in charge of checking the condition of the artwork.

The form ends with the signatures of the person who is borrowing the artwork and the person who is lending the artwork. In case of departments, the person representing the department must sign and mention the date.

Text Version of this Form



Purpose of loan: ________________________________________________________________________________


Responsible Dept. & person: ______________________________________________________________________


Title of work & value: ____________________________________________________________________________  (if more than one, attach list of artwork with a dollar value amount for each work)


Dates: ________________________________________________________________________________________


Name of lender: ________________________________________________________________________________


Address of lender: ______________________________________________________________________________


Lender’s telephone number: __________________________________ Fax: ________________________________


Credit line: ____________________________________________________________________________________


Artist’s name: ________________________________________________ Date of work: ______________________


Medium: ______________________________________________________________________________________


Dimensions:  H: _____________ W: _____________ D: ____________ Approx. weight: _____________lbs.


Photographs provided: ☐ Yes   ☐ No     Permission to reproduce photos: ☐ Yes   ☐ No


Contact name and address for copyright clearance: _____________________________________________________


Arrival date of shipment:





Insurance:  Artwork to be insured by UVA: ☐ Yes ☐ No If yes, what is total value: ____________________________


Name of person(s) doing condition check upon arrival and departure:




I have read the Loan Conditions on page 2 and accept them.  This loan agreement cannot be altered, changed, waived  or otherwise affected except by written consent from the University of Virginia.


Signed: _____________________________________________ Date: ____________________________

Lender or authorized agent


Signed: _____________________________________________ Date: ____________________________

University representative





Please email [email protected], fax 982-2635, or send P.O. Box 400205 to the Office of Property & Liability Risk Management














  1. Under the terms of this agreement, the University of Virginia will exercise the same care in respect to all loans as it does in the safekeeping of its own property.


  1. Objects lent to the University of Virginia for exhibition or extended loan shall remain in its possession for the time specified in the Loan Agreement. Loans will be returned only to the owner or lender, or to his or her authorized agent or representative.


  1. Objects lent to the University of Virginia will be insured by the University at the written valuation provided by the lender. However, the University and/or its insurer reserve the right to substantiate the value of any artwork that is damaged prior to settling a claim with the owner of the art. All objects lent will be insured under the University’s fine arts all-risk, wall-to-wall coverage. This insurance contains the usual exclusions for loss or damage due to war, invasion, hostility or war-like action, insurrection or civil commotion, confiscation by public authority for risk of contraband or illegal transportation or trade, seizure or destruction under quarantine or customs regulations, pollutants, nuclear reaction, nuclear radiation, radioactive contamination, wear and tear, gradual deterioration, inherent vice, etc.


The lender agrees that, in the event of damage, recovery shall be limited to such amounts, if any, as may be

paid by the insurer, hereby releasing the Rector and Visitors of the University of Virginia, its officers, employees and agents from any liability for any and all claims arising out of such loss or damage.


  1. If the lender elects to insure the objects on loan to the University of Virginia with his or her fine arts insurance, the University accepts no responsibility for damaged artwork, except in cases involving negligence by the University and its employees and agents.


  1. If legal ownership of the item(s) shall change during the period of the loan, whether by reason of death, sale, insolvency, gift or otherwise, the new owner may, prior to its return, be required to establish his or her legal right to receive the item(s) by proof satisfactory to the University of Virginia.


  1. Attributions, dates and other information shown on the face of this loan agreement are as given by the lender.

Any valuations shown are those stated by the Lender and are not to be considered as appraisals by the University of Virginia.  The fact that an object has been in the University’s custody shall not indicate any endorsement by the University of Virginia.


  1. In the event that any item(s) is offered as a gift to the University of Virginia, it is understood that unless the University has been notified in writing to the contrary, the gift is outright and unconditional.


  1. The University of Virginia accepts this loan with the understanding that the Lender has full authority to make the same. In receiving or surrendering imported objects, the University requires that the Lender comply with all governmental regulations.  If the Lender has knowledge of special conditions governing the item(s), such as copyrights, lien, etc., he or she shall inform the University accordingly.