These terms and conditions create a contract (Agreement) between You (Consignor) and LATITUDE Gallery New York(Consignee).
Please read this Agreement carefully. To confirm your understanding and acceptance of the Agreement, you must agree and sign this Agreement if you wish to consign goods through LATITUDE Gallery New York.
Sale by Consignment
The Consignee will accept products/art merchandises for consignment from the consignor.
The Consignee shall be entitled to retain _50_% of all proceeds from the sale of each item consigned (including discount-applied sale).
Consignor shall provide the consignee with an inventory list and prices for items for LATITUDE Gallery New York.
The consignor will provide a detailed inventory list, i.e. # / Brand / Item Description / Price / Suggested Retail Price on the paper inventory form or electronic format such as Excel or Google Sheets.
Consignor will retain his/her own copy of this inventory list. Consignee may discount the items.
Ownership of Products
The items belong to the consignor until they are sold in the gallery gift shop.
Title to, and property and ownership in, all Products shall remain with the Consignor until such time as their removal may be directed in writing by the Consignor or until such time as they may be disposed of by bona fide sale by.
Payment for Products
The Consignee will pay the Consignor for products based on gallery’s seasonal sale (three months) via Wire Transfer (excluding bank service fee), WeChat Pay, Alipay, Venmo or PayPal, etc.
If an item is sold, the consignor will be paid 50% of the final sale price excluding taxes and credit card fees if applied.
LATITUDE Gallery New York will collect and remit all sales taxes.
Condition of Products
The Consignee will keep the Products free from any lien, security interest or encumbrance adverse to the ownership interest of the Consignor, and shall maintain the Products in new condition.
Consignee attests that the property belongs to him or her.
In accordance with this Agreement, Consignor grants an exclusive right to display and sell the mutually agreed upon item(s), pursuant to the terms of this Agreement.
Consignee agrees to place on display the mutually agreed upon item(s) in a prominent area within the gallery premises.
Theft / Damage / Returns
The Consignee will take the best care possible to assure no damage or theft of the products. The consignee does not assume liability for lost, damaged or stolen items.
The Consignor understands that products may be lost or stolen, and that no payment will be due for lost, stolen or unsold items.
If the buyer initiates a credit chargeback and Consignee loses the funds, the merchandise will be considered as stolen.
Consignee at its discretion may authorize a 10 business day return period. If an item is returned in the same condition it was sold, it will be restocked on the shelves at the original price and the sale will be voided.
The consignor shall indemnify, hold harmless, and defend the consignee and any of its owners, officers, directors, employees, agents, affiliates, (collectively, the “Indemnified Party”) against any and all losses, damages, liabilities, deficiencies, claims, actions, judgements, settlements, interest, awards, penalties, fines, costs, or expenses of whatever kind, including attorneys’ fees, that are incurred by the Indemnified Party resulting from any third-party litigation arising out of any misrepresentation made by the consignor or the consignor’s failure to perform any of its obligations.
Landlord will be held harmless and not liable for the actions of Consignee and the status of consigned merchandise.
The consignor agrees to hold harmless Consignee for consigned merchandise.
Returning Property / Recycling
If the consignor’s property has not sold after One Year (four seasonal payment rounds) from releasing consignee’s property. LATITUDE Gallery space, then the consignor may receive an email indicating to schedule a pre-paid international shipping for the products within One Month.
(Consignor will be responsible for property’s returning shipping fee from New York) If the shipment are not processed in one month, they will become shop property.
The consignor represents that he or she has not entered into any agreement that would prohibit it from performing all of its duties under this agreement without breaching such other agreement.
From the date of this agreement, the consignor shall not enter into any agreement that would prohibit it from performing all of its duties under this agreement without breaching such other agreement.
ONCE YOU AGREE TO THIS AGREEMENT, IT WILL REMAIN IN EFFECT UNTIL YOU OR LATITUDE Gallery New York TERMINATES IT. IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.