This
Agreement shall take effect on the___day of ___________________ (Minimum 12 Months), and
remain in full force and effect for a term of two years, unless terminated as
agreed by the Consignor and www.BuddhaMuseum.com. Whereas, www.BuddhaMuseum.com
is the agent for marketing the above listed items owned by the Consignor, and
Whereas, the www.BuddhaMuseum.com wishes to represent the Consignor; the contract
shall be binding on and inure to the benefit of the successors, administrators,
executors, or heirs of the Agent and Consignor. Therefore, in consideration of
the foregoing premises and the mutual covenants hereinafter set forth and other
valuable consideration, the parties hereto agree as follows:
Consignment
Sales and Commissions
The
Consignor appoints the www.BuddhaMuseum.com to act as his or her representative
for: sale of collectible merchandise in the United States and international markets,
including but not limited to the Internet. The
www.BuddhaMuseum.com agrees to use its best efforts in submitting the Consignor's
merchandise for the purpose of making sales. For the purposes of this Agreement,
the term merchandise shall be defined to include two dimensional and three dimensional
art objects, and any other collectibles which the Consignor is the legal owner
of said property. Www.BuddhaMuseum.com shall negotiate the terms of any sale price
that is offered; and the Consignor shall have the right to reject any sale if
he/she finds the price or terms unacceptable. Whereas all consignment listing
for sale in its web site and other related market place, www.BuddhaMuseum.com
pays all productions and continuous promotional cost for consignment merchandise;
herein, Consignor agrees not to make private sales of merchandises listed in this
consignment contract. In case of contracted merchandise sold by Consignor, Consignor
is liable to pay www.BuddhaMuseum.com sale commission; which is 20% of the minimum
sale price as listed in this consignment contract. This limitation extends only
for the period of time that the www.BuddhaMuseum.com represents the Consignor.
Merchandise
and Risk of Loss, Theft or Damage
All
merchandise submitted to the www.BuddhaMuseum.com for estimate value or for the
purpose of sale shall remain the property of the Consignor. Www.BuddhaMuseum.com
shall issue a receipt to the Consignor for all merchandise which the Consignor
submits to our holding for over a period of 30 days or more. If merchandise is
lost, stolen, or damaged while in the Museum's possession due to our failure to
exercise reasonable care, www.BuddhaMuseum.com will be held liable for the value
of the merchandise. When selling merchandise, shipping parcels, or allowing a
client to hold merchandise for consideration, www.BuddhaMuseum.com agrees to use
an invoice, which provides that the client is responsible for loss, theft, or
damage to merchandise while being held by the client. Www.BuddhaMuseum.com agrees
to enforce these provisions, including taking legal action as necessary. All recovery
resulting from legal action shall be first used to reimburse the amount of attorney's
fees and other expenses incurred, and the balance of the recovery shall be divided
between www.BuddhaMuseum.com and Consignor in the respective percentages set forth
in below.
Sales
and Payment
Www.BuddhaMuseum.com must obtain the Consignor's signed contract prior to entering
into any sales by consignment. No merchandise shall be offered to clients below
minimum sale value without first consulting the Consignor. When leaving a merchandise
with the Museum for possible sale, the Consignor shall agree with the Museum as
to the base price to be charged. The rate of commission for all merchandise sold
shall be 20%. If the Merchandise should bring more than the Consignor's base price,
additional 10% commission applied to final sale price above Consignor's base price.
In the event that a sale has been made by www.BuddhaMuseum.com, consignor will
be informed with payment status and client shipping address. Www.BuddhaMuseum.com
shall be responsible for all billings. A copy of the completed invoice also will
be send to Consignor. Merchandise must be shipping to client within three business
days. Consignor shall be fully responsible for package, shipping and insuring
merchandise. It is essential for consignor to obtain proof of delivery with signature.
All sale proceeds under $1000 USD are pay in check or PayPal. Sale proceeds above
$1000 USD will be deposited into www.escrow.com for payment to consignor.Total
payment shall be reduced by the amount of commission incurred in performing the
sale by www.BuddhaMuseum.com. In accordance with our 14 days money back guarantee
policy. Payment in check, PayPal or escrow can only be made to Consignor 15 days
after buyer received merchandise. Regardless of the reasons, it is mutually agreed
by both parties that no sale proceed shall be paid for consigned merchandise rejected
by the buyer within 14 days, or for which the buyer does not receive merchandise
as advertised on www.BuddhaMuseum.com.
Termination
This Agreement may be
terminated by either party by giving thirty (30) days written notice. All merchandise
belong to the Consignor not sold by the www.BuddhaMuseum.com will be returned
to the Consignor within fifteen (15) days. In the event of an early termination,
Consignor shall pay www.BuddhaMuseum.com expenses incurred in graphics and promotions
for consigned merchandise.
This
Agreement shall be governed by the laws of the State of California.
