Art lease from Amersfoort Art

Art lease agreement in the agreement means the rental agreement between the owner/landlord of artworks and the customer as tenant, whereby one or more specified artworks are rented to the customer by Amersfoort Art under the terms and conditions mentioned below.

Before signing this agreement, the customer is required to show Amersfoort Art a valid identification document for verification of the data provided by the customer. If the client is a company listed in the Commercial Register of the Chamber of Commerce, a recent extract from the Commercial Register must also be submitted.

The customer undertakes to notify Amersfoort Art in writing no later than one week before the address details change.

The agreement concluded between the parties shall commence upon delivery to the customer of the artwork(s) rented by the customer from Amersfoort Art, unless otherwise agreed upon. The duration of the agreement is for a maximum of 50 months unless otherwise agreed upon. The agreement ends when all artworks rented by the customer have been returned to the address of Amersfoort Art or all 50 monthly installments have been paid.

Immediately upon receipt of the artwork(s), the customer is required to verify that it conforms to the specifications stated in this agreement and that the artwork(s) are in good condition. Any defects or inaccuracies must be communicated to Amersfoort Art within 48 hours of delivery. If the customer does not lodge a complaint with Amersfoort Art within 48 hours, the artwork(s) is deemed to have been received by the customer without damage and in good condition.

The client is required to maintain and manage the artwork(s) in good condition and maintenance. The customer is liable for all damage done to the artwork(s) or caused during the time the customer has the artwork(s) in his/her possession. The customer’s liability to Amersfoort Art is limited to the amount of the value of the artwork(s). If damage occurs to the work(s) of art, the customer is obliged to notify Amersfoort Art immediately and to deliver the work(s) of art to Amersfoort Art for repair and restoration no later than one week after the damage occurs.

The customer is prohibited from renting out or giving the artwork(s) to third parties for use without the express prior written consent of Amersfoort Art.

The customer is obliged to make every effort to ensure that Amersfoort Art’s ownership rights to the artwork(s) remain unencumbered. If third parties wish to assert rights with respect to the artwork or take measures, the customer will immediately inform Amersfoort Art and notify those third parties immediately that the artwork(s) is/are the property of Amersfoort Art. If due to actions of third parties the artwork(s) should fall out of the customer’s control, the customer will inform Amersfoort Art within 24 hours and if necessary take measures against this himself. If the measures taken by third parties find their cause in the conduct or position of the customer, Amersfoort Art reserves the right to charge the customer for all costs of the measures necessarily taken and to be taken by it.

The lease can be terminated monthly after a period of 6 months. The customer must give notice in writing or by telephone, but no later than two weeks before the end of the rental period. After 50 months of rental and after payment of all due installments, the customer is the owner of the artwork by spending the savings. If, upon indicated return after summons by Amersfoort Art Galerie, the customer refuses to return the work(s) of art to Amersfoort Art Galerie and also fails to ensure payment of rent, Amersfoort Art Galerie is entitled to file charges of embezzlement against the customer and charge the customer.

The rent is payable monthly in advance. This is done by direct debit, every time on the 1st of the
month.

In the event of non-payment by the due date, the customer shall owe interest on the overdue amount at
1.5% per month from the due date until the day of payment, whereby part of the month
shall be counted as a whole month.
In all cases in which Amersfoort Art Gallery issues a summons, notice of default or writ to the customer
, or in case of proceedings against the customer to force him to comply with the agreement or to deliver the
work of art, the customer is obliged to pay to Amersfoort
Art Gallery all costs incurred for that purpose, both in and out of court. The costs incurred are fixed in advance by the parties at an amount not lower
than the usual rate charged by bailiffs.

If the customer purchases the artwork(s) rented by him during the term of the art loan agreement,
the agreement ends by operation of law as of the date of the purchase agreement. However, if, during the
rental agreement, the customer:
– fails to pay the rental price at the specified times;
– fails to comply with any other provision of the art loan agreement;
– applies for a moratorium or files for bankruptcy;
– is declared bankrupt;
– offers a settlement outside of bankruptcy;
– or if any of the customer’s property is seized;

– or if third parties take measures against the customer which could affect the property rights of Amersfoort Art Gallery on the artwork(s);
– or if during the contract period the contracting party dies;

Amersfoort Art Gallery has the right to immediately terminate the art lending agreement prematurely or declare the rental agreement terminated immediately by means of an extrajudicial declaration without any notice of default being required. The customer will be in default by the mere expiry of a certain term or by the mere occurrence of a circumstance as mentioned. The customer is bound to compensate Amersfoort Art Gallery for all damages, costs and interest as a result of a circumstance mentioned above and as a result of early termination of the rental agreement.

The customer is free to exchange the artwork(s) after the expiration of the minimum rental period of 6 months for another artwork of his/her choice, or to return them to the address of Amersfoort Art Gallery. We kindly request that you inform us of this no later than 2 weeks before the end of the monthly period.

Based on the sales value of the loaned object as per the effective date of the art lending agreement, Amersfoort Art Gallery will, in addition to the rental price, determine a savings balance, which will be collected monthly by Amersfoort Art Gallery together with the rent due and will be segregated. In this way Amersfoort Art Galerie builds up a savings balance on behalf of the customer, which balance can be used when purchasing one or more works of art from Amersfoort Art Galerie. The savings will then be deducted from the purchase price. Any transport or shipping costs will be deducted from the savings. The customer can never claim payment of the savings in cash, nor can the savings be used for settlement with claims Amersfoort Art Gallery has on the customer, arising from whatever reason. The credit remains valid for 3 years after termination of the agreement.

Prices quoted include VAT. Depending on the artwork, this can be 0 or 21%. Interim VAT changes will be charged to the customer. Amersfoort Art Gallery ensures proper packaging of the artwork. Transport is the responsibility of the renter. If you wish to make use of the Amersfoort Art Gallery delivery service, this is possible at the applicable transportation rates. Amersfoort Art Gallery does not rent out sculptures, unless indicated with the sculpture.

The administration fee is a one-time €25.

The art lending agreement shall be governed exclusively by Dutch law. For any legal disputes the Utrecht District Court has exclusive jurisdiction, except if any claim falls under the competence of the Subdistrict Court, in which case the Subdistrict Court in Utrecht has exclusive jurisdiction, all this without prejudice to the right of Amersfoort Art Gallery to bring a legal dispute before the District Court in the district where the customer is domiciled.

Upon commencement of this agreement, all previous agreements expire.