Common use of Insurance/Loss or Damage Clause in Contracts

Insurance/Loss or Damage. The Gallery shall insure the work for percent of the retail price shown in the Record of Consignment. • The Gallery shall be responsible for the safekeeping of all consigned works. • The Gallery shall be strictly liable for loss of or damage to any consigned Artwork from the date of delivery to the Gallery until the work is returned to the Artist or delivered to a Purchaser. • In the event of damage that cannot be restored, the Artist shall receive the same amount as if the work had been sold at the retail price listed in the Record of Consignment. • If restoration is undertaken, the Artist shall have a veto power over the choice of restorer. Initialed by The Artist and Gallery.

Insurance/Loss or Damage. The Gallery shall insure the work for percent of the retail price shown in the Record of Consignment. • The Gallery shall be responsible for the safekeeping of all consigned works. • The Gallery shall be strictly liable for loss of or damage to any consigned Artwork from the date of delivery to the Gallery until the work is returned to the Artist or delivered to a PurchaserCollector. • In the event of damage that cannot be restored, the Artist shall receive the same amount as if the work had been sold at the retail price listed in the Record of Consignment. • If restoration is undertaken, the Artist shall have a veto power over the say in choice of restorer. Initialed by The Artist and Gallery.

Insurance/Loss or Damage. The Gallery shall insure the work artwork for 100 percent of the retail price shown in the Record of Consignment. The Gallery will provide a purchase receipt for all purchased artworks. • The Gallery shall be responsible for the safekeeping of all consigned works. • The Gallery shall be strictly liable for loss of or damage to any consigned Artwork from the date of delivery to receipt by the Gallery until the work is returned to the Artist or delivered to a Purchaser. • In the event of damage that cannot be restored, the Artist shall receive the same amount as if the work had been sold at the retail price listed in the Record of Consignment. • If restoration is undertaken, the Artist shall have a veto power over the choice of restorer. Initialed by The Artist and GalleryGallery .

Insurance/Loss or Damage. The Gallery shall insure the work for percent of the retail price shown in the Record of Consignment. • The Gallery shall be responsible for the safekeeping of all consigned works. • The Gallery shall be strictly liable for loss of or damage to any consigned Artwork from the date of delivery to the Gallery until the work is returned to the Artist or delivered to a PurchaserPurchas- er. • In the event of damage that cannot be restored, the Artist shall receive the same amount as if the work had been sold at the retail price listed in the Record of Consignment. • If restoration is undertaken, the Artist shall have a veto power over the choice of restorer. Initialed by The Artist and Gallery.