Terms and Conditions of Service

 

Effective Date: September 1, 2024

 

1. INTRODUCTION

 

Zeit Contemporary Art, LLC (hereinafter referred to as “Zeit Contemporary Art”) offers specialized services in modern, postwar, and contemporary art, including the consignment of works for sale, private sales, advisory, and curatorial services. This document outlines the general terms and conditions applicable to all clients engaging with Zeit Contemporary Art. Please note that additional and specific terms will be provided based on the scope and complexity of each individual project. By engaging in our services, clients agree to the terms outlined below and any additional terms specific to their project.

 

2. SERVICES RENDERED

 

2.1 Private Sales and Consignments:

Zeit Contemporary Art provides intermediary services for the consignment and sale of artwork, acting as a liaison between sellers and buyers while maintaining confidentiality and integrity. You acknowledge that Zeit Contemporary Art does not owe you a fiduciary duty unless explicitly agreed upon in writing.

Exclusivity: Unless otherwise specified, the client agrees to engage Zeit Contemporary Art exclusively for the sale or consignment of the listed artworks for the agreed-upon duration.

 

2.2 Advisory and Curatorial Services:

Our advisory services include but are not limited to market research, due diligence on authenticity, provenance, title, condition of artworks, and negotiation of purchase prices. Curatorial services involve logistical arrangements, such as storage and insurance, and coordination of loans to private and public cultural institutions for short- and long-term exhibition.

 

2.3 Insurance Coverage:

Unless otherwise specified in writing, clients are responsible for obtaining insurance coverage for any artwork while it is under the custody of Zeit Contemporary Art, or during transit or storage. Zeit Contemporary Art maintains business insurance for liabilities directly arising from our own negligence.

 

3. APPOINTMENTS AND PRIVATE VIEWINGS

 

3.1 Scheduling:

Clients wishing to schedule private viewings or consultations must complete an Appointment Intake Form. All appointments are subject to confirmation by Zeit Contemporary Art.

 

3.2 Fees:

Clients are responsible for all costs associated with the transport, handling, and preparation of artworks for private viewings, as well as any consulting fees. Payment for these services is due upon scheduling unless otherwise agreed upon in writing.

 

3.3 Cancellation and Rescheduling:

A minimum of 48 hours' notice is required for cancellations or rescheduling. Failure to provide adequate notice will result in a non-refundable cancellation fee to cover allocated resources and time. Clients will be notified of such fees via email or invoice.

 

3.4 No-Show Policy:

Clients failing to attend scheduled appointments without prior notice will be charged the full fee for the services scheduled.

 

4. ADVISORY SERVICE SPECIFIC TERMS

 

4.1 Compensation:

A retainer fee, calculated as a percentage of the artwork's estimated market value, is required upon engagement. Upon completion of a transaction, an advisory commission—reduced by the retainer fee already paid—will be applicable. The commission is based on the final sales price or value agreed upon by both parties.

 

4.2 Due Diligence and Risk Assessment:

Zeit Contemporary Art conducts thorough due diligence to the best of its ability but relies on the client to provide accurate and complete information. Zeit Contemporary Art is not liable for decisions based on incomplete or inaccurate information provided by the client or third parties.

 

4.3 Liability:

While our advisory services are based on current industry knowledge, Zeit Contemporary Art does not warrant the accuracy of any information regarding authenticity, provenance, or title and assumes no liability for third-party inaccuracies.

 

4.4 Indemnification:

Clients agree to indemnify Zeit Contemporary Art against any losses or claims resulting from inaccuracies or breaches of representations or warranties made by the client or its agents.

 

5. CONFIDENTIALITY AND PROFESSIONAL CONDUCT

 

5.1 Confidentiality:

All personal information and transaction details will be kept strictly confidential unless disclosure is required by law or mutually agreed upon in writing.

 

5.2 Non-Solicitation:

Clients agree not to solicit or engage the services of any subcontractors, vendors, or artists introduced by Zeit Contemporary Art without prior written consent.

 

5.3 Non-Disparagement:

Both Zeit Contemporary Art and the client agree not to make any false, defamatory, or disparaging comments about each other or their respective representatives, whether in public forums, online platforms, or social media, in a manner intended to harm each other's reputation or business.

 

5.4 Conflict of Interest:

Zeit Contemporary Art will disclose any known conflicts of interest related to the services provided, and both parties agree to act in good faith to address and resolve such conflicts.

 

6. APPLICABLE LAW AND PLACE OF JURISDICTION

 

6.1 Dispute Resolution:

Any disputes between the client and Zeit Contemporary Art will first be attempted to be resolved through confidential mediation, with the costs shared equally between the parties. If mediation fails, the dispute will be resolved through binding arbitration, in accordance with the American Arbitration Association's rules.

 

6.2 Governing Law:

These terms, along with any non-contractual obligations arising from or in connection with them, shall be governed by and construed in accordance with the substantive laws of the State of New York, without regard to its choice of law provisions.

 

6.3 Jurisdiction:

For any disputes not resolved by mediation or arbitration, the parties consent to the exclusive jurisdiction of the state courts of New York, located in New York County, and the United States District Court for the Southern District of New York.

 

7. FORCE MAJEURE

 

Neither party shall be liable for any delay or failure in performance due to circumstances beyond its reasonable control, including but not limited to acts of God, natural disasters, strikes, governmental actions, or disruptions in supply chains. In such events, the affected party must provide written notice, and a reasonable extension of time will be granted.

 

8. TERMINATION OF SERVICES

 

Either party may terminate this agreement at any time by providing written notice to the other. If the client terminates the agreement before the completion of the services, they are still responsible for any fees incurred up to the date of termination. Zeit Contemporary Art reserves the right to terminate the relationship in the event of non-payment or breach of these terms by the client.

 

9. AMENDMENTS AND ACCEPTANCE

 

Zeit Contemporary Art reserves the right to modify these terms at any time. Any changes will be communicated directly to clients via email or posted on our website and will take effect 30 days after such notification. By continuing to engage in our services after the notification period, clients agree to the revised terms.

 

By engaging with our services, clients agree to the terms outlined in this document and any additional terms provided specific to their project.

 

This general policy, publicly listed on our website, provides a framework within which Zeit Contemporary Art operates. Each client will receive a detailed set of terms tailored to their specific interactions with Zeit Contemporary Art to ensure clarity and mutual understanding throughout our professional engagement.