Please see below the Terms and Conditions on which Artworks are bought from Fobally Art World Africa.
PRECONDITIONS TO SALE
By placing a request to purchase from Affordable Art, the Purchaser agrees to be bound by the terms herein.
1.1 Fobally Art World Africa acts as agent for the Vendor and, therefore, the contract of sale is made between the Vendor and the Purchaser.
1.2 The Purchaser is responsible for satisfying himself/herself concerning the condition of the Artwork as contained in the catalogue entry. This can be done by, for example, a personal inspection and examination of the Artwork in which they are interested (upon request) and a consultation with the Artist or any other authority on the subject (if known to the Purchaser) and/or a review of past-sales amounts for similar items, where available.
1.3 Neither Fobally Art World Africa nor the Vendor provides any guarantee in relation to the Artwork, which is sold in “as is” condition to the Purchaser. This pertains to, but is not limited to, the condition of the work, the authorship and authenticity of the work and any descriptive or historical detail about the work that is disclosed verbally or printed in the catalogue or elsewhere. In good faith to the Purchaser, signed declarations by the Vendor warrant the following:
a. the Vendor is the owner of the item, or is properly authorized by the owner to sell the item.
b. The Vendor can and shall, in accordance with the conditions set upon him by Fobally Art World Africa, transfer possession to the Purchaser with good and marketable title to the item, free from any third-party rights, claims or potential claims (including without limitation, by governments or governmental agencies).
c. The Vendor has provided Fobally Art World Africa in writing with all information concerning the item’s provenance and has notified Affordable Art in writing of any concerns expressed by third parties concerning its ownership, condition, authenticity, attribution and export or import history.
d. The Vendor has paid or will pay all taxes and duties potentially due to him on the sale proceeds of the item.
1.4 All statements by Fobally Art World Africa made orally or printed in the catalogue entries or on its website are statements of opinion and not to be relied on as statements of fact. Such statements do not constitute a representation, warranty or assumption of liability by us of any kind.
1.5 When making a purchase, a Purchaser is accepting personal liability to pay the purchase price, including the purchase price and all applicable taxes, plus all other applicable charges. This does not apply if the Purchaser is acting as agent on behalf of an identified third party acceptable to Fobally Art World Africa and this has been explicitly agreed in writing with Fobally Art World Africa before the commencement of the sale. In respect of this situation Fobally Art World Africa will only consider the principal liable for payment. In addition to the purchase price, the Purchaser agrees to pay Fobally Art World Africa the applicable Value Added Tax (VAT)(“This becomes the Contract Sum”). The VAT, subject to Nigerian law is 7.5% of the total purchase price.
1.6 Immediately following the sale, the Purchaser must confirm his or her name and permanent address and, if applicable, the details of the bank from which payment will be made. The Purchaser must pay the full amount due (comprising of the purchase price and any applicable taxes) immediately after the sale. This applies even if the Purchaser wishes to export the Artwork and an export license is, or may be, required. The Purchaser will not acquire title to the Artwork until all amounts due to Fobally Art World Africa from the Purchaser have been received in good cleared funds even in circumstances where the Artwork has been released to the Purchaser.
TERMS OF SALE
By placing a request to purchase from Fobally Art World Africa, the Purchaser agrees to be bound by the terms herein.
2.1 The Purchaser shall make payment to Fobally Art World Africa within 7(Seven) days of the sale of the Artwork (inclusive of the time required to process cheques or to receive wire transfers) and title shall not pass to the Purchaser until all amounts due to Fobally Art World Africa have been paid.
2.2 Fobally Art World Africa shall be entitled to retain Artworks sold until all amounts due have been received in full in good cleared funds or until the Purchaser has satisfied such other terms as Fobally Art World Africa, may in its sole discretion, require. Subject to this, the Purchaser shall have paid for and collected purchased Artworks within 10(Ten) days from the date of sale, unless otherwise agreed upon.
2.3 In the event that the Purchaser fails to make payment within a period of 7(Seven) days after the sale of the Artwork, Fobally Art World Africa shall be at liberty to exercise one or more of the following options (in addition to other rights/remedies available by law):
a. To hold the Purchaser liable for the total amount due and to commence legal proceeding for its recovery together with interest, legal fees and cost to the fullest extent permitted under applicable law;
b. To cancel the sale of the Artwork;
c. To resell the Artwork to an interested third party on such terms and conditions as it deems fit. Provided that in the event that Fobally Art World Africa sells the Artwork to a third party as a result of the default of the Purchaser, the Purchaser shall be liable for all costs and expenses incurred by the Vendor therefrom as a result of the default.
d. To take such other actions deemed necessary and appropriate.
TERMS OF DELIVERY OF THE ARTWORK
3.1 The Purchaser shall be responsible for picking up or making shipping arrangements for the Artwork. In the event that the Purchaser requires Fobally Art World Africa to deliver the Artwork to a designated location, the Purchaser shall be responsible for all costs incurred by Fobally Art World Africa in that regard. Provided that if the Purchaser fails to pick up the Artwork or designate a delivery location within 5(Five) days of making payment, Fobally Art World Africa shall be at liberty to store the Artwork in an insured and managed third party warehouse at the Purchaser’s expense.
3.2 All Artworks sold shall be subject to Nigerian law regarding the export of certain items as well as to import restrictions of foreign countries. The Purchaser shall be responsible for obtaining any relevant export or import licenses. Unless otherwise agreed by Fobally Art World Africa in writing, the fact the Purchaser wishes to apply for an export license does not affect his or her obligation to make payment within 7(Seven) days nor Fobally Art World Africa’s right to charge interest or storage charges on late payment. In addition, the denial of any license or any delay in obtaining licenses shall neither justify the rescission of any sale nor any delay in making full payment for the Artwork.
3.3 Fobally Art World Africa shall provide an insurance cover for sold items for a maximum of 5(Five) days after the date of payment. After this period, the Artwork will be held in a storage facility entirely at the Purchaser’s risk.
4.1 Fobally Art World Africa hereby warrants period of 1 (One) year from the date of the sale as follows that the Artworks in its catalogue and on its website are stated without qualification to be the work of a named author or Artist, are authentic and not forgeries.
4.2 Neither the Vendor nor Fobally Art World Africa, including any of its officers, employees or agents, are responsible for the correctness of any statement of any kind concerning any Artwork, whether written or oral. This includes any errors or omissions in description or for any faults or defects in any Artwork.
4.3 The benefits of the warranty are not assignable and shall apply only to the original Purchaser of the Artwork as shown on the invoice originally issued by Fobally Art World Africa.
4.4 The Purchaser’s sole and exclusive remedy against Fobally Art World Africa and the Vendor is the cancellation of the sale and the refund of the original purchase price paid for the Artwork. Neither Fobally Art World Africa nor the Vendor will be liable for any special, incidental or consequential damages, including, without limitation, loss of profits nor of interest.
4.5 The Purchaser must give written notice of claim to Affordable within 6(Six) months from the date of the auction. The Purchaser is required to obtain the written opinions of two recognised experts in the field, mutually acceptable to Fobally Art World Africa and the Purchaser, before Fobally Art World Africa decides whether or not to cancel the sale under the warranty.
4.6 The Purchaser must return the Artwork to Fobally Art World Africa in the same condition as at the time of the sale.
5.1 The copyright in all images, illustrations and written material produced by or for Fobally Art World Africa relating to a sale is and shall remain at all times the property of Fobally Art World Africa and shall not be used by anyone without our prior written consent.
5.2 Fobally Art World Africa and the Vendor make no representation or warranty that the Purchaser of an Artwork will acquire any copyright or other reproduction rights in it.
5.3 If any part of these Conditions of Sale is found by any court to be invalid, illegal or unenforceable, that part shall be discounted and the rest of the conditions shall continue to be valid to the fullest extent permitted by law.
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