Artists often lend their artwork for exhibitions—to museums, galleries, or perhaps corporate or public displays. Exhibition and cover these situations.
Exhibition and loan agreements are similar to in some ways, but usually the emphasis is not on selling the work (though sometimes a sale might happen or be facilitated). Instead, the focus is on the temporary loan of the artwork for a certain exhibition or period. The agreement also ensures the work is handled with care and returned safely.
Exhibition and loan agreements in these circumstances generally cover such matters as duration, insurance, and handling. Typically, lenders provide details such as exact item descriptions, values, and credit lines, while borrowers address shipping and security.
When you lend your art for an exhibition or other public or private display, here are some of the elements that commonly appear in these agreements.
Parties and Artwork Details
Exhibition and loan agreements are between the lender—you or perhaps a collector who owns the piece—and the institution or entity organizing the exhibition or display.
A central element of this type of agreement is the list of artwork(s) being lent, together with descriptions and, if possible, the current appraised value or insurance value of each piece. The declared value is important for insurance, as it sets the basis for what would be paid if the piece is lost or damaged.
Purpose and Duration
An agreement typically specifies the exhibition name, purpose and dates. The time period usually covers a slightly longer period than the show dates, to allow time for installation and de-installation. It might also specify that the loan period starts when the work leaves your possession and ends when it is returned to you.
If the exhibition is extended, the loan period, and the insurance cover with it, will need to be extended too, usually by written agreement.
Display
The agreement often includes clauses about how the artwork will be displayed. For example, it might specify that the work will be shown in a climate-controlled gallery space within a certain range of temperature and humidity, and lighting that will not harm it. It may also specify that only qualified personnel, such as professional art handlers or registrars, will handle the work.
If the artwork is very valuable or fragile, lenders sometimes require the use of a particular courier, or that a specific person travel with the artwork to oversee installation. These specifications, if needed, are usually included in the agreement, along with relevant details such as payment for the courier’s travel.
Similarly, any special equipment or installation requirements are often included in the agreement.
Fees
Lending fees are not standard in the visual arts world, particularly for loans to museums or non-profit galleries. Artists often lend without charging a fee, since the loan can bring non-monetary benefits such as exposure, institutional recognition, and prestige.
A fee is more common when the borrower is a commercial entity, or when the loan generates profit for the borrower.
When fees are involved, they are typically set out in the agreement.
Image credit: Lari Bat