 Artist: Mohan Malviya |
- HOW TO GET STARTED: The prospective Art Collector may request a KYC (Know Your Collector) Registration Form from COPAL. The Art Collector shall disclose an estimate of his current and/ or annual investment in art in the KYC form and shall also enclose therewith a Demand Draft / cheque of approximately 25 % of the price of artwork/s to be intended to be purchased by him, as non refundable fees to be adjusted at Copal’s discretion fully or partially against the value of the artwork purchased by the Art Collector.
a. The prospective Art Collector may also fill up the KYC form available on the website of Copal (www. copalart.com).
- FIRST SUGGESTIVE PORTFOLIO: Within 15 working days of receiving the completed form along with the said Demand Draft/ cheque, Copal shall dispatch a suggestive portfolio containing information of the price, size and description about the various artworks, which are within the range of the investment mentioned by the Art Collector in the form for his perusal.
- COSTS: The price of an artwork listed in the suggestive portfolio will be exclusive of duties, taxes, insurance, shipping and handling which will be payable by the Art Collector.
- CONFIRMATION: The Art Collector has 10 working days from the receipt of the said portfolio to decide on his collection and inform Copal regarding his selection. As soon as Copal receives the confirmation in writing from the Art Collector, Copal shall reserve the selected artwork/s for the Art Collector for a period of 90 days, within which the balance of the Total Purchase Price for the artwork has to be paid.
a. In the event, the Art Collector disapproves the suggestive portfolio he may within 10 working days of receiving the suggestive portfolio, request Copal to send him a second or a third /final suggestive portfolio.
b. Copal shall within 10 working days of receiving a written request as per clause 4.a. herein above, send the second or third and final suggestive portfolio for the perusal of the Art Collector.
- DELIVERY: The information provided during registration or amended at the time of finalizing a purchase shall be the final billing and shipping address for delivery of the artworks.
a. The artworks will be delivered / shipped to the Art Collector within 90 days of receipt of all necessary documentation is completed and the balance payment has been realized in full including all relevant additional charges (Total Purchase Price). In transit insurance costs will be included in such additional charges, unless specifically advised otherwise by the Art Collector.
i. Please note that in the unlikely event that the art works are damaged in transit, the Art Collector must immediately notify the courier company within 24 hours in order to recover insurance.
b. Pursuant to the terms of Clause 4 herein above, in the event that the Art Collector opts to collect the artworks himself from COPAL he must do so within 21 days of receiving notice from Copal to collect the artwork. If the artworks are not collected within this time frame, storage and insurance costs will be applicable at the complete discretion of Copal.
c. Unless agreed to the contrary in writing between the parties and as stated in Clause 4, the selected artwork shall be reserved for the Art Collector for a period not exceeding 90 days, within which the Art Collector is expected to clear the formalities as mentioned in Clause 6 a.
i. In the event the Art collector fails due to any reason whatsoever to pay the balance consideration, Copal shall not be liable to refund the non refundable fees.
d. If the Art Collector opts to pay upfront the total amount that he intends to invest as disclosed in the KYC form but, (despite 2 reminders sent by Copal to him by email or fax or registered mail) fails to send convey acceptance of the portfolio to Copal, then in such a situation, unless agreed to the contrary in writing, Copal reserves the right to deliver to the Art Collector any /all artworks as per the suggestive portfolio already constructed for the Art Collector.
- INVOICING: All invoices will be raised by Copal based on the registration or amended information provided by the Art Collector and payments will be accepted only from the registered Art Collector.
a. In the event that a payment is received from elsewhere, it may either be returned or result in a delay in processing the order until Copal decides whether a variation from the registration details may be accepted.
b. All the information furnished in the KYC form will be deemed to be accurate and any change must be intimated to Copal immediately.
c. Copal is entitled to act on the basis of the information provided and may seek further information, clarification or verification, it may deem necessary.
d. Copal will send the authenticity certificate/s for all artworks purchased from Copal.
- NO REFUNDS/ BUY BACK: No requests/ demand notices by the Art Collector, or his legal heirs/ successors in interest, for refund of the non refundable fees or for the buy back of the artworks shall be entertained by Copal..
- CLAIMS: Any claim/s by the Art Collector which is based on any defect in the quality or condition of the Artworks or their failure to correspond with specification shall be notified to COPAL within 72 hours from receipt of delivery. If delivery is not refused and the Art Collector does not notify COPAL accordingly, the Art Collector shall not be entitled to reject the Artworks and COPAL shall not have any liability for any such defect or failure and the Art Collector's obligation to pay the Total Purchase Price shall be the same as if the Artworks had been delivered in accordance with these Conditions.
- Copal is not obligated to provide any physical preview of the artwork either before or after the sale. Copal is in no way liable for the condition of the artwork.
- Where any valid claim in respect of any of the Artworks which is based on any defect in the quality or condition of the Artworks is notified to COPAL in accordance with these Conditions, where it is possible to do so, COPAL shall at its sole discretion, either offer another suggestive portfolio for the Art Collector for his perusal or refund the entire costs paid hereunder by the Art Collector, but COPAL shall not have any further liability to the Art Collector.
- TITLE AND RISK:
a. Title in the art work shall pass to the Art Collector on the date on which the Total Purchase Price is paid.
b. Risk in the artwork shall remain with Copal until delivered to the delivery address as specified by the Art Collector whereupon risk shall immediately pass to the Art Collector.
c. Unless agreed to the contrary in writing, all copyright in the Art Work and all rights of reproduction of the Artwork will remain with the Artist.
d. All rights in the images on the website of Copal will belong to Copal, and it shall have the right to use it in line with the agreement made with the Artist.
- CUSTODIAL SERVICES: Subject to the availability of space and other factors, presently custodial services are provided free of charge on the written request of the Art Collectors, provided however, that
a. Copal would have the right to withdraw the custodian service or its terms at anytime with reasonable notice to the Art Collector and will dispatch the works to the Art Collector after the notice period expires at the address last registered with Copal. Therefore any change in address of the Art Collector is to be immediately informed to Copal.
b. though all preventive care would be taken by Copal to protect the art-works, it would not be responsible for any damage, loss or theft for which the artwork(s) would be insured.
c. the cost of insurance would be borne by the Art Collector shall be fully paid in advance.
d. in case, Copal appoints an independent custodian service agency, the Art Collector would have the option to either withdraw or abide by the terms and conditions of the agency engaged by Copal, at such charges or conditions as may be fixed by such agency.
e. The Art Collector shall not hold Copal Art liable for failure to perform or delay in performing any obligations under these Conditions if the failure or delay is caused by any circumstances beyond its reasonable control, including but not limited to acts of God, floods, war, civil commotion, or strikes.
f. Copal is not responsible for changes in the artwork due to climate, humidity, moisture, molds, infestation, stains, warping, shrinkage, expansion, corrosion or any other events that occur over time.ICES
- Any notices required to be given under these Conditions shall be in writing and shall be deemed to have been duly served if sent by registered post or sent by e-mail, facsimile (in each case with the original to be forwarded by post) and sent in the case of the Art Collector to the address notified by the Art Collector to COPAL and in the case of COPAL to the following address:
i. COPAL ART PVT. LTD.
R – 5, Greater Kailash, Part – I,
New Delhi – 110 048
(India)ii. Or at such other address as either party may designate from time to time in accordance with this Clause.
Any notice sent in pursuance hereinabove shall be deemed to have been served.
- FORCE MAJEURE: Neither party shall be liable for failure to perform or delay in performing any obligation under these Conditions if the failure or delay is caused by any circumstances beyond its reasonable control, including but not limited to acts of God, war, civil commotion or strikes. If such delay or failure continues for at least 180 days, the party not subject to the force majeure shall be entitled to terminate the Contract by notice in writing to the other.
a. Copal is not responsible for changes in the artwork due to climate, humidity, moisture, molds, infestation, stains, warping, shrinkage, expansion, corrosion or any other events that occur over time.
- WEB HOSTING: The Art Collector also has the option of instructing Copal to upload an image of the artwork he has purchased along with price details on Copal’s website for sharing information and resale. This service will be available free to the Art Collector for a period of three years.
- GENERAL
a. These Conditions together with any document expressly referred to in any of its terms, contains the entire agreement between the parties relating to the subject matter covered and supersedes any previous agreements, arrangements, undertakings or proposals, written or oral, between the parties in relation to such matters. No oral explanation or oral information given by any party shall alter the interpretation of these Conditions.
b. If any provision of these Conditions is held by any competent authority to be invalid or unenforceable in whole or in part, the validity of the other provisions of these Conditions and the remainder of the provisions in question shall not be affected.
- Rules of interpretation:
a. Headings in this website/Document are for convenience only and shall not affect the interpretation hereof.
b. A reference to a “writing” or “written” includes printing, typing, lithography and other means of reproducing words in a visible form.
c. The terms ‘include’ and ‘including’ shall be deemed to be followed by the words “without limitation”, whether or not so followed.
d. A reference to statutes shall be construed as including all statutory provisions consolidating, amending, modifying, supplementing or replacing the statute referred to;
e. A reference to “month” shall mean a calendar month, and a reference to “day” shall mean a calendar day, unless otherwise specified.
f. Any date or period set forth in this website shall be such date or period as such date or period may be extended pursuant to the terms of this website;
g. The singular of any defined term includes the plural and vice versa, and any word or expression defined in the singular has the corresponding meaning used in the plural and vice versa;
h. A reference to any gender includes the other gender;
- CONCILIATION: All disputes and/or differences arising out the terms and condition of sale hereto shall first be referred to conciliation to such persons as be agreed. Such conciliation shall be under the Arbitration and Conciliation Act, 1996 (The Act) and shall be concluded within 2 months of the reference.
- ARBITRATION: If the Settlement be not arrived at by Conciliation as aforesaid, within 2 months of the reference being made to the Conciliators or such larger time as the parties may agree in writing, then and in such an event any of the parties hereto can refer the same for arbitration to such persons as be agreed. In case the parties cannot agree upon a single Arbitrator, then the same may be referred to an Arbitral Tribunal of 3 persons in accordance with the Act.
i. The Arbitral Tribunal shall be able to proceed summarily and will not be bound by any rules of evidence or procedure as can be avoided by consent and/or direction of the parties hereto.
ii. It will not be necessary for the Arbitral Tribunal to give reasons for their Award.
iii. The Arbitral Tribunal shall proceed expeditiously and will be guided by the propositions adopted by the recent amendments in the Code of Civil Procedure to expedite disposal of legal procedures.
iv. The Award of the Arbitral Tribunal will be final and binding on the parties.
Dated – 02 February 2008
Place – New Delhi