Help!
If this process feels overwhelming, you are not alone. There is a lot of legalese that goes into making a sound contract and this can make it difficult for artists to feel comfortable using them. Our online Contract form will make it easy so all you have to do is simply answer questions about what you want in the contract, and then voila! it creates the contract for you.
Here are some common questions from artists about using the FARE Contract, and a step by step guide to take you through the process of using the FARE Contract.
How do I ask for a contract?
If someone wants to purchase your work, tell them you will send over a contract for their review. You can either discuss the terms in advance, or send the contract as you'd like it signed and go from there.
Why should I ask for a contract?
Having a contract is a best practice for the protection of all parties involved in a transaction. Artists will signal they value their work enough to want to protect it by asking for a contract.
What if the buyer doesn't want to have a contract?
A written contract identifies what you and another party have agreed to. If the Collector or your Gallery refuses to put an agreement into writing, it is a red flag.
What if the buyer won't agree to my terms?
It is up to you to negotiate which terms you are willing to accept. You may let go of some rights to retain others; each situation will be different, but it is not uncommon to negotiate the terms of a sale.
What is a Resale Royalty?
A Resale Royalty is an amount given to you when your work is resold for a profit. The amount is usually a percentage of the profits. If you want to receive a Resale Royalty should your buyer ever resell the work for a profit, you include this as a clause in your contract that identifies the amount; 5%-15% is common.
Step By Step Process:
Let us walk you through using the online FARE Contract.
When you Begin to Draft your Contract, you will first need to read through and acknowledge the Disclaimer. This is a long piece of text that basically says that by using the Contract, you understand that no one is providing you with legal advice and we can’t be held liable. Please read through the whole text - you must accept the disclaimer to continue using the FARE Contract.
Fill out the info for you (the Artist) and your buyer, and the artwork details.
You will then be asked if you want to receive a Resale Royalty if your work resells for a profit in the future. This is optional. A suggested Resale Royalty is between 4-15%.
After you complete all the questions regarding which terms you want to include, review your answers to confirm they are correct.
Once you submit your information, your documents will be generated for download. You can also have them emailed to yourself or your collector.
We recommend downloading a DOCX version so that you can review and edit the file for any formatting inconsistencies and also so you can modify the file if any changes need to be made, such as typos or changes after you’ve negotiated your contract.
