Outline of Payment Plan
*Payment Plans are available for artwork priced at $400.00 or more. If interested in setting up a Payment Plan in order to purchase artwork, and you agree with the terms outlined below, please Contact the Artist before purchase is made via PayPal. Within your message, please include the title of the artwork, medium (i.e. painting, drawing or mixed media) along with the best way to reach you. The Artist will be in contact with you as soon as possible.
- Monica Gunderson hereinafter known as the “Artist”
- The client or purchaser of the artwork hereinafter known as the “Collector”
- Artwork hereinafter known as the “Work”
A Payment Plan is similar to a "Layaway" Plan: the Collector will pay installments on the item the Collector has on reserve, and the item is kept by the Artist until the Work is fully paid. In other words, when the Collectors' Payment Plan is approved, the Artist will take the Work off the market and reserve it for the Collector. The Work is not picked up, delivered nor shipped to the Collector until the Artist receives the last and final payment.
PAY VIA PAYPAL, CASH OR CHECK/MONEY ORDER
The Collector can choose to make payments via PayPal or by sending monthly payments by check or money order in the mail or cash payment made in person (please do not send cash in the mail). If the Collector chooses to pay via PayPal, the Collector will receive monthly invoice via email with a link to send the Artist payment for the amount due that given month. If the Collector decides to make payments with check or money order, where payments are sent via USPS mail each month to the Artist, an invoice will be sent via email one (1) week before payment is due and a reminder/follow up email will be sent three days before payment is due. Please be aware that you will be charged a $20.00 Late Fee if any form of payment arrives at or more than fifteen (15) days after the agreed payment due date. If payment is still not made by thirty (30) days, an additional Late Fee of $30.00 will be accrued. If payment is not made at sixty (60) days from initial payment due date or if a check bounces, will result in termination of contract, the reserved Work will be placed back on the market and the Collector will forfeit whatever payments they have already made (i.e. no refunds).
Each month, after payment is processed, the Artist will email the Collector a statement showing how much has been paid and the balance due. This ensures that the Collector will be aware of the current status of their Payment Plan.
THE PLAN CAN BE FLEXIBLE--BUT COMMUNICATION IS VITAL
The Payment Plan Agreement is a contract and is legally binding, but it is a flexible contract. A Collector can always make larger payments to pay off and/or receive the Work sooner or, if the Collector runs into unexpected circumstances, the Payment Plan structure can be revised. For example, smaller payments for a couple of months, however the artwork must be paid in full within 12 months of the start of the contract and payments and payments can go no lower than $100.00 per month. The Artist can accommodate most requests, but the Collector MUST contact the Artist BEFORE the payment due date to ignore any Late Fees. Please contact the Artist if any changes are needed within the terms of the Payment Plan Agreement. (Refer to: "Nonpayment and Failure to Communicate").
If the Collector has initiated a Payment Plan and for some reason, after having made one or more payments, wish to cancel the Payment Plan and receive a partial refund on payments already made, the Collector may do so, with the following conditions: The Collector must notify the Artist immediately so that the Work can be placed back on the market. Cancellation needs to be made BEFORE payment due date. The Collector will be charged a fee of 10% of the total price of the Work as a service fee and compensation for having kept the art off the market during that period of time. Be aware that the down payment is non-refundable. For example, if an artwork is priced at $600 with a 25% down payment or $125.00, the down payment of $125.00 is non-refundable, all payments received after the down payment will be accrued 10%.
NONPAYMENT AND FAILURE TO COMMUNICATE
If the Collector is unable make a monthly payment, the Collector must contact the Artist as soon as possible. If the Artist does not receive payment by the due date, a Late Fee will be accrued (Refer to: "The Plan can be Flexible-But Communication is Vital). If the Artist is not contacted, the Artist will make every effort to contact the Collector to resolve the situation. If no payment is received or there is no communication from the Collector for sixty (60) consecutive days despite the Artist trying to reach the Collector, the Collector will be in default, and the Payment Plan Agreement (contract) will be terminated. The reserved Work will go back on the market, and the Collector will forfeit whatever payments that have already paid to the Artist. To repeat: When the Collector makes no payments nor communicates with the Artist for a period of sixty (60) days or longer, the Work will no longer be reserved for that Collector, the Work will be placed back on the market and No Refunds will be made.
Monica Gunderson Fine Artist