This Contributor Sales Agreement made and entered into by and between You (Hereinafter mentioned as the "Contributor") and MegaImageBank.com (Hereinafter referred to as the "Image Bank") and collectively referred to as the "Parties".
II. The Image Bank shall hold the Products which are the subject of this Agreement in trust for the benefit of the Contributor. Image Bank shall offer the Products for sale for the retail price designated by the Contributor and shall charge a Commission Percentage of 20% of commission on each Product for sale on our website.
III. The proceeds of any sale shall be held in trust for the benefit of the Contributor by the Image Bank and shall be sent to the Contributor on a monthly basis. The retail price of the Product(s) shall be set by the Contributor and shall not be raised unilaterally by the Image Bank. During the term of the Consignment, the Image Bank shall not sell for more than the established price and commission of any of the Contributor’s Products.
IV. This Agreement is for an undetermined period of time and may be terminated by either party, at any time without written notice to the Contributor by the Image Bank, his/heirs, executors or assigns. Upon termination, the Image Bank shall remove the Products within 7 working days.
V. The risk of loss under this Agreement rests with the Contributor during uploading into the Image Bank, and with the Image Bank until the Products are removed. If the Products are damaged, lack information, it is the responsibility of the Contributor to promptly notify the Image Bank. The Contributor expects that all Products on commission will be fully protected for their market value at the place of exhibition, and that upon their removal, a full inventory report will sent to the Contributor.
VI. The Contributor shall provide the Image Bank with the name of all clients who purchase the Products. In the event that a client shall contact the Contributor directly and attempt to purchase an Product during the term of this Agreement, the Client shall be referred to the Image Bank, before the Contributor makes the sale, unless the same Product is being sold at another Image Bank and under their Terms & Conditions.
VII. This Agreement is the entire Agreement between the Parties and any modification of the Agreement must be in writing.
VIII. This Agreement was last modified on 05/November/2018.