The Artwork gets sold as per the ordinary course of business and a copy of the invoice gets sent to RiSBE.
The bottom of that invoice will indicate that the payment should be wired to RiSBE bank account or sent to RiSBE directly.
If, despite the notice, the Purchaser pays the Gallery directly, (i) if via Check they will notify RiSBE and RiSBE will pick up the check from the Gallery and then deposits it into the RiSBE account, or (ii) if the Gallery gets paid via Credit Card or wire service, then they must turn over the Artists and RiSBE share with 72 hours of clearance of the funds AND proof of the deposit, including date, into their account.
If the Gallery deposits the check into their account, then the Gallery shall owe RiSBE their Commission, and as penalty the Gallery agrees that it will owe the Artist an additional 5% of the sales price, payable immediately.
The Gallery notifies RiSBE and Artist of the proceeds division. Once the payment is cleared, each party – the Gallery and the Artist – gets paid their share.
RiSBE charges a flat fee of 1.5% of the total sale, excluding taxes and or shipping and or framing.
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