TERMS & CONDITIONS OF BUSINESS
DEFINITIONS
1 In these Terms and Conditions, unless the context otherwise permits or requires the following expressions shall have the following meanings:
“The Company” means Masterworks International. “The Consumer” means any person, firm, or company requesting the Company to produce, supply or provide a product or service and includes any servant, agent or subcontractor of the Customer.

ACCEPTANCE OF TERMS AND CONDITIONS
2. (1) Any business undertaken by the company or any information advice or service supplied by the company, (whether charged for or not), is undertaken or provided subject to these Terms and Conditions which shall be the terms of any contract for supply of goods or services between the company and the customer.
(2) These Terms and Conditions subject to and together with any variation agreed in writing between the company and the customer shall constitute the entire contract between the company and the customer and shall over-ride or supersede any previous agreement or arrangement between the Company and the Customer and in particular shall operate to the exclusion of any Terms and Conditions at any time imposed by the Customer.
(3) The customer acknowledges that it has not entered into this agreement relying upon any representation made by or on behalf of the Company and without prejudice to the generality of the foregoing the Customer had not relied upon any correspondence, statement or sales literature issued by or on behalf of the company.

CHARGES
3. (1) All prices quoted, unless otherwise stated are ex. works.
(2) Payments must be made in full before goods or services are legally transferred from the ownership of Masterworks International. Settlement terms are strictly net, and we reserve the right to charge interest on overdue accounts at a rate of 7% over the Basic Rate in force at the time.
(3) 50% is required in order to secure bookings.
(4) Deposits are only refundable if unable to offset against additional works or customer service requirements. Whereas this is not the case Masterworks International reserves the rights to recoup costs incurred during business dealings with the client.

SUPPLY OF GOODS / SERVICES
4. (1) The contract shall require the Customer to give particulars sufficient to enable the Company to deliver at the time or times or within the period so specified.
(2) Where the Customer must perform any act to enable the
Company to delivery/provide the good/services, such act must be so performed as to enable the Company to make delivery within the time stipulated. If default is made in performing such act and the Company is thereby unable to deliver within the Contract time, the Company shall have the right to cancel any deliveries or services and any loss sustained by the Company shall be paid by the Customer.
(3) If by the completion date (subject to any extension agreed upon) any goods or services under this contract have not been taken up by the Customer the Company shall have the right to cancel any goods or services which they have been prepared to deliver/provide but which have not been taken up. Any cancellation under this clause shall not prejudice the right of the Company to claim damages against the customer.
(4) The Company reserves the right to impose a cancellation charge if a customer’s order/booking is cancelled through no fault of the Company.
(5) The Company shall not be liable in any way in respect of late supply / delivery howsoever caused, nor shall such failure be deemed to be a breach of the Contract. Any suggested supply / delivery or completion date is given as an estimate only and is not to be of the essence of the Contract.
(6) The Company will not accept responsibility for any loss arising from the non-availability of materials or the delay or lack of delivery of goods arising from causes beyond our control.
(7) The risk in the provided goods or services is passed to the
Customer upon delivery of said goods or services to the customer, in accordance to agreed fulfilment requirements; however, title in the goods or services remains vested in the Company and shall only pass to the Customer upon full payment being made. The Customer agrees that prior to the full payment being received they may not use, publish, claim as their own or show said goods or services.
LIMITATION OF LIABILITY
5. (1) The Company shall not be liable for any consequential loss to the
Customer of whatever nature arising from any breach of Contract on the part of the Company.
(2) Insofar as the Company is liable for any cost claim or demand whatsoever of the Customer, the liability of the Company shall be limited (at the discretion of the Company) to:
(a) Making good the defect
(b) Allowing a part or full credit for the cost of the defective goods or work done on them by the Company.
(3) The Company reserves the right to cancel a Contract or an Order if the Customer breaches any terms of any Contract with the Company or enters into receivership or liquidation or commences legal proceedings which involves the Customers solvency.