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| ART BANKING (CONSULTATIONS AND TRANSACTIONS REGARDING ARTWORKS) |
| 1. | Hourly charge for services related to artworks as specified in the agreement 1 2 |
| 70.00 EUR |
| 2. | One-off commission fee for search of buyers/sellers of artworks 1 3 |
| 140.00 EUR |
| 3. | Annual fee for services related to artworks as specified in the agreement 4 5 |
| 21600 EUR (or 1800 EUR/month) |
| 4. | Artwork purchase/sale price 6 |
| |
 | 0 - 999 999,99 EUR |
| 8% |
| | 1 000 000 - 1 999 999,99 EUR |
| 5% |
| | 2 000 000,00 - 4 999 999,99 EUR |
| 3% |
| | 5 000 000,00 EUR and more |
| 2% |
| 1 This commission fee is not applicable when Client pays the annual fee (see paragraph 3). |
| 2 Hourly charge does not include VAT. |
| 3 Commission fee does not include VAT.
Commission fee is included in Purchase/Sale Price only if the transaction is closed.
Commission fee includes the payment for two Banking hours. |
| 4 This commission fee is not applicable to situations where an hourly charge is paid (see paragraph 1) or a one-off commission fee for search of buyers/sellers of artworks is paid (see paragraph 2). |
| 5 Annual fee does not include VAT, commuting and other expenses that may occur in connection with execution of a Client’s instruction.
Monthly fee includes 40 Banking hours, which is considered a standard period required for execution of a Client’s instruction.
If execution of a Client’s instruction requires more than a standard period of 40 Banking work hours, a separate invoice for additional work hours will be made out at EUR 45/hour.
A separate invoice will be made out to Client for professional services of an involved party.
Work hours unused during one month are not carried over to the following months. |
| 6 Interest refers to the artwork price only; additional transaction costs are not included. |
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